A cheque is a written, signed, and dated negotiable instrument that instructs a bank to pay a specific sum of money from the account holder's account to a person or organization named on it. Regulated under the Negotiable Instruments Act, 1881, in India, it serves as a secure method for:
- Transferring funds between accounts without using physical cash.
- Making large-value payments safely and conveniently.
- Withdrawing cash from your own savings or current account.
- Maintaining a documented record of financial transactions.