Who is bearer in cheque

In a cheque, the bearer is the individual who physically possesses and presents the instrument to the bank for payment. Unlike order cheques, which are payable to a specific named person, a bearer cheque is payable to whoever holds it. Key features include:

• Transferability: It can be transferred from one person to another simply by handing it over, without requiring an endorsement.
• Encashment: The bank can pay the amount over the counter to the presenter without mandatory identity verification for smaller amounts.
• Risk: If lost or stolen, anyone who finds it can potentially encash it, making it higher risk than crossed cheques.