Banking

Who is drawer and drawee in cheque

In a cheque transaction, the drawer and drawee are two of the primary parties involved:
  • Drawer: The individual or entity who holds the bank account and signs the cheque to initiate a payment. By signing, the drawer orders the bank to pay a specific sum of money to the payee.
  • Drawee: The specific bank or financial institution where the drawer maintains their account. The drawee is directed to transfer the funds from the drawer's account to the person or entity named on the cheque.

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