The word cashed means that the value of something has been turned into cash. For example, if a cheque is cashed, the cheque has been handed over and the person now has the cash value of it in money.
Deposit it into your bank account A crossed cheque cannot be cashed directly. It can only be deposited into a bank account.
You cannot. A Crossed Cheque is also called an Account Payee Only Cheque which means that, this cheque cannot be cashed directly. It can only be deposited into the bank account of the person to whom this cheque is issued. So, the only way you can cash the cheque is by opening a bank account (or using your existing bank account) and deposit this cheque.
A Crossed Cheque is also called an Account Payee Only Cheque which means that, this cheque cannot be cashed directly. It can only be deposited into the bank account of the person to whom this cheque is issued. So, the only way you can cash the cheque is by opening a bank account (or using your existing bank account) and deposit this cheque.
Open cheque - An open cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to Crossed cheque - A crossed cheque is also called an account payee cheque. This is a cheque that can be cashed only by depositing it into a bank account of the person who received it. It cannot be directly converted to cash.
No. A cheque can be cashed only on or after the date mentioned on it
The word cashed means that the value of something has been turned into cash. For example, if a cheque is cashed, the cheque has been handed over and the person now has the cash value of it in money.
PDC = post dated cheque, the date the cheque may be cashed or banked is set in the future.
A Crossed Cheque is also called an Account Payee cheque. This type of cheque cannot be cashed directly. It can only be deposited into an account of the person to whom the cheque is issued. This is done to ensure that in case the cheque is lost, it cannot be cashed by anyone who finds it. Crossing a cheque is done usually by making two parallel lines in the top left corner of the cheque.
Yes but not all the time
It means you cannot cash it. A cheque has to be negotiable to be cashed. Non negotiable means it cannot be cashed. usually if you get a cheque with that stamped on it it is a sample or 'prize' lure for a contest.
Deposit it into your bank account A crossed cheque cannot be cashed directly. It can only be deposited into a bank account.
$500,000
If you issued the cheque, your bank will be able to tell you that.
A cheque is crossed (two parallel lines) to show it can only be paid into an account. A cheque untouched i.e. no lines is called open, and can be cashed over the counter.
A negotiable instrument - such as a cheque - is not crossed and is free to be 'cashed' by the holder (the person who has possession of the instrument).
A Post Dated Cheque is one in which the cheque date will be after todays date. Let us say I give you a cheque today with date October 15th 2011, then it will be a post dated cheque. The point here is that you cannot cash that cheque before October 15th and it can be cashed only on or after the date written on the cheque.