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There are a number of important things that we must keep in mind while writing a cheque. They are elaborated below.
1. Remember to Cross the Cheque
Crossing a cheque means putting two parallel lines on the left hand top corner of the cheque. This means that, the cheque is a Account Payee cheque which means it can only be deposited into another account and cannot be exchanged for cash over the counter. This serves two purposes - you can keep a track of who encashed your cheque and also ensure that even if the cheque is lost, it cannot be misused by anyone. The person to whom the cheque was paid will be recorded.
2. Write the Name of the person to whom the cheque is to be paid in full
It is very important to state the cheque payee's name in full without missing any part of the name in the "pay to line" The name entered here should match the name under which the person holds a valid bank account. If there is any mismatch or spelling mistake the cheque will not be paid
3. Write the amount to be paid both in numbers and words
It is advisable to write both the number value as well as value in words in the cheque. Also care must be taken to ensure that there are no leading or trailing blank spaces while entering these values which might cause tampering of the cheque and modification of the cheque value
4. Write the cheque date promptly
Do not issue cheques that do not have a cheque issue date.
5. Sign the cheque at the bottom right hand corner with the exact signature that is registered with the bank records.
If there is even a slight mismatch between the signature in the bank records and that in the cheque the bank will not release the payment.
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How do you check a cheque?
To check a cheque, you must check if the cheque is checked by checking the checked cheque of checking a checked cheque as a checker.
When does a cheque bounce?
When either of the below happens: * Not enough funds in the account to pay the cheque * Signature of the cheque issuer does not match with the signature in the cheque * Cheque is expired (Date of cheque is before 6 months from date of deposit) * There are any over-writings in the cheque without being counter signed by the cheque issuer.
What is a CAS cheque?
cas cheque
What is a copy of a cheque called?
duplicate cheque
What is the function of a cheque butt?
Functions of a cheque
What is blank check?
A cheque in which the cheque issuer has not filled in the Amount
Is a cheque negotiable instrument?
No. A cheque is a non-negotiable monetary instrument. The value of the cheque cannot be modified or negotiated and hence the term non-negotiable. The amount filled up by the cheque issuer is the value of the cheque and it would not change.
The date amount in cheque is not filled by you can ipc section 138 applied on you?
yes
State one item of information that must be printed on a bank cheque after it has been filled in and it is input to a computer and why it must be done?
state one item of information that must be printed on a bank cheque after it has been filled in and before it is input to a computer
What is cencil cheque?
Assuming you mean a 'cancelled' cheque... Once a cheque has been filled out - it is 'legal tender' in that it can be legally used to pay for something bought (or provide cash). Drawing two widely-spaced parallel lines with the word CANCELLED written between them, voids the cheque, and it cannot be used.
How do you check a cheque?
To check a cheque, you must check if the cheque is checked by checking the checked cheque of checking a checked cheque as a checker.
Difference between order cheque bearer cheque?
A person holding the cheque can collect the amount if it is a bearer cheque. The payee (i.e. the person in whose favour the cheque is issued) only or his authorized person only can collect the amount of the cheque if it is an order cheque
Is the correct grammar a cheque of or a cheque for?
cheque of is a right grammar!
Is a cheque also called a cheque leaf?
Yes. A Single cheque is also called a cheque leaf
What is withdrawal slip?
A withdrawal slip is typically a pre-printed form which must be filled out by the person who wishes to withdraw money from a bank.
When does a cheque bounce?
When either of the below happens: * Not enough funds in the account to pay the cheque * Signature of the cheque issuer does not match with the signature in the cheque * Cheque is expired (Date of cheque is before 6 months from date of deposit) * There are any over-writings in the cheque without being counter signed by the cheque issuer.
What is cheque leaf?
Cheque Leaf means s singhal cheque of your chequebook.
