0
There are two types of cheque books that are currently available:
a. Cheque books linked to Savings Accounts
b. Cheque books linked to Current or Checking Accounts
Though the function of the cheque issued to either of the accounts is the same, it is distinguished by the type of account from which money is taken to pay the cheque.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Is it legal that a bank can charge to cash a check?
Yes, it is legal for a bank to charge a fee to cash a check. Banks often charge fees for various services, including check cashing, to cover administrative costs and generate revenue. It is important to check with your specific bank to understand their policies and any associated fees.
What is a bearer check?
A Bearer Cheque is a type of cheque which will be encashed by a bank and paid out as cash to the person holding the cheque. For ex: If I owe you Rs. 10,000/- and give you a bearer cheque of my bank account with ICICI Bank, all you have to do is, visit your nearest ICICI Bank branch and then submit the cheque for payment. The bank will ask for your identity proof to verify that you are indeed the payee for the cheque and if they are satisfied, they will give you the cash right away.
What is maximum amount payable by bearer cheque by saving bank account?
It depends upon the bank type. Just visit your bank.
What is the type of ink used on the leaflet of the co operative bank cheque?
blue and black
What is the cheque bounce charges of HDFC?
cheque bouncing charges for HDFC are dependent on the type of account you may have, they may vary from INR100 to INR750, the best way to confirm the same for your account is to call the bank and ask them to answer it for you. One thing you always get for Free : An Advice
How do you write a bank check?
Here are 2 answers for you. 1) A "Bank Cheque" is also called a "bank draft". You don't actually write it, you go to the bank, give them the amount of money you want the "draft" for and they will type you a cheque drawn on their branch. This draft/cheque is already paid for and therefore considered not at risk of being without sufficent funds. Most companies and people love them. As a side note it is possible to put a "stop payment" on it but it is very tricky and generally is only "stopped" if lost or destroyed. 2) If you are meaning a personal cheque drawn on your own account, it is quite simple. Basically fill in the blanks on the cheque, date, person/company you want the money to go to, print the amount in numbers in the small area below the date, then write the same amount in words, then sign and you are done.
What is a self cheque?
A self cheque is a cheque where the payee and the payer are the same individual. This type of cheque enables the account holder to withdraw funds from their own account. It is not typically accepted for third-party transactions.
How long does it usually take to receive a settlement check that has already been settled?
It is modern practice to make an inter-bank transfer. When I was selling boats I would transfer the money immediately I had cleared funds. Depositing the cheque does not give funds access until the bank has cleared the cheque and received the funds from the other bank. Settlements of any type can not take place until the funds are cleared which can take 3-5 working days.
What will be the initial deposit to open an SBI bank Account?
It depends on the city/town where the bank branch is and also depends on the type of the account and the type of the customer. For a normal savings account, the minimum balance would be around Rs. 500. If you require cheque book and ATM card facility they may ask for a min balance of Rs. 1000. For students and senior citizens usually the amount is lesser than for a normal citizen of India
What is the purpose of crossed check?
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.
If you give self cheque to your father for withdrawal do you have to sign on the overleaf of the cheque or your father has to sign on the overleaf?
Type your answer here... my father has to sign
What is the name of the cheque type that is made out to a future date?
Post dated
