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A banking cheque is a paper instrument that can be used to pay money by one person to another. There are two parties involved in a cheque transaction. The payee and the drawee. The drawee is the person who issues the cheque and the payee is the one who is gonna get the cash out of it.
The payee can deposit the cheque in his bank and if the drawee has enough funds in his account, the money would get credited to the payees account within 2-3 working days.
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