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A bank may refuse to accept an account payee cheque if:
a. The person trying to cash the cheque doe not have an account with the bank
b. If the name on the cheque does not match the person trying to cash it
c. If the cheque is expired (More than 90 days in the past)
d. If the signature on the cheque does not match the signature of the person who issued the cheque
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∙ 12y ago
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Why a bank may refuse an account payee only check?
A bank may refuse to accept an account payee cheque if: a. The person trying to cash the cheque doe not have an account with the bank b. If the name on the cheque does not match the person trying to cash it c. If the cheque is expired (More than 90 days in the past) d. If the signature on the cheque does not match the signature of the person who issued the cheque
Can you use account payee checks as self check?
No. An Account Payee cheque can only be paid into a bank account and not as cash, which is the case for a self cheque.
What does account payee mean?
payee is the person whom the cheque, draft or money order is made out to.
How do you denote account payee on a check?
a/c
How do you denote account payee on cheque?
a/c
Why a bank may refuse an account payee only check?
A bank may refuse to accept an account payee cheque if: a. The person trying to cash the cheque doe not have an account with the bank b. If the name on the cheque does not match the person trying to cash it c. If the cheque is expired (More than 90 days in the past) d. If the signature on the cheque does not match the signature of the person who issued the cheque
Can you use account payee checks as self check?
No. An Account Payee cheque can only be paid into a bank account and not as cash, which is the case for a self cheque.
Does a cheque have to clear in an account if it says account payee?
yes
What does account payee mean?
payee is the person whom the cheque, draft or money order is made out to.
How do you denote account payee on a check?
a/c
How do you denote account payee on cheque?
a/c
What is a payee?
The payee is the one that receives a payment. On a check or money order, the payee is the person the check is made out to. This is the person who can cash the check, or deposit it into his account. On a promissory note he is the one who receives the money from the loan.
Is a Pan Card needed for an account payee cheque over rs50000?
Quoting of PAN is required in various banking transactions. But PAN is not required for an account payee cheque over Rs.50,000/-.
What does non-transferable check means?
The cheque is not transferable to any other account other than the payee's account.
Is crossed demand draft is same as account payee demand draft?
yes
Credit the account for the within named payee without peg regulus?
prejudice
What brings about return inward?
Return Inwards are cheques that are rejected for any reason by the payee Bank. There can be a number of reasons for return inwards, like insufficient balance in the Debit Account, Account not present, Payee Signature invalid etc.
