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Anyone who is considered an adult/major citizen as per the local constitutional laws, can write a cheque. Usually 18 yrs or older.

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15y ago

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Continue Learning about Accounting

What is chequebook?

it's a book for writing cheques to people


What methods can be used to deposit cash and cheques to a business bank account?

By usin cheques,it can be a cross cheques or open cheques


Can cheques be falsified?

Yes. Cheques can be falsified but it is illegal. Only banks can issue Cheques to their customers. No one else is authorized or rather supposed to print Cheques. If anyone is found/caught printing/using bogus or fake Cheques they can be legally prosecuted and jailed for it.


Why EFT is better than Manual Cheques?

EFT is better than manual cheques for a number of reasons. First of all, EFT is environmentally friendly. No cheques, no envelopes, no stamps, no printer cartridges and no postal staff driving around delivering cheques around the world. Secondly, EFT is more cost effective and less time consuming, both for the sender and the receiver. No more printing, assembling, signing of cheques....and no more waiting for the cheque in the mail, receiving, depositing, etc. A good comparison would that EFT is like writing an email versus Manual Cheques being like writing a letter with pen and paper. EFT is also much more secure. Cheque fraud is a massive problem since a criminal who gets their hands on your cheque has all your information on it, PLUS your signature. With EFT, sophisticated systems with multiple levels of security are being used - versus a cheque which is in an unsecured mailbox, in a paper envelope sealed with saliva.


Can you issue blank cheques?

The answer is a BIG NO. DO NOT issue cheques to anyone that does not contain a cheque value.