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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.
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What does or bearer written on a cheque mean?
'or bearer' means that the check can be cashed by whoever presents the check to the bank - bearer means carrier in this context.
What is a bad check?
A bad check is a check written against a bank account with insufficient funds to pay the bearer the amount of the check.
Is Paul Bearer still fat?
no he has slimmed down check it on, were are there now?on wwe.com!
What is bearer means?
The term "bearer" typically refers to a person or entity that holds or possesses a particular document, instrument, or entitlement, such as a bearer bond or a bearer check. In finance, bearer instruments are transferable by mere delivery, meaning that whoever physically holds the document has the right to claim the associated value. The concept emphasizes ownership without the need for formal registration or identification of the holder.
What is the Difference between cross check and bearer check?
In the case of a bearer cheque, the bank has to pay the person who is holding the cheque and presenting it for payment. In case of a crossed cheque, the bank will only credit the money into the persons bank account. They will not issue cash
What is the person who raises and lowers the flag called?
"flag-bearer"
Is a written check clearly intended for the party receiving the check but missing the receiving party's name still valid?
UCC 3-309(a)(2)-- check is treated as "payable to bearer."
What does a crossed check look like?
In a crossed check, two parallel lines are drawn on the body of the check implying that payment would only be effected to the payee only, and not to any bearer.
What rhymes with flag bearer?
tag bearer
How do you spell pall bearer?
pall bearer
What is a cone bearer?
A cone bearer is a cone that bears
What means pore bearer?
What means pore bearer
