The look of a bank cheque varies depending on the bank. Most banks will have an official seal so that people will know it is valid.
A cheque that was not paid by the bank
No. The Cheque wont work.
Cheque Discounting is providing a post dated cheque to a bank by its customer which amounts to the short term loan taken from the bank and the interest charged by the bank.
The bank on which a cheque is drawn (the bank whose name is printed on the cheque) and which pays the amount for which the cheque is written and deducts that sum from the customer's account.
The bank cheque is secure when you know the buyer very well, concernig to his honesty.
A cheque that was not paid by the bank
No. The Cheque wont work.
Owner of Cheque and/or Bank
Cheque Discounting is providing a post dated cheque to a bank by its customer which amounts to the short term loan taken from the bank and the interest charged by the bank.
Submit it to the Teller in a bank where you have a bank account. If it is a bearer cheque and you have an account in the same bank as that of the cheque, you will be paid cash immediately. If it is an account payee cheque, money will get credited to your account in the next 2-3 days
To prevent a cheque from being passed by the bank, you will have to write a letter to the bank telling them not to pass that perticular cheque, and give the cheque number.
Currently in India (As of 2013), all cheques are valid for a period of 3 months only. This rule is irrespective of the bank whose cheque is being used. So, a UCO bank cheque, an ICICI Bank cheque and an HDFC Bank cheque, all of them are valid only for 3 months from the date of issue.
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.
Cheque can be deposited at the corresponding bank only. It is the sentence containing the word cheque.
You cannot. A Crossed Cheque is also called an Account Payee Only Cheque which means that, this cheque cannot be cashed directly. It can only be deposited into the bank account of the person to whom this cheque is issued. So, the only way you can cash the cheque is by opening a bank account (or using your existing bank account) and deposit this cheque.
The bank on which a cheque is drawn (the bank whose name is printed on the cheque) and which pays the amount for which the cheque is written and deducts that sum from the customer's account.
When the bank has not enough funds in the relevant account or the account holder requests that the cheque is bounced (under exceptional circumstances) then the bank will return the cheque to the account holder. The beneficiary of the cheque will have not been paid. This normally incurs a fee from the bank.