answersLogoWhite

0

A crossed cheque can be 'opened' and cashed over the counter when the authorised signatories (right mandate) signs against the crossing. Signing against the crossing could be one of three things: 1. signing on top of the crossing, 2. signing in the crossing, 3. signing beneath the crossing. Note that the combination of mandate that originally signed the cheque must sign to 'open' it.

User Avatar

Wiki User

13y ago

What else can I help you with?

Related Questions

What is open cheque?

Open cheque - An open cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to Crossed cheque - A crossed cheque is also called an account payee cheque. This is a cheque that can be cashed only by depositing it into a bank account of the person who received it. It cannot be directly converted to cash.


What happens when you receive a crossed cheque and you have no bank account?

open a bank account.


What is the nature and crossing appearing on a cheque?

A cheque is crossed (two parallel lines) to show it can only be paid into an account. A cheque untouched i.e. no lines is called open, and can be cashed over the counter.


Where to cash a personal check?

There are two ways. # If it is a normal cheque that has not been crossed (not an A/C payee cheque) you can take the cheque to the cheque issuing branch, provide an identity proof and ask for cash # If it is a crossed cheque (A/C payee cheque) you can take it your bank branch and deposit it into your account. Irrespective of whether the cheque is crossed or not, you can use option no. 2. But only if the cheque is plain you can use option no. 1


How do you encash crossed cheque?

Deposit it into your bank account A crossed cheque cannot be cashed directly. It can only be deposited into a bank account.


Can cross cheque be deposited in bearer account?

A crossed cheque must be banked. If the or bearer is not also crossed/deleted; then, strictly speaking, the cheque can be banked into the holder (bearer) of the cheque [and the bank teller will write the bank account number into which the cheque is being deposited].Some countries will only let the cheque be deposited into the bank account of the person/business named on the cheque (even if the or bearer is not crossed/deleted).


Types of cheques in India?

Based on the location cheques are classified as 1. Local & 2. Outstation cheques Based on its value they are classified as 1. Normal & 2. High Value cheques Cheques r mainly of four types 1)open 2)bearer 3)order 4)crossed 1) open cheques r those which r paid across the bank counter 2) bearer cheque are to be paid to the bearer of the cheque 3) order cheque is to be paid to the payee in person 4) crossed cheque to be paid to the payee's account on submission


Difference between order cheque bearer cheque?

A person holding the cheque can collect the amount if it is a bearer cheque. The payee (i.e. the person in whose favour the cheque is issued) only or his authorized person only can collect the amount of the cheque if it is an order cheque


What is the difference between a crossed cheque and account payee's cheque?

They both mean the same


How do you cash a crossed cheque with no account?

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.


Difference between crossed check and account payee check?

Actually they both refer to the same. A crossed cheque is also called an account payee cheque. These types of cheques can only be deposited into an individuals bank account and will not be cashed over the counter. This is used to minimize misuse of cheque instruments in case of loss or theft. We can always track the destination account into which funds were deposited using our crossed cheque whereas in case of bearer cheques (the ones that aren't crossed and can be cashed over the counter) we cannot.


What is the purpose of crossed check?

A Crossed Cheque is also called an Account Payee cheque. This type of cheque cannot be cashed directly. It can only be deposited into an account of the person to whom the cheque is issued. This is done to ensure that in case the cheque is lost, it cannot be cashed by anyone who finds it. Crossing a cheque is done usually by making two parallel lines in the top left corner of the cheque.

Trending Questions
What does qs stand for in pharmacy? How do you spell cenerter? When was Veridian Credit Union created? Did Ed eaton win the Medal of Honor? What would an army pin with a purple dragon on it shaped like a shield mean It was with Honorable Discharge papers from the army in 1975? What are the girls names who stared in mean girls? How many pushups and situps do you have to do for the Army physical fitness test? Where was George Washington's winter camp? What assets can Medicaid acquire once a Medicaid covered elderly person passes on after living in a retirement home? What was Washingtons goal in international affairs? Does a judge have to specifically state conditions of undue hardship have been met to discharge a student loan and if so starting when was this required? What is Synchronizing global security cooperation programs funding and efforts across the Joint Staff State Department and Military Departments is a key function of? Why does Lincoln avoid referring to himself in the second paragraph of his Second Inaugural Address? What is Mitt Romney's ethnicity? GFEBS What are the following attributes of the current Legacy Process? Did Grover Cleveland support plessy v Ferguson? What is the average cost of warehouse space per square foot cost in Savannah Georgia? Did President George HW Bush refuse to impose an embargo or trade sanction upon Iraq after it had invaded Kuwait? What bibliophiles collection began the Library of Congress? Does being a pediatrician let you have a social life outside of work?