Can anyone Deposit payee cheque?

An account payee cheque is a type of cheque which can be deposited in the account of the payee (the party to whom the final payment is supposed to be made and whose name is mentioned on the cheque). It cannot be endorsed to anyone else.

What is non account payee cheque?

To write an account payee cheque, you have to cross two lines on the left corner of the cheque and write “A/C payee only” between the two lines. Remember, if you simply cross the cheque and do not mention the words “account payee”, it will become a crossed cheque and not an account payee cheque.

Can you cash a cheque without a bank account?

A bank will only cash a check for a non-customer if a check is issued by that specific bank. Even then, the non-customer could face a check-cashing fee, which varies from bank to bank. More often than not, a non-customer will be persuaded to open an account with the bank to avoid paying the fee.

How do I fill up a payee cheque?

Ideally, you should also write “account payee” or “A/C payee” between the two parallel lines. If you want the bearer or payee to encash the cheque over the counter in any branch of your bank, do not draw the lines or write the words “account payee” or “A/C payee” on the cheque.

How can I cash a cheque without a bank account in India?

Here are five options.

1. Cash your check at the issuing bank.
2. Cash your check at a retailer.
3. Load funds onto a prepaid debit card.
4. Cash your check at a check-cashing outlet.
5. Sign your check over to someone you trust.

Who is payee in cheque?

What does the term “payee” mean? It means the intended recipient of the cheque – the person or business to whom the payer makes the cheque payable.

Can you cash a cheque that says account payee only?

It is standard practice for banks to issue chequebooks with cheques crossed ‘A/C Payee Only’ or ‘A/C Payee” but ultimately this comes down to customer choice. It cannot be cashed over the counter by the payee; it must be paid into an account in the same name as that appearing in the payee line of the cheque.