What is double special crossing?

What is double special crossing?

(4) DOUBLE CROSSING – When a cheque bears two special crossing, is called Double Crossing. In this second bank act as agent of the first collecting banker. It is made when the banker in whose favour the cheque is crossed does not have branch where the cheque is paid.

What is meant by crossing of a cheque?

A crossed cheque is a cheque that has been marked specifying an instruction on the way it is to be redeemed. A common instruction is for the cheque to be deposited directly to an account with a bank and not to be immediately cashed by the holder over the bank counter. Cheques can be open (uncrossed) or crossed.

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What are the types of crossing of a cheque?

Types of Cross Cheque

  • General Crossing. Special or Restricted Crossing (Section 124) In the case of special crossing, the cheque bears the name of the bank, either with or without the words ‘not negotiable’.
  • Special Crossing. Not negotiable crossing (Section 130)
  • Non- Negotiable Crossing. Amount Payee Crossing.

Is double crossing valid?

double cross. noun. Definition of double cross (Entry 2 of 2) 1a : an act of winning or trying to win a fight or match after agreeing to lose it. b : an act of betraying or cheating an associate.

What is crossing and its types?

Crossing and Types of Cheque Crossing. While a crossed cheque is not payable over the counter but shall be collected only through a banker. The amount payable for the crossed cheque is transferred to the bank account of the payee. Types of cheque crossing are General Crossing, Special Crossing and Restrictive Crossing.

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What are the rules of crossing a cheque?

Rules of Crossing of Cheque

  • A cheque can be crossed generally, may be crossed specially by the holder.
  • The Cheque holder has the right to add the words “not negotiable” to it.
  • When an uncrossed cheque or a crossed cheque generally is sent to a banker for the collection, the person may cross it specially to himself.

Why is it called a double cross?

First recorded in 1834 from thieves’ slang cross (or on the cross) to refer to something dishonest, a play on straight/square, and therefore a crook going back on his partners would be crossing the crossers, or double-crossing.

What is a double cross called?

In typography the double cross is called double dagger, double obelisk and diesis.

Can a crossed Cheque be Cancelled?

No, the recipient of the cheque (sometimes called the “payee”) cannot remove a crossing from a cheque nor can the cheque be transferred over to a third party. 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.