What is the difference between bearer cheque and order cheque?

An order cheque is one that can only be paid to a particular payee, who can only pass the cheque to another person by signing his or her name behind it. Whilst bearer cheque does not requires you not to cancel the printed words ‘bearer’ on the cheque, just to fill the amount you want withdrawn.

What are the types of cheque?

Types of Cheque

• Bearer Cheque.
• Order Cheque.
• Crossed Cheque.
• Account Payee Cheque.
• Stale Cheque.
• Post Dated Cheque.
• Ante Dated Cheque.
• Self Cheque.

What is the difference between ordinary cheque and anywhere cheque?

Answer Expert Verified. A Multi city cheque is the type of cheque which is written directly by the customer which can be payable in every branch of that particular branch . For the issue of cheque there are charges that are debited from the account. While the normal cheque is issued by the bank on your demand .

How many type of cheque do we have?

8 Different Types of Cheques Used in Organizations and Banking. A cheque is an official instrument or a document that orders a bank to pay a certain amount of money, which is mentioned on the cheque to the payee, whose name is also mentioned on the cheque, from the bank account of the payer who issues the cheque.

How many types of cheque are there in India?

There are mainly ten types of cheques in India that you should know about.

What is multi cheque?

2. General: Definition of Multi-city cheque: Multi-City Cheque (MCC): It is a cheque drawn by a customer of the Bank in favour of a person/entity named therein and is payable at par at all branches of the Bank, subject to detailed terms and conditions as under.

How many cheques are in a cheque book?

A quick look at the charges being levied by banks shows that generally they provide 20–50 cheque leaves to savings bank customers for free, either on a quarterly or annual basis. Few banks do not provide any free cheque books, while a few others provide free-of-cost cheques every quarter.

What is positive cheque?

Under the positive pay mechanism, the cheque issuer, i.e., you, will be required to verify certain details of the cheque issued by you to ensure that it is cleared, i.e., processed and debited from your bank account. The positive pay system is a process of reconfirming the key details of high-value cheques.