Various Types of Cheques


A cheque is an unconditional order addressed to a banker, signed by the person who has deposited money with a banker, requesting him to pay on demand a certain sum of money only to the order of the certain person or to the bearer of the instrument.

TYPES OF CHEQUES-

1) Bearer Cheque

Bearer cheques are the cheques which withdrawn to the cheque's owner. These types of cheques normally used for a cash transaction.


For example - Ram has a savings account in HDFC bank. He brought a cheque from his chequebook to the HDFC bank branch where he has an account. He can present the cheque to the bank and withdraw money from his account. This type of cheque is known as Bearer Cheque.
BEARER CHEQUE

2) Order Cheque

Order cheques are the cheques which are withdrawn for the payee(the person whose name is written on the cheque). Before making payment to that payee,cross-checks check the identity of the payee.
For example - Ram has a savings account in HDFC bank. He wanted to make payment of Rs.100,000 to Sham. Ram gave a cheque to Sham, writing his name on the cheque. Sham will present the cheque to HDFC bank and he will get the cash.
ORDER CHEQUE

3) Crossed Cheque

On the Crossed cheques, two lines are made on the top right of the cheque. Amount mentioned on the cheque is only transferred to the bank account of the payee. No cash payment is made.

CROSSED CHEQUE

4) Account Payee Cheque 

On the Account payee cheque, two lines are made with the word "account payee" on the top right of the cheque. Amount mentioned on the cheque is only transferred to the bank account of the payee whose name is mentioned on the cheque. No cash payment is made. This cheque can not be endorsed to the third party.
ACCOUNT PAYEE CHEQUE

Difference between Crossed cheques and Account payee cheques

Crossed cheques can be endorsed to other parties while the Account-payee cheques can't be endorsed and funds are only transferred to the account whose name is mentioned on thechequee.

5) Stale Cheque

In India, if a cheque is not presented to the bank within 3 months from the date written on the cheque is known as a stale cheque.

For example - On 10 January 2019, If the cheque is presented to the bank on 10 April 2019, the chque will be returned by bank stating that cheque is stale.
STALE CHEQUE

6) Post Dated Cheque

If any cheque issued by a holder to the payee for the upcoming withdrawn date, then that type of cheques are called post-dated cheque.

For example - On 10 January 2019, Ram issued a cheque to Sham. Date written on the cheque is 10 February 2019.
POST DATED CHEQUE

7) Ante Dated Cheque

If date entered on the cheque is prior to the current date, that type of cheque is known as Ante-dated cheque.

For example - On 10 January 2019, Ram issued a cheque to Sham. Date written on the cheque is 10 December 2018.

ANTE DATED CHEQUE


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13 comments:

  1. good day ahead friends.

    ReplyDelete
  2. sir, plz provide material of professional knowledge as soon as possible.

    ReplyDelete
  3. sir these questions will help us for exam thanks alot

    ReplyDelete
  4. ibps allotted me wrong examination centre. what can i do now?

    ReplyDelete
  5. in que 10, the name of the project is 'unlearn' which is launched by CRY

    ReplyDelete
  6. Thank you sir good information

    ReplyDelete
  7. Sir , IBPS po final results will be in April ? or the score will be given a bit earlier ?

    ReplyDelete
  8. P.O in S.B.I aka (Cameo Sis)..January 29, 2015 at 9:27 PM

    Sir sahi m ibps po mt 3 ki second list aayegi or ibps bus wait kr rhi ki
    validity kb katm hoyegii.. aur result nhi denge..?? plz rply sir...
    plzz raman sir

    ReplyDelete
  9. My ibps po 4 Interview experience of 28/01/15
    I said please may i come in.
    m1 Said yes.
    i replied thank you
    i said good morning mam and good morning sir.
    then wished the same and asked me to sit.
    i said thank you.
    m1 Asked.
    tell me about yourself.
    me Told but they asked me to repeat the last line.
    then he said okk you told before we asked and they laughed.
    m1 Imf full form
    me answered
    m1 Its head
    me sorry i forgot
    m2 Gave me hint
    me told the answer
    m1rrb sponsorship
    me Replied
    m1 Central bank of india and rbi are separate.
    me replied
    m1 Sdr
    me repled
    m1 Three functions of rbi
    me i told 2 Only.then said i dont know third
    m1 imf vs world bank
    me Sorry i dont know
    m1 You can try
    me sorry sir it is better to be safe than wrong.
    m1ok good
    m1 Adb
    me american depository sorry asian development bank .i said i thought to be adr.
    m1 Its headquarter
    me forgot
    m1 Gave me hint
    me told answer
    m1 Regulator of rrb
    me told
    m3 So you are engineer
    tell about system and application sofware
    me told
    m3 Chip name
    me Told
    m3 Money policy
    me told
    m3 Crr
    me told
    m4 Your hobby
    me cricket
    m4 Length of pitch
    me told
    m4 Captain of australia
    me told
    m4 Bit?
    me told
    m4 Write 5 In bit
    me Aeked for paper to solve as i bacame little nervous
    m1 Gave me paper
    me solved but gave wrong answer
    m4 No wrong
    me Sorry sir
    finally M1 Thank you
    you can go
    me thank you.

    ReplyDelete
  10. P.O in S.B.I aka (Cameo Sis)..January 30, 2015 at 7:40 PM

    Thnxxx 4 rply Raman Sir..Hope so dat secnd list will come out soon..

    ReplyDelete
  11. Sir po4 ka final result kab tak aayga? ??

    ReplyDelete
  12. Sir wat was yesterday's delhi high court verdict? Do u thnk secnd like st will b out by15 feb

    ReplyDelete

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