Cheques

A cheque is a written order by which a person can make payments / deposits from / to a specified bank account owned by him. There are 3 types of cheques : An Order Cheque, Bearer Cheque and Counter Cheques.

Order Cheque - Can be payable only the person mentioned over the cheque.

Bearer Cheque - Can be payable to anyone who bears the cheque. These cheque don't have payee mentioned.

Counter Cheques - These are the spcial cheques given by banks on occasion of lack of normals cheques or at the time a customer has run out of the normal cheques. These cheques are used for withdrawal purposes.