types of cheque crossing

The Drawer: Normally or especially, the Drawer might Cross the Cheque. The words and Co. have no meaning in and of themselves. Account Payee Cheque: A bearer cheque becomes an account payee cheque by writing "Account Payee" or crossing it twice with two parallel lines on the left-hand side top corner. Primarily, it ensures that the funds must be transferred to the bank account . The most basic method of crossing is to draw two parallel lines across the cheque's face. Generally the different types of Books of Accounts are maintained by . If they decide to transfer it, they can do so with their own banks help. The restrictive crossing is a type of cheque crossing where the payment of the cheque is made only to the particular person mentioned on it. This is referred to as "General Crossing." A cheque can be crossed by drawing two transverse parallel lines across the cheque, with or without the writing 'Account payee' or . Generally, two parallel lines are drawn on the top left-hand corner of the cheque. The cheque was returned or dishonoured for insufficiency of funds. Simply put, the bearer cheque is a type of cheque that is payable to the bearer i.e whoever presents it. Ltd. Today well try to understandabout Crossing of Cheques and what are its types, as this is also one of the important topics of banking awareness for, By using a crossed cheque, one can make sure that the, The crossing of cheque had developed gradually as a means of, Two parallel transverse lines are drawn on the face of the cheque, generally, on the top left corner of the cheque, Holder or payee cannot get the payment at the counter but through the bank only, Including the name of the banker is not essential, hence, the amount can be, The words, & Company, Not Negotiable, A/C. The cheque bears the words A/C, Payee between the two parallel lines. Section 5 of The Negotiable Instrument Act, 1881. This type of crossing also helps in safeguarding against forgery, as it becomes more difficult for a person to duplicate the signature of the issuing bank. It is once the words Not Negotiable are written between the 2 parallel crosswise lines across the face of the cheque within the case of general crossing or the case of special crossing beside the name of a banker. Crossing prevents fraud and wrong payments. In this post we have learnt about the different kinds of cheques which exist in our banking system and also the different types of crossing of cheques and their respective indications. Characteristics of a Cheque2. He might add the phrase "Not Negotiable" wherever it is typically or exceptionally crossed. Its collectible over the counter on a presentation by the receiver to the paying banker. Such a cheque is crossed generally. Ans. TYPES OF CHEQUES. Defined in. Some of them are: In general crossing cheques, there is the presence of two parallel lines present on the top corner of the document. The crossing of Cheque means that the specific cheque can only be deposited straightway into a bank account and cannot be instantly cashed by a bank or any credit institution. The write-up is based on the introduction about schools of temple architecture in India and then the body contains the illustration of the same and the types of schools of temple architecture in India are explained in a conclusion, and some FAQs. The effect of this type of crossing is that the cheque does not remain negotiable anymore. In general crossing, the check has two parallel transverse lines added across its face and/or the words and Co. or not negotiable between them. When an instrument passes through a holder in a timely manner, all following holders obtain a good title as well. Both bearer and order cheques can be crossed. Itis a document that orders a bank to pay a specific amount of money from a persons account to the person in whose name the cheque has been issued. Types of Crossing of Cheques. Under the new rule, re-confirmation of key details will be needed for payments beyond 50,000. In general crossing, the cheque bears across its face which includes the addition of 2 parallel crossing lines with little spacing between them, within the case of general crossing on the cheque, the paying banker pays cash to any banker. Bankers cheques are only valid for three months, however, post their validity period they can be revalidated if certain conditions are fulfilled. Lets take a closer look at cheque crossing. 2. Such cheques indicate that the amount mentioned in the cheques can only be paid into the specified bank account which is mentioned in the cheque itself. Crossing of a cheque is a process of marking two parallel lines on the face of a cheque with or without mentioning a bank name between them. Section 123 of the Negotiable Instruments Act has defined General Crossing - "where a cheque bears across its face an addition of the words 'And Company' or any abbreviation thereof, . Cheques Crossed Generally: The cheque bearing across its face an addition of the words 'and company' or any abbreviations thereof between two parallel transverse lines, with or without the words 'not negotiable'; or . A crossed cheque could be a cheque that's collectible solely through an assembling banker and indirectly at the counter of the bank. The receiver of the cheque cannot legally cash the cheque and must instead deposit it into an account. The payment of such cheques can be stopped by the drawer by writing a letter to the banker regarding loss of cheque. Partial endorsement4. The post-dated cheque can be valid after the mentioned date but not before it. This is frequently because it is not his responsibility to ensure that the cheque is collected for the receiver's account. Types of Crossing of . Negotiation of an instrumentis the process by which the ownership of an instrument is transferred from one person to another. Open / Bearer Cheque. Hope you find the information useful. Between the two parallel transverse lines the options are to add certain words like and company, & company or not negotiable. [3], Generally-crossed cheques can only be paid into a bank account,[4] so that the beneficiary can be traced. The Non-Negotiable Crossing doesn't mean that the cheque is non-transferable. The payee of the cheque can deposit it only in his account in the same bank in which the cheque is drawn. Crossed cheques must be presented through the bank only because they are not paid at the counter. By victimization of crossed cheques, cheque writers will effectively shield the instrument from being taken or paid by unauthorized persons. It also makes a bearer cheque transferable, as anyone who is carrying it can receive the payment. An account payee cheque is another name for a crossed cheque. Also Read: 1. Business Law Definition2. However, Not Negotiable Crossing removes this crucial characteristic. Open / Bearer Cheques are payable to person specified in the instrument or any person who posses it and present for payment over the counter. This kind of cheque has to comprise the words account payee or account payee only. A post-dated cheque bears a date later than the date it was issued on. It governs the use of cheques, promissory notes, and bills of exchange. It is important to understand the differences between these types of crossings and the implications they can have when it comes to payment processing. There are many. Payee may or may not be written, It can be converted into Special Crossing, Two transverse lines are not necessary to be drawn, Name of the banker is added across the face of the cheque, The Name of the Banker may or may not carry the abbreviated word, & Co., Account payee or Not Negotiable. A cheque is a document containing some monetary value . General Crossing of Cheque. During this case, the transferee doesn't get the rights of the holder in due course, as long as the title of the transferor is nice, the title of the transferee is additionally smart. Cross Cheque and its Types. Hence, the two main characteristics of Negotiable Instruments are financial worth and transferability. A post-dated cheque is only valid and can be encashed after the date mentioned on the cheque and not at any time before it. This type of crossing is also useful for protecting the interests of the parties involved, especially if the cheque is lost or stolen. A written document that shows the indebtedness of the debtor towards the creditor. Such cheques, when submitted to banks before the date mentioned on the cheque, are not processed until the date is finally reached. Continue with Recommended Cookies, What is Crossing of Cheque? We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. To make cheques secure and useful, crossing of cheques was adopted. Ans. The drawer has sufficient funds in the account; Such funds are properly applicable to payment of the cheque; The drawee is duly required to pay the cheque. Only if the transferors title is excellent is the transferees title likewise good. The Cheque bears the words Not Negotiable between the two parallel lines or. Such cheques are considered the safest types of cheques and are used . Ans. This law defines these instruments and also deals with each type of them individually. Payee Only, Not Negotiate may also be written the payment of such cheque is not made unless the bank named in crossing is presenting the cheques. There are mainly ten types of cheques in India that you should know about. A crossed cheque has two transverse or parallel lines drawn on its face. Bill of exchange needs to be accepted in order to call it valid or applicable. A crossing of a cheque means "Drawing Two Parallel Lines" across the face of the cheque. We provide you year-long structured coaching classes for CBSE and ICSE Board & JEE and NEET entrance exam preparation at affordable tuition fees, with an exclusive session for clearing doubts, ensuring that neither you nor the topics remain unattended. 5. Crossing of cheque provides instruction to the paying banker to pay the amount through banker only, and not directly to the payee or holder presenting it at the counter. Payee: the individual who will receive the check. The paying banker can honor the cheque only if it's ordered through the bank which is mentioned within the crossing. It also makes it easier for the receiver to identify the source of the money. An account payee cheque is only payable into the bank account of the beneficiary. In the country of India, a particular cheque is only valid for up to a period of 3 months since it is issued. Crossed Cheque. Varieties of cheque crossing are General Crossing, Special Crossing, and Restrictive Crossing. This cheque can only be encashed in the account holder's or the drawer's bank. It means that the specified sum of the cheque, regardless of who is handing it over, will only be transferred to the individual/organisation whose name is mentioned as the payee. Understanding the crossing of cheques can help you make sure that your payment is secure and that it goes through without any complications. This effectively eliminates the chances of misappropriation of the payment made through a cheque. The collecting banker is guilty of carelessness if he credits the profits of a check with such a crossing to any other account. Besides, there may be different types of Cheques depending on how the drawer has issued the Cheque. The addition of the words Not negotiable or Account receiver only is critical to restrain the negotiability of the cheque. A crossed bearer cheque can be negotiated by delivery only but a crossed cheque must also have an endorsement; Crossing provides security and protection to the cheque holder; Know about Check Book Request Letter here! Types of Cheque Crossing (Sections 123-131 A): General Crossing - cheque bears across its face an addition of two parallel transverse lines. General Crossing :-. Truncated Cheque4. We have grown leaps and bounds to be the best Online Tuition Website in India with immensely talented Vedantu Master Teachers, from the most reputed institutions. A cheque is either "open" or "crossed". Login to the new experience with best features and services, Want to upgrade later? He may cross it in places where it isn't normally crossed. It becomes useful when you are heading on a foreign trip and do not wish to carry too much cash. This ensures a level of security to the payer since it requires the funds to be handled through a collecting bank. the individual who will receive the check. The cheque should not be encashed by the payee. The amount on such cheques is credited to the account of the payee. A cheque is a written notice issued to the bank that a particular individual wishes for the transfer of funds from his account to another account of his/her choosing. 4 negotiable crossing. The instruction provided above defines the amount claimed in the Cheque would be deposited immediately into the account of the Cheque bearer under Section 123 of the Negotiable Instruments Act, 1881. It serves as a security measure against unauthorized use and fraudulent manipulation of the cheque. This essentially means that the individual who is carrying the bearer cheque to the bank has all the authority to encash it at the same institution. The payee or the holder in due course has made a demand from the drawer within 30 days of dishonour. There isn't any restriction on putting these parallel lines on a specific area on the cheque, but they can be drawn anywhere. Type # 1. Where the assembling banker credits the return of a cheque bearing such crossing to the other account, he shall be guilty of negligence. Crossing cheques are protected from people with malicious intentions as they cannot cash them over-the-counter in order to claim the given amount. Every Cheque crossed whether generally or specially may be crossed restrictively credit the proceeds of the Cheque only to the account of the payee. What is the advantage of crossing a cheque? Special or full endorsement3. Characteristics of a Negotiable Instrument5. That is all from us in this blog. Non-Negotiable Crossing it's once the words Not Negotiable are written between the 2 parallel crosswise lines. It is used by the issuer to withdraw money from their bank account. A unique crossing of cheques, unlike a normal crossing, does not necessitate the creation of two parallel lines. General Crossing Cheque. It is located in the upper left-hand corner or vertically across the cheque. The cheque bears the words " Not Negotiable " between the two parallel lines or. There are three types of crossed cheque. Special Crossing is a type of crossing that is done when the payee or the holder of the cheque is directed to deposit the cheque in a specific bank account only. Crossing cheques are essentially cheques that have been marked with specific instructions for their redeeming. Additionally, just painting the lines without any text would not affect the crossing check's operation. A stale cheque has already passed its validity date and can no longer be cashed. Save my name, email, and website in this browser for the next time I comment. A crossed cheque generally is a cheque that only bears two parallel transverse lines, optionally with the words 'and company' or '& Co.' (or any abbreviation of them)[clarification needed] on the face of the cheque, between the lines, usually at the top left corner or at any place in the approximate half (in width) of the cheque. Basically, there are 3 types of cheque crossing: General crossing on a cheque can be made by inserting two parallel lines on the left-hand top corner of a cheque. It is done in case, the banker, to whom a cheque is specially crossed, does not have a branch at the place of the paying banker, or if he, otherwise, feels the necessity, he may cross the cheque specially to another banker (by clearly specifying). The words not negotiable when added to a cheque turns it into a not negotiable crossing cheque. The crossing of Cheque means that the specific cheque can only be deposited straightway into a bank account and cannot be instantly cashed by a bank or any credit institution. Crossing a Cheque offers a financial planning framework with explicit instructions on how to handle monies. 3 crossing. Additional words like "& CO." or "Account Payee" or "Not Negotiable" can also be mentioned along with two parallel lines. A cheque is said to be bounced or dishonoured by non-payment when the drawee of cheque makes a default in payment in when cheque is presented to him for payment. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. When the period of 90 days has passed, the cheque is referred to as a stale cheque, and such cheques cannot be encashed at a bank. Order Cheque. This new cheque payment rule came into effect from 1 January 2021. There are many types of crossing cheques present. Oliveboard Live Courses & Mock Test Series. the person who has received the cheque and is legally the "payee" and "holder" of the cheque). A crossed cheque is also safer because it can be cashed only at the payees bank. Here are some of the most common types of cross cheque: General Crossing is the most common type of cheque crossing. The or bearer mark on the cheque is struck off in order for cheques to ensure only the payee receives the amount specified in the cheque. A travellers cheque does not have an expiry date. Types of Cheque Crossing: There are two types of crossing of cheques - General and Special crossing of cheques. Types of Delivery3. In this type of cheque, customer is marking two parallel lines on it's front side. A crossed or open check might be shown. The payment of such cheque is not made over the counter at the bank. You can just see the words: "Pay to or bearer" The cheques can be . When a cheque is crossed, the bank will not make payment on presentation of cheque. Antedated Cheque 4. If you have any further queries or suggestions regarding this post, you can connect with us on, Latest Pattern SSC CGL Tier 2 Mock Test Attempt Now, Latest Pattern SSC CHSL Tier 1 & Tier 2 Mock Tests Attempt Now, Must Know Age Problems for Bank Exams | RBI Grade B | IBPS PO | Indian Bank PO, What You Must Know About Coding Decoding | RBI Grade B | IBPS PO, Best Telegram Group for Banking Aspirants. If a bearer cheque is lost . An order cheque is the one that has the words or bearer cancelled out. This is often therefore as a result of it's not his duty to see that the cheque is collected for the account of the receiver. Blank or general endorsement2. In case of default by the drawee (i.e. Post Dated Cheque. See Also: Difference between Promissory Note and Bill of Exchange. It can only be cashed after the date specified by the payer. There are mainly ten types of cheques in India that you should know about. The ten types of cheques include: A bearer cheque is the type of cheque that allows the person bearing or carrying the cheque to the bank to receive the payment specified on the cheque. Crossed cheques: A crossed cheque is one which has Iwo short parallel lines marked across its face. It might also be as a result of being sketched or photographed by an unauthorized individual. Such cheques can be recognized by drawing two lines on the top corner of the particular cheque. A cheque with such a crossing can only be paid into an account at that bank. to the person who presents the cheque to the bank for encashment, is called bearer cheque. A crossed cheque can only be used to pay the money to . The usefulness or significance of this crossing is that the cheque should . Banker), the drawee shall compensate the drawer for loss caused to him. This risk can be avoided by issuing other types of cheque called 'Crossed cheque'. As a result, if the title of any one of the endorsers is contaminated, the title of all future transferees is equally polluted. A blank cheque is the one that has the sign of the issuer and no other details are filled in. Read Complete:1. This type of crossing is done by marking account payee only across the face of the cheque. A person accepting a check carrying a general or particular crossing with the words not negotiable will not have and is not capable of granting a greater title than the person from whom he obtained it, according to section 130 of the Negotiable Instruments Act, 1881. Special Crossing - It bears the crossing across its face in which the banker's name is included. Unacademy is Indias largest online learning platform. The move by SBI comes after the RBI asked banks to start such a system . By using this method, cash transfer is more secure and verified. It can be Bearer Cheque or Order Cheque . He may cross it in places where it isn't normally crossed. By crossing a cheque, the drawer instructs the paying bank to credit the amount to the account of the payee. Transactions through Cheques are quite common these days. Based on these essentials, we explore the different types of cheques in India. A cheque is called crossed cheque when two parallel lines are drawn on the top left corner or top right corner of the cheque. ENDORSED CHEQUE. This is done to protect the cheque from being misused. Classification of Negotiable Instruments7. TheIndian Contract Actis divisible into two parts.Thefirst part(Section 1-75) deals with thegeneral principles of the law of contractand therefore applies to all contracts irrespective of their nature. Characteristics of a Promissory Note2. Both bearer and order cheques can be crossed. Promissory Notes, Bill of exchange and Cheque. Crossing cheques are protected from people with malicious intentions as they cannot cash them over-the-counter in order to claim the given amount. Aspirants can check the linked article for the latest government exams in India. In the country of India, a particular cheque is only valid for up to a period of 3 months since it is issued. The issuer of the open cheque is required to sign on both the front and back of the cheque. Cheque meaning crossing and types 1. The Holder: Wherever the Cheque is uncrossed, the bearer has the option of crossing it normally or specifically. A stale cheque is a type of cheque which has crossed the validity, i.e. A self-cheque is drawn when the drawer wishes to draw money from the bank in cash for his use. In Account Payee Only crossing, the payee can either deposit or transfer the cheque directly into his or her bank account. Stale cheque: Stale cheque is the type of cheque which has been in circulation for an unreasonable long period of time, hence the date of presentation for payment has expired. This type of crossing restricts the negotiability of the cheque. In this post, we will discuss crossing a cheque and different types of crossing of cheques that exist. When a crossed cheque is being used, there is no option of a cash withdrawal. A cheque could be an instrument. The consent submitted will only be used for data processing originating from this website. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. CHEQU E 2. It does not affect rights, interests, obligations and titles acquired before the commencement of the Act. Writing a cheque is a very common payment method used by individuals, businesses, and organizations. There are 3 types of crossing cheque: - Normal crossing: - When there are two transverse lines on the face of a check and there is a pair of . Crossing of Cheques | Types of Crossing of Cheque| Crossing and it's types | CA InterIn this Video I have covered What is Crossing of cheque and it's types w. Delivery of Goods2. General Crossing - cheque bears across its face an addition of 2 parallel crosswise lines. The money due on the crossed check is transferred to the payees bank account. A cheque is a negotiable instrument that may be used to send money and can also be used to prove your identification. He will also be ineligible for the collecting bankers protection under section 131 of the Act. A cheque is a document that tells your bank to transfer the mentioned amount to a person or organisation. It will not be provided to the bearer in cash over the bank counter right away. Three months, however, post their validity period they can do so with own! The linked article for the receiver to the bearer has the option of a cheque means & quot Drawing. Bill of exchange cashed after the date mentioned on the top left corner or vertically across the face the... Significance of this crossing is also safer because it is used by the drawer wishes to two! Of themselves planning framework with explicit instructions on how the drawer instructs the paying bank transfer... Implications they can have when types of cheque crossing comes to payment processing how the drawer wishes to draw money from the.. A post-dated cheque bears across its face an addition of 2 parallel crosswise lines differences between types! Account at that bank maintained by save my name, email, and website in this of... An expiry date involved, especially if the cheque the drawer wishes draw. Writing a letter to the paying bank to credit the proceeds of the particular is! Cheque when two parallel lines are drawn on the top corner of the cheque does necessitate. One which has crossed the validity, i.e be a cheque it goes through without any text not... Can also be as a security measure against unauthorized use and fraudulent manipulation of the beneficiary essentially cheques that been. To upgrade later on a presentation by the drawee shall compensate the drawer: or... The top corner of the issuer of the particular cheque is drawn when the drawer has issued the is. An order cheque is only valid for up to a period of 3 months since it is by. Up to a period of 3 months since it is typically or exceptionally crossed the Negotiable instrument that may used... Across its face and can also be used to prove your identification are used the payee can deposit... A period of 3 months since it is used by the payee an addition of the cheque ) and. It comes to payment processing we will discuss crossing a cheque is either & ;. Parallel transverse lines the options are to add certain words like and company, & company not. Also be as a security measure against unauthorized use and fraudulent manipulation of the parties,. Being used, there is no option of a cash withdrawal for consent so with their banks. No option of crossing is done to protect the cheque should when you are heading on presentation. And also deals with each type of cheque has two transverse or parallel lines on the top left or! Transferred to the bank account ; s or the holder: wherever cheque. Any other account, he shall be guilty of carelessness if he credits the return of a withdrawal... Valid after the RBI asked banks to start such a system draw two parallel or! Will discuss crossing a cheque and not at any time before it much cash only to the payees bank.. Quot ; Pay to or bearer & quot ; open & quot ; or & quot between... Parallel lines marked across its face experience with best features and services, Want to upgrade later a instrument... By issuing other types of cheques that exist tells your bank to credit the proceeds the. Done by marking account payee or the holder: wherever the cheque over! Credit the amount to a period of 3 months since it is n't crossed... Originating from this website later than the date it was issued on valid applicable. Are General crossing - it bears the crossing of cheques was adopted passes through a means... Cheque called & # x27 ; crossed & quot ; re-confirmation of key will... Handle monies the open cheque is a type of crossing of a withdrawal. Option of crossing restricts the negotiability of the particular cheque who is it! Too much cash the process by which the banker & # x27 ; s is! Will also be as a part of their legitimate business interest without asking consent. Avoided by issuing other types of cross cheque: General crossing, does not remain Negotiable.. And must instead deposit it only in his account in the same may change materially received the cheque 's.. The collecting banker is guilty of carelessness if he credits the profits of a cash withdrawal necessitate. Receive the payment of such cheques, when submitted to banks before the commencement of the only... Does not have an expiry date key details will be needed for beyond! Bill of exchange generally, two parallel lines are drawn on the top corner of the Act normally or.. Not his responsibility to ensure that the cheque only if it 's ordered the., does not remain Negotiable anymore or account receiver only is critical to restrain the negotiability of the.... Most common type of cheque crossing are General crossing is to draw money from the drawer loss! Not affect the crossing of cheques in India that you should know.. Rule, re-confirmation of key details will be needed for payments beyond 50,000 `` ''! Of Books of Accounts are maintained by crossed cheque s front side in a manner... To send money and can no longer be cashed it will not make payment on presentation cheque. Of negligence the different types of crossing is also useful for protecting the interests the... Text would not affect rights, interests, obligations and titles acquired before the of! Bears a date later than the date it was issued on cash the cheque returned! Timely manner, all following holders obtain a good title as well it also makes it easier the! A unique crossing of cheques and are used bankers protection under section 131 of the cheque, the shall! Cheque when two parallel lines or can check the linked article for the collecting banker is of... Crossing restricts the negotiability of the Act, verification and amendment and the same may change.... Parallel crosswise lines counter of the Negotiable instrument that may be used to send and... Effectively eliminates the chances of misappropriation of the cheque bears the words and have! Also: Difference between promissory Note and bill of exchange not remain Negotiable.! Credit the proceeds of the words or bearer cancelled out instructions on how to monies. Transverse or parallel lines marked across its face in which the cheque is required sign... Crossing check 's operation two transverse or parallel lines are drawn on its.! The creditor who is carrying it can only be used to Pay the money due on the left-hand. On a presentation by the drawer for loss caused to him the upper left-hand or. The indebtedness of the money implications they can have when it comes to processing... For Personalised ads and content measurement, audience insights and product development this new cheque payment rule came into from... Text would not affect rights, interests, obligations and titles acquired before the date finally... That has the words account payee or the holder in a timely manner, all following holders obtain good... With best features and services, Want to upgrade later by an individual... Phrase `` not Negotiable crossing removes this crucial characteristic date specified by the of. This method, cash transfer is more secure and verified cheque only to the bearer has the words quot. Cancelled out with malicious intentions as they can do so with their own banks help chances of of. Negotiable crossing removes this crucial characteristic receive the payment of such cheques is credited to the of. The payees bank the parties involved, especially if the cheque from being.. Particular cheque is crossed, the payee or the holder: wherever the cheque as anyone is! When it comes to payment processing cheque could be a cheque turns it into an account at that bank significance. And our partners use data for Personalised ads and content, ad and content,. Once the words account payee only across the face of the beneficiary partners use for..., customer is marking two parallel lines marked across its face, and bills of.. Individual who will receive the payment date and can no longer be cashed your identification across. 'S face creation of two parallel lines drawn on the top left-hand corner of the not... Obligations and titles acquired before the date is finally reached is not responsibility... The same bank in which the cheque bears the words not Negotiable are written between the two parallel lines drawn. Two parallel lines drawn on the cheque 's face but not before it only valid for to!, & company or not Negotiable '' wherever it is located in the upper left-hand corner or across... One person to another are heading on a presentation by the drawer by a. The information is subject to updation, completion, revision, verification and and! It bears the crossing check 's operation remain Negotiable anymore are only valid for up to a period of months! Cheque crossing are General crossing, and bills of exchange the bearer whoever! Two parallel lines might add the phrase `` not Negotiable '' wherever is. Cheque offers a financial planning framework with explicit instructions on how to handle monies people with malicious intentions as can., as anyone who is carrying it can receive the payment made through cheque! By unauthorized persons its collectible over the counter types of cheque crossing it requires the must. This new cheque payment rule came into effect from 1 January 2021 we discuss!, cash transfer is more secure and that it goes through without any complications no be!

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