Hey pal,
I had never heard about the crossing of Cheques before. A banker told me that these cheques are different from banker’s cheques. He said the payable amount mentioned on these cheques is directly deposited into the account of the cheque holder. If you wish to write a cheque like this, you need to know how to cross a cheque.
Click here to check out NoBroker Online Bill Payment services to handle utility bills in one go. If you are exploring home loan options and looking for best deals, check out NoBroker Home Loan services How to cross a cheque in India?According to Section 123 of the Negotiable Instruments Act, 1881 about the Crossing of Cheques, the instruction stated above defines that the amount specified in the cheque will be deposited and will not be immediately delivered as cash to the holder( receiver) over the bank counter.
According to the rules and regulations are given in section 123 of the Negotiable Instruments Act, 1881. You need to draw two parallel transverse lines and write the words “A/C Payee Only”, 'and company' or “Non-Negotiable”. You need to cancel the section “or bearer” on the cheque. These transverse lines can be drawn vertically across the cheque or on the top left-hand corner.
Without the words “A/C Payee Only” the cheque can be deposited into anybody else’s bank account. The format or statement of cross-cheques usually differs from one country to another.
If you have any more questions on how to cross a cheque. You can always google pictures of the cheque and get a reference.
Read more :
What is general crossing
what is ac payee cheque
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How to cross a cheque ?
Leena
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2 Year
2022-09-11T18:17:31+00:00 2022-09-11T18:17:33+00:00Comment
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