\r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n Generally, you can withdraw or transfer fund to someone else\u2019s account. When you want to pay someone, you need to write the name of the bearer and the amount. Then you as the account holder will sign on the cheque. The account holder has to sign the other side of the cheque. After this, the bearer to whom you have issued the cheque will go to the bank. The bank authority will verify the signature and the account details and will process the request to payment to the respective person.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n Bearer cheque is a kind of cheque where the name of the bearer or to whom it is addressed to is written. And obviously, the amount is also written. It is not crossed nor is the account number of the payee is mentioned. This type of bearer cheque can be encashed by any person irrespective of whom it is addressed. The cheque can also be encashed by the person whoever presents it to the bank. In reality, this kind of bearer cheque carries risk with it.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n If the cheque is lost or stolen by any way along with the signature put in the cheque and the cheque is presented to the bank by any other person irrespective of payee name mentioned in the cheque, the bank will make payment to any person. If you write \u201cSelf\u201d in the Payee column then it is called self-cheque. You can withdraw the money where you have a bank account.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n Unlike the bearer cheque, when the \u201cor Bearer\u201d appearing on the cheque is cancelled and you write the word \u201cor order\u201d then it is converted into order cheque. The amount specified in the order cheque can be encashed or transferred. The amount specified in the cheque to the self bank account or someone else\u2019s by signing on the back side of the cheque.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n When the two lines are drawn on the top right corner of the cheque, the cheque is called crossed cheque. The amount mentioned in the cheque is only being transferred to the bank account of the payee\u2019s name in the cheque. This cheque is best, because no cash payment from the bank counter is permissible in the case of crossed cheque.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n When the cheque is not crossed on the top right corner of the cheque the cheque is called open cheque. Unlike the crossed cheque, this cheqkue allows cash withdrawal to the payee as mentioned in the cheque from the bank counter.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n When the date mentioned in the date column along with the payee name of order or bearer cheque is earlier than the current date then it is called antedated cheque. Antedated cheque is valid up to 3 months from the date mentioned in the date column of the cheque.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n When the date mentioned in the date column along with the payee name of order or bearer cheque is yet to come than the current date, then it is called postdated cheque. This type of cheque is considered for a security purposes.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n Suppose you have mentioned a payee and the amount thereof along with date. But the cheque is neither enchased from the bank nor the amount of money is transferred till the three month. This type of cheque is called Stale Cheque.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n Suppose you have mentioned a payee and the amount thereof along with date. But the cheque is found to be damaged by oil, water, and fire or torn into two or more pieces then it is called mutilated cheque. Usually, the bank refuses to pay or transfer the amount to the payee without getting confirmation of the drawer.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n Just like crossed cheque when \u201cAccount Payee\u201d is written on the top right corner of the cheque it is called account payee cheque. The 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 permissible from the cash counter of bank branch.<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n \r\n\r\n<\/span><\/p>\r\n When the cheque is crossed on the centre of the cheque and \u201cCancelled\u201d is written, the cheque is called Cancelled cheque. This cancelled cheque has no monetary value, because no amount or payee name is mentioned here. It is usually used for the purposes of verifying the bank account or for KYC i.e. Know Your Customer by various authorities or organizations.<\/span><\/p>\r\nWhat is Cheques?<\/strong><\/span><\/h6>\r\n
Top 11 types of cheques in India <\/strong><\/span><\/h6>\r\n
Bearer Cheque<\/strong><\/span><\/h6>\r\n
![\"Types](\"http:\/\/capitalante.com\/wp-content\/uploads\/2019\/03\/Bearer-Cheque.jpg\")
<\/a><\/span><\/figure>\r\n<\/div>\r\nOrder cheque<\/strong><\/span><\/h6>\r\n
<\/a><\/span><\/figure>\r\n<\/div>\r\nCrossed Cheque<\/strong><\/span><\/h6>\r\n
<\/a><\/span><\/figure>\r\n<\/div>\r\nUncrossed or Open cheque<\/strong><\/span><\/h6>\r\n
Antedated Cheque<\/strong><\/span><\/h6>\r\n
Post dated cheque<\/strong><\/span><\/h6>\r\n
Stale Cheque<\/strong><\/span><\/h6>\r\n
Mutilated Cheque<\/strong><\/span><\/h6>\r\n
\r\n
Account Payee Cheque<\/strong><\/span><\/h6>\r\n
<\/a><\/span><\/figure>\r\n<\/div>\r\nCancelled Cheque<\/strong><\/span><\/h6>\r\n