cheque

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cheque

a BILL OF EXCHANGE drawn on a banker, payable on demand. A cheque operates as a mandate or authority to the drawee's bank to pay the party named as drawer and debit the account of its customer, the drawer. Cheques are essentially negotiable instruments and may be negotiated by indorsement. The Bills of Exchange Act 1882, however, provides that a cheque may be crossed. In this case the cheque should be presented for payment by a bank (rather than the person named as drawee). If accompanied by the words ‘not negotiable’, this has the effect that the cheque cannot be negotiated, and the words ‘account payee’ or ‘account payee only’ mean that the cheque cannot be passed on to another.
References in periodicals archive ?
The banking authority on Monday said that banks are now mandated to do some checks on the customer's credit history or background before releasing cheque books. This is to ensure that users of cheques won't default on any debt obligations or payments.
I'm not charged a monthly ledger fee: With this new account, I'm charged per transaction ndash ATM withdrawals, over-the-counter withdrawals, cash transfers to other banks, cheque books, mobile banking.
Mr Thomas was said to be unaware of the theft of the cheque book and the misuse of his money.
But Wealleans, of Collingwood Road, Newbigginby-the-Sea, Northumberland, continued committing fraud using the cheque book.
But Wealleans, of Collingwood Road, Newbiggin-by-the-Sea, continued using the cheque book.
Specially branded cheque books are provided for Najahi current account holders, besides priority queuing facility at branches for both teller and non-teller transactions.
SBI's move comes nearly three months after Reserve Bank of India issued guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as ATMs and cheque books.
Summary: This businessman's travails after being defrauded of Dh460m by trusted accountant and aides must be an eye-opener for all who leave their cheque books and finances with others and highlight banks' failure in protecting interests of customers.
In Denmark, it is free of charge to transfer money to any other bank account in any bank within the country, and I am not even too sure you have cheque books
The cheque book was used to buy pounds 8,000 of items including golf clubs, cosmetics and jewellery between April and May this year.
Huddersfield magistrates were told that although he denied stealing Louise Overton's cheque book, he wrote out four cheques during the time that he had it.