Adult passports are valid for 10 years, while minors’ passports have a validity of 5 years. It’s important to know Indian passport renewal cost before starting asapplication process. In this guide, we break down the Indian passport renewal charges for 2025, the payment process, and important tips to help you avoid delays or extra charges.

Overview of Types of Cheques

The cheque remains non-negotiable, and the title of the transfer is not superior to the title of the transferor. • If the date is missing on the cheque leaf, including mandatory details such as the beneficiaries name, issuer’s sign and more, a cheque may be rejected. Yes, a cheque can be used instead of cash payment if the merchant or the shop accepts cheque payments. For specific reasons, the bank may also ask you to enter your account name and number at the back of the cheque leaf. To find the cheque number, you can look at the bottom left corner of your cheque leaf.

A Banker’s cheque, also known as a cashier’s cheque, is a type of cheque that is guaranteed by the issuing bank. It is considered as good as cash and can be used for large transactions or when the payee requires a guaranteed form of payment. The bank issues the cheque and deducts the amount from the account of the person who requested it. Because the bank guarantees the funds, the cheque is considered to be very secure and is often used for transactions such as real estate purchases or car sales. Banker’s cheques are considered to be safer than personal cheques and are less susceptible to fraud.

If you’ve ever held a cheque in your hand—whether to pay someone or deposit it into your account—you may have noticed a short number printed neatly in one corner. That’s the cheque number, and while it may seem like just another string of digits, it actually plays an important role in your banking transactions. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank. No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. You have the option to withdraw the said consent in the manner specified under these Terms of Use.

• In the digital age, where electronic transactions and online banking dominate, the humble cheque might seem like a relic from the past.
• The person or entity named on the cheque, also known as the payee, is the only one who has the right to receive the payment.
• If the drawer wishes cash for himself he can issue a cheque where in place of the Payee’s name he can write “SELF” and get encashment from the branch where he owns an account.
• A cheque is a paper instrument that orders the bank to transfer money from the sender’s account to another account.

I want to transfer funds to another account of mine. What is the process?

These are a safe alternative to carrying cash and can be misplaced if lost or stolen. You can request traveller’s cheques once you open a savings account online. In contrast to a crossed cheque, an open cheque is an uncrossed cheque that can be encashed at any bank, offering flexibility of payment. A special crossing includes the name of a specific bank written between the two parallel lines.

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There are several types of cheques that can be used for various purposes, including bearer cheque, order cheque, crossed cheque, open cheque, and traveller’s cheques and many more. When two parallel lines are drawn on the face of the cheque or when it is crossed with or or without additional words like “& CO.” or “Account Payee” or “Not Negotiable”, it is called a crossed cheque. It can only be credited to the payee’s account and cannot be encashed at the cash counter of a bank. When the word ‘’bearer’’ is canceled and the word ‘’order’’ is written in its place, the cheque is called Order Cheques.

Account Payee Cheques

In some countries, Banks may allow the depositing of cheques in other banks with the same clearing network. An open cheque is a type of cheque that can be cashed or deposited by anyone who has possession of it. Unlike crossed cheques, open cheques do not have any special markings, and do not indicate the account to which the funds should be credited.

Savings Account

An order cheque is payable types of cheque in india to a specified person whose name is on the cheque. A bearer cheque allows payment to the individual carrying the cheque without the need of any authorization. Ante-dated cheque refers to that cheque which has in it a date earlier than the date on which it is presented to the bank.

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It is important to choose the right type of cheque for the intended transaction to ensure that the payment is processed smoothly and securely. It is also important to check and ensure the cheque is filled out correctly and that sufficient funds are available in the account before writing a cheque to avoid bounced cheques. A crossed cheque can only be deposited into a bank account and cannot be cashed, enhancing its security. This feature prevents fraud by restricting the cheque’s negotiation, making it safer for the payee in financial transactions.

• A special crossing includes the name of a specific bank written between the two parallel lines.
• Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.
• They are generally more secure and less likely to bounce due to guaranteed company funds, making them ideal for larger transactions.
• A stale cheque is a cheque that has been written for a long time and has not been deposited or cashed.
• In a special crossing, the cheque bears an addition of the banker’s name, with or without whiles, rather than the words ‘not negotiable.

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Modes of Cheque Crossing (Section 123-131A)There are two types of crossing:

Digital currencies, like Bitcoin, are decentralized digital assets that can be used to make payments. Cheques come in various types, each with its specific features and uses. Read this post to explore the different types of cheques, including bearer, order, crossed, and post-dated cheques. By understanding the characteristics and purposes of each type, you can make informed decisions when choosing the appropriate cheque for your financial transactions.

Readers are advised to conduct their own due diligence and seek independent financial advice before making any investment decisions. Yes, you can cash a cheque at any bank without being an account holder. You can use such cheques for the withdrawal of money while traveling. It is equal to carrying cash but you can travel safely without carrying a huge amount.