Different
Names Of Cheque:
|
Name Of Cheque |
What does it
mean ?
|
Example |
|
Bearer Cheque |
When
the words “ or bearer” printed on the cheque is not cancelled, the cheque is
called a bearer cheque. A bearer cheque is made payable to the bearer i.e. It
is payable to the person who presents it to the bank for encashment. |
Rafiq
has a savings account in Bank Asia. He wants to make payment of Tk. 10,000.00
to Zaman. Rafiq gives a cheque to Zaman, writing his name on the cheque, but
not canceling the word ‘Bearer” Zaman delivers this cheque to his friend
Rahim without endorsement & Rahim withdraws cash from the bank. |
|
Order Cheque |
Order
Cheques are the cheques which are withdraw for the payee (the person whose
name is written on the cheque). Before making payment to that payee, check
the identity of the payee. |
Rafiq
has savings account in Bank Asia. He
wants to make payment of 10,000.00 to zaman. Rafiq gives a cheque to Zaman
writing his name on the cheque but canceling the “Bearer” Zaman will present
the cheque to Bank Asia and he will get payment. |