What is Bearer Cheque and How to Write: Meaning, Withdrawal Rules, and Limit
A bearer cheque entitles the person who submits it to the bank to withdraw the money. While visiting a bank, we often notice customers at various counters, out of which some of them are dealing with cheques. But do we ever pause and wonder what type of cheque they are filling or submitting? Mostly we don’t! Either we are in a rush for getting our work done at the bank counter or we have no time or interest to know. The banking industry, to which we are connected directly or indirectly is a huge sphere and it is updated with information and services at a rapid speed. Right from bank accounts, types of cheques, fixed deposits, investments to types of loans, digital gold and more, you can sure to never miss out on up-to-date knowledge available at digital medias or at the bank if visited in person. A common man often deals with just the basic activities at the bank, the actions may involve opening a bank account, handling a bearer cheque, depositing cash or such related banking tasks which are simple to understand and even to execute. Speaking about cheques, there are many types of cheques which include- post-dated, self, order, crossed, traveller's, bankers and so on. Each of these have its distinct characteristics but let’s begin by talking about just one. We have often over-heard discussions among colleagues and friends of what is bearer cheque meaning, though most of us have dealt with this at least once in our life.