Question

Credit instrument through which bank deposits are transferable

Answer 1

Credit instrument through which bank deposits are transferable is a Cheque. It is the most commonly used instrument of credit and is as equivalent to cash. The writer of the cheque, also known as the drawer, writes the cheque on the favour of the drawee, the person who holds the cheque.

Every bank has to accept the cheque, provided it is filled correctly, and the drawer holds the minimum balance in his account for the transaction to be completed. Cheques can be of various forms bearer cheques, crossed cheques, order cheques, blank cheques and post-dated cheques.

Other than cheques, the other mediums are promissory notes, bills of exchange, bank drafts, etc.

Answer 2

Answer:

cheque is the answer to your question