if you want to insure that your money secured if cheque sent are wasted in the post you should
Answers
Answer:
cancle the cheque by no. posted on them by informing to the bank
Answer:
Cross your Cheques ‘Account Payee only, Not Negotiable.’
Explanation:
Here it is a complete questions:
If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should
a. Always pay by cash
b. Cross your Cheques ‘Account Payee only, Not Negotiable.’
c. Always get the money in person
d. Not use the postal service in future
Explanation: Cheque is a document in writing drawn upon a specified bank with which the account is held and is payable on demand.
The bank issues a booklet containing cheques forms (known as Cheque book) to its account holders.
The name of payee (i.e., the party to whom payment is to be made) is written after the words 'Pay To' The amount is written, both in words and figure. A cheque must be dated and signed by the drawer.
The cheque details are entered on the counterfoil which remain with the account holder and is the source voucher for recording the transaction in the books of account.
If Account holder want to secure its money and do not want to wasted its cheque, Cheque should be account payee.
Account holder must assure to write account payee at the top of corner of left side cheque and putting two parallel line between the word account payee. By writing account payee, cheque only credited to particular bank account holder which name is written on the cheque. Account payee cheque would not transfer or negotiate to other.
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