Question

In what ways have cheques made exchange of money more convenient?

SCERT Telangana Class 8 Social Science Ch 7 Money and Banking

Answer 1

cheque books are just some papers bind together unless the user puts his signature on it. So it is more convenient and safe. We can transfer large amount through that paper with a single sign and at low rate of risks. Practically its not at all safe to carry large amounts. But cheques make this possible 

Answer 2

Cheque deposited into a bank account enables one to transfer the money into another account. They made exchange of money more convenient. They becomes valid when the owner sign is present. The money can be transferred directly to our account if we redeem the cheque. Huge amounts can be transferred easily by it.