Economy, asked by prashant27, 1 year ago

what is cheque? and how to use it?

Answers

Answered by p8verma
2
A cheque is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, the drawer, has a transaction banking account (often called a current, cheque, chequing or checking account) where their money is held. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated.
METHODS OF USING CHEQUE  >>>>>
Visit the bank that issued the cheque.
You can find the name of the bank by looking at the front of the cheque.
Use a retailer to cash the cheque.
Use a prepaid card. ...
Use a cheque-cashing service.
Endorse the cheque to a trusted proxy.
Answered by Bhartisharma
2
cheque is a piece of paper but it has repatriation of itself it is used as a key which is used to withdraw and used to transfer money from one account to another in banks

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