Why is a crossed cheque safe?
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When a particular bank's name is written in between the two parallel lines the cheque is said to be speciallycrossed.The effect of special crossingis that the bank makes payment only to the banker whose name is written in the crossing. Specially crossed cheques are more safe than a generally crossed cheques
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Uses of crossed cheques.
Explanation:
- Understanding the working of the crossed cheque, the crossing is done with the use of rubber-stamped or the hand.
- Adding with more security with the crossed cheque which can be paid through a bank in which it matches the payee's account.
- Crossed cheque does not allow to withdraw any of the amounts directly with the crossed cheque.
- It is much safer as in this case only the payee gets the money. Therefore, the crossed cheque is considered as safe.
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