Tuesday, February 12, 2019

The three kinds of bank cheques and their usages

Cheques are like the backbone of the banking industry and it is still a highly important financial instrument in the country. Many companies look to use blank cheque as it brings down the cost of printing the cheques. It also makes sense to anyone with multiple bank accounts. Regardless of the number of bank accounts, the following are the three main kinds of cheques one uses.

Open cheque: An open cheque is the kind of check that the holder uses to get the payment at a bank or deposit the money in his own account. It is also used to let the holder issue the cheque to someone else.

Crossed cheque: A crossed cheque is almost like open cheques and in this case as well, the payment is made over counter. It is safe option because the money gets credited to the account of the person to whom the cheque gets issued. Issuing the crossed cheque is rather easy. You just need to draw two parallel lines on the upper left corner of the leaf. You can also write not negotiable or account payee on the leaf.

Bearer cheque: In the bearer cheque, the payment is for someone who is acting on the behalf of the beneficiary or payee. The beneficiary or payee is the person in whose favor the cheque has been issued. You need to include the word bearer in the leaf for issuing this kind of cheque.

When you want to order blank cheque in Calgary, look no further than Print and Cheques Now as a reliable and authentic source. The company uses MICR cheque printing software and blank cheque paper to offer you 100% authentic cheques. They also have laser cheque printing facilities with MICR toner. All of their stock are compliant with CPA 006 standards.

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