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What is a bearer check?

Mindee Nelson

in Student Loans

1 answer

1 answer

Theresa Perry on April 15, 2019

A Bearer of a Cheque is a type of check that you will cash from a bank and pays in cash to the person holding the check. For example: If I owe you Rs. 10,000/ - and give a carrier a check of my bank account with the ICICI Bank, all you have to do is visit your nearest ICICI Bank branch, and then present the check for payment. The bank will ask for your identity proof to verify that you are the payee of the check and if they are satisfied, they will give you the money in cash immediately.

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