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What is difference between cross check and bearer check?

Megan Page

in Student Loans

1 answer

1 answer

Melissa Norris on March 30, 2019

A Bearer cheque is that the bearer (the person to whom the cheque was issued) can present at the bank on which the cheque was given and receive the cash For ex: If I give a check in my ICICI Bank account in Chennai to you, you can take the check in any ICICI bank branch in Chennai and collect the money in cash that is written in it (if I have enough balance in my account) while a crossed check is one that cannot be cashed as said above. That can only be deposited in the beneficiaries ' (your) bank account

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