What is an open cheque?


An open cheque is one which can be paid at the counter of a bank as soon as it is issued to the drawee bank. The only requirement by the bank is a proof of identity from the person who is cashing the cheque in order to ascertain that they are paying the correct person to whom the cheque was given.
Q&A Related to "What is an open cheque?"
It would be polite to remind the person/business to whom the cheque was sent/given that it has not yet been presented. A cheque has a lifespan of 6 months (generally) and after that
The difference is just the spelling. they both mean the same.
Crossing a cheque means putting two parallel lines on the left hand top corner of the cheque. This means that, the cheque is a Account Payee cheque which means it can only be deposited
A cheque is said be stale when it has not been presented by the payee within the stipulated time set aside by the financial institution regulatary body . The period are usually 6-
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