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?"
A balance transfer check works in much the same way as a regular check. You write it out to anyone that you want, and the credit card company pays it. The amount that you write it
n. (chĕk) See Check.
The period of limitation is 6 months whereas banks now a days generally accept cheques of not more than 3 months old.
Insiders. often are blessed with owning a significant portion of a company's shares. This shared ownership is often in the form of direct share ownership or through. stock options
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