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What is Crossed Cheque ?

By: Raj Kumar,      Update:17 Jan 2013

Open cheques are full of risk.  There is always a danger to issue open cheques. This risk can be reduced by issuing ‘Crossed cheque'.  Crossed cheque cannot be encashed over the counter at the bank. It can only be credited to the bank account of the payee.

 

A cheque can be crossed by drawing two transverse parallel lines across the cheque, with or without words such as ‘& Co’ or 'Not Negotiable'. These lines are usually drawn on the upper left hand corner of the cheque.
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