A Crossed Cheque is Safer Than H5N1 Bearer Cheque
When a banking firm gibe is crossed, the holder thereof cannot encash it at the counter of the bank. Encashment at the counter of the banking firm is possible entirely inwards the illustration of an opened upwardly cheque, i.e. a bearer banking firm gibe or an uncrossed cheque.
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The holder of a crossed banking firm gibe has to introduce the same to his banking firm for collecting its total from the drawee bank. When the total of the banking firm gibe is collected, the line of piece of occupation concern human relationship of the holder is credited. Thus, it is possible to delineate the political party receiving the total of the cheque. This is non in addition to so inwards the illustration of a bearer banking firm gibe because a bearer banking firm gibe tin endure encashed past times anybody who presents it at the counter of the bank. Crossing, therefore, gives protection against payment of a banking firm gibe to incorrect parties.
A holder of a crossed banking firm gibe should either convey a banking firm line of piece of occupation concern human relationship inwards his ain cite or should teach the banking firm gibe encashed through a relative or friend having an line of piece of occupation concern human relationship inwards or in addition to so bank, past times endorsing it inwards his favour. In either illustration the payee tin endure traced.
Thus, a crossed banking firm gibe is ever safer than a bearer cheque.
