Who is a payee in case of cheque?

Who is a payee in case of cheque?
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Who is a payee in case of cheque?
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With reference to a cheque which of the following is the „drawee bank‟ ? A. The bank that collects the cheque B. The payee‘s bank C. The endorser‘s bank D. The bank upon which the cheque is drawn

Description : With reference to a cheque which of the following is the „drawee bank‟ ? A. The bank that collects the cheque B. The payee‘s bank C. The endorser‘s bank D. The bank upon which the cheque is drawn

Last Answer : D. The bank upon which the cheque is drawn Explanation: Drawee is a legal and banking term used to describe the party that has been directed by the depositor to pay a certain sum of money to the person presenting the check or draft. A typical example is if you are cashing a paycheck.

The safest form of Crossed Cheque is _____ A. Double Crossing B. General Crossing C. Special Crossing D. Account payee crossing E. None of the Above

Description : The safest form of Crossed Cheque is _____ A. Double Crossing B. General Crossing C. Special Crossing D. Account payee crossing E. None of the Above

Last Answer : D. Account payee crossing Explanation: In Account payee crossing the amount will not be paid to anybody over the counter. It will be credited to the account of the payee only. Thus account payee crossing ensures safe transfer of funds.

.A person that money or a cheque is paid to a) payer b) paye c) remit d) payee

Description : .A person that money or a cheque is paid to a) payer b) paye c) remit d) payee

Last Answer : d) payee

In the case of an inland MO, in which it is learnt that the payee has left India and his revised address, is known to the PO a) The MO cannot be redirected but is should be returned to the remitter. b) The MO can be redirected to payee in another foreign country as per the information available c) The Mo can be redirected, but he difference in the commission of the redirected MO to a foreign country should be deducted in the original value of MO d) None of these

Description : In the case of an inland MO, in which it is learnt that the payee has left India and his revised address, is known to the PO a) The MO cannot be redirected but is should be returned to the ... the redirected MO to a foreign country should be deducted in the original value of MO d) None of these

Last Answer : c) The Mo can be redirected, but he difference in the commission of the redirected MO to a foreign country should be deducted in the original value of MO

The date of credit of cheque in case of RD/PPF account will be the date of a) Presentation of cheque b) Receipt of the cheque from postmaster c) Receipt of the cheque from HO d) The date clearing

Description : The date of credit of cheque in case of RD/PPF account will be the date of a) Presentation of cheque b) Receipt of the cheque from postmaster c) Receipt of the cheque from HO d) The date clearing

Last Answer : d) The date clearing

Presentment of an acceptance is required in case of A. Every Bill of exchange B. Every Bill of exchange payable after sight C. Every promissory note D. Every cheque

Description : Presentment of an acceptance is required in case of A. Every Bill of exchange B. Every Bill of exchange payable after sight C. Every promissory note D. Every cheque

Last Answer : C. Every promissory note

Exemplary damages are not awarded in such case (a) Breach of promise to marry (b) Wrongful dishonour & customers cheque by banker (c) Breach of any business contract (d) None of the above

Description : Exemplary damages are not awarded in such case (a) Breach of promise to marry (b) Wrongful dishonour & customers cheque by banker (c) Breach of any business contract (d) None of the above

Last Answer : (c) Breach of any business contract

Once a check has cleared, can the "payee" put a stop on it?

Description : Once a check has cleared, can the "payee" put a stop on it?

Last Answer : Hm, my advice would be to actually deposit it to the teller. Once the check is signed and dated and you worked those hours the company cannot legally put a check stop.

Single, childless people, who is the beneficiary/POD payee on your bank account?

Description : Single, childless people, who is the beneficiary/POD payee on your bank account?

Last Answer : Mine are my parents too.

If someone receives ssi Disabillity, what is the purpose of having a payee?

Description : If someone receives ssi Disabillity, what is the purpose of having a payee?

Last Answer : ”…but im afraid he will spend his money on weed, liquor and stupid stuff and end up on the street.” If I had to take a guess, I’d say that’s the answer to your question.

What is the Loss payee address for Honda finance?

Description : What is the Loss payee address for Honda finance?

Last Answer : American Honda Finance is a lien holder that provides financingto approved customers. The loss payee address for American Honda isClient Services PO Box 65021 Hunt Valley MD 21065.

im trying to be my own payee and need help getting there?

Description : im trying to be my own payee and need help getting there?

Last Answer : go to a doctor and have them write a statement that explains that you can be your own payee. You might also need documentation showing that you can handle finances w/o problems

Bank deposits that can be withdrawn without notice are called - (1) account payee deposits (2) fixed deposits (3) variable deposits (4) demand deposits

Description : Bank deposits that can be withdrawn without notice are called - (1) account payee deposits (2) fixed deposits (3) variable deposits (4) demand deposits

Last Answer : (4) demand deposits Explanation: Demand deposits are funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution. Demand ... of account which cannot be accessed for a predetermined period (typically the loan's term).

Alterations, if any, on cheques are required to be authenticated by the signature of _______ A. Payee B. Depositor C. Drawer D. Endorse E. All of the above

Description : Alterations, if any, on cheques are required to be authenticated by the signature of _______ A. Payee B. Depositor C. Drawer D. Endorse E. All of the above

Last Answer : C. Drawer Explanation: Alterations, if any, on cheques are required to be authenticated by the drawer‘s signature against each such alteration.

MO become void when a) The MO not paid to payee or remitterb) The MO not paid to payee or remitter at the end of the month following the month of its issuec) The MO not paid to payee or remitter at the end of the yeard) None of these

Description : MO become void when a) The MO not paid to payee or remitter b) The MO not paid to payee or remitter at the end of the month following the month of its issue c) The MO not paid to payee or remitter at the end of the year d) None of these

Last Answer : b) The MO not paid to payee or remitter at the end of the month following the month of its issue

Witness is not necessary for delivery of a) Regd article addressed to an illiterate addressee b) An insured article received for delivery to a minor c) MO for payment an illiterate payee d) A TMO for payment to a payee without fingers

Description : Witness is not necessary for delivery of a) Regd article addressed to an illiterate addressee b) An insured article received for delivery to a minor c) MO for payment an illiterate payee d) A TMO for payment to a payee without fingers

Last Answer : b) An insured article received for delivery to a minor

. If a money order cannot be paid owing to the death of the payee a) It should be paid to his relatives in the address b) It should be treated as an unclaimed order c) It should be kept in deposit d) None of these

Description : . If a money order cannot be paid owing to the death of the payee a) It should be paid to his relatives in the address b) It should be treated as an unclaimed order c) It should be kept in deposit d) None of these

Last Answer : b) It should be treated as an unclaimed order

Payment of crossed Indian Postal order will be made a) By cash b) Direct to the payee c) Through PO Saving bank or any of the bank d) All the above

Description : Payment of crossed Indian Postal order will be made a) By cash b) Direct to the payee c) Through PO Saving bank or any of the bank d) All the above

Last Answer : c) Through PO Saving bank or any of the bank

An IPO should not be paid to the payee it a) The signature of the issuing postmaster is wanting b) The round MO/special stamp of issuing office is not impressed. c) Both the signature of issuing Postmaster/ Round impression wanting d) All the above

Description : An IPO should not be paid to the payee it a) The signature of the issuing postmaster is wanting b) The round MO/special stamp of issuing office is not impressed. c) Both the signature of issuing Postmaster/ Round impression wanting d) All the above

Last Answer : c) Both the signature of issuing Postmaster/ Round impression wanting

The cases in which defective IPOs be paid without reference to higher authority a) The IPO was first erroneously receipted by a person other than the payee entire cancelled and properly receipted by the payee. b) Receipting signature of the payee scored out by mistake or for defective one and properly receipted. c) Where the IPO was erroneously receipted the purchaser, it subsequently cancelled and receipted by the payee. d) All the above

Description : The cases in which defective IPOs be paid without reference to higher authority a) The IPO was first erroneously receipted by a person other than the payee entire cancelled and properly receipted by ... receipted the purchaser, it subsequently cancelled and receipted by the payee. d) All the above

Last Answer : d) All the above

Memo of admission of payment is obtained a) When duplicate money order are issued b) When a money order is lost before payment c) When a money order is lost after payment d) When money order was paid to a person other than the payee

Description : Memo of admission of payment is obtained a) When duplicate money order are issued b) When a money order is lost before payment c) When a money order is lost after payment d) When money order was paid to a person other than the payee

Last Answer : c) When a money order is lost after payment

Payment of a MO addressed to a place not served daily by postman will be a) Made to the messenger as authorized by the payee in a letter given to the Postmaster of office of payment b) Paid only to the payee c) Kept in deposit for 7 days an returned for repayment to the remitter d) All the above

Description : Payment of a MO addressed to a place not served daily by postman will be a) Made to the messenger as authorized by the payee in a letter given to the Postmaster of office of payment b) Paid only to the payee c) Kept in deposit for 7 days an returned for repayment to the remitter d) All the above

Last Answer : a) Made to the messenger as authorized by the payee in a letter given to the Postmaster of office of payment

If a remitter of money order wants to stop its payment to the payee a) Value of MO and commission paid will be refunded to himb) Value of Mo will be refundedc) No refundd) None of these

Description : If a remitter of money order wants to stop its payment to the payee a) Value of MO and commission paid will be refunded to him b) Value of Mo will be refunded c) No refund d) None of these

Last Answer : b) Value of Mo will be refunded

If a payee of the VPMO (sender of the VP article) for Rs 400/- is deceased, then the VPMO should be a) Returned to the addressee of the VP article b) paid to the claimant in the presence of alliterate witness c) Returned to Audit office as unpaid d) Paid to the claimant after obtaining indemnity bond with one surety

Description : If a payee of the VPMO (sender of the VP article) for Rs 400/- is deceased, then the VPMO should be a) Returned to the addressee of the VP article b) paid to the claimant in the ... witness c) Returned to Audit office as unpaid d) Paid to the claimant after obtaining indemnity bond with one surety

Last Answer : d) Paid to the claimant after obtaining indemnity bond with one surety

If the remitter wants to change the name of payee, after booking of MO a) No fee is to be collected from eh remitter for the first alteration b) Second commission equal to first c) Half of the first commission d) Postage stamp for Rs 10 to be affixed on the request form

Description : If the remitter wants to change the name of payee, after booking of MO a) No fee is to be collected from eh remitter for the first alteration b) Second commission equal to first c) Half of the first commission d) Postage stamp for Rs 10 to be affixed on the request form

Last Answer : b) Second commission equal to first

If a MO is lost after payment a) Duplicate MO will be prepared by office of issue b) Duplicate mo will be prepared by office of payment c) Certificate of payment will be prepared by office of payment d) Memo of admission of payment will be prepared by office of issue and on receipt, the office of payment will get the signature of the payee in the memo and forward it to the Audit Office.

Description : If a MO is lost after payment a) Duplicate MO will be prepared by office of issue b) Duplicate mo will be prepared by office of payment c) Certificate of payment will be prepared by office of payment ... of payment will get the signature of the payee in the memo and forward it to the Audit Office.

Last Answer : d) Memo of admission of payment will be prepared by office of issue and on receipt, the office of payment will get the signature of the payee in the memo and forward it to the Audit Office.

If the payee refuses to take MO payment, MO should be a) Kept in deposit for 7 days b) Returned to RLO c) Returned to remitter at once d) Returned to the remitter after 10 days

Description : If the payee refuses to take MO payment, MO should be a) Kept in deposit for 7 days b) Returned to RLO c) Returned to remitter at once d) Returned to the remitter after 10 days

Last Answer : c) Returned to remitter at once

If the remitter presents an application requesting postmaster of office of issue to change the name of payee, the fee to be collected is a) Second commission in cash b) Free c) Second commission in shape of postage stamp affixed on the application d) None of these

Description : If the remitter presents an application requesting postmaster of office of issue to change the name of payee, the fee to be collected is a) Second commission in cash b) Free c) Second commission in shape of postage stamp affixed on the application d) None of these

Last Answer : c) Second commission in shape of postage stamp affixed on the application

Void MO can be paid to the remitter or payee if application is made before expiry of a) 6 Month from issue of original MO b) 12 Month from issue of original MO c) Month from issue of original MO d) None of these

Description : Void MO can be paid to the remitter or payee if application is made before expiry of a) 6 Month from issue of original MO b) 12 Month from issue of original MO c) Month from issue of original MO d) None of these

Last Answer : b) 12 Month from issue of original MO

Money order will be paid to a. Parents of the payee, if the payee not present at the address. b. Any person or family member residing at the address, if payee not present c. Payee of the MO at the address d. Wife/husband of the payee

Description : Money order will be paid to a. Parents of the payee, if the payee not present at the address. b. Any person or family member residing at the address, if payee not present c. Payee of the MO at the address d. Wife/husband of the payee

Last Answer : c. Payee of the MO at the address

Money order neither paid to payee nor remitter called as a) Dead money order b) Void money order c) Cancelled money order d) None of these

Description : Money order neither paid to payee nor remitter called as a) Dead money order b) Void money order c) Cancelled money order d) None of these

Last Answer : b) Void money order

A minor cannot be a______________ of the instrument A. Drawer B. Drawee C. Payee D. Acceptor

Description : A minor cannot be a______________ of the instrument A. Drawer B. Drawee C. Payee D. Acceptor

Last Answer : C. Payee

If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Description : If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Last Answer : Answer: B

Bank deposits that can be withdrawn without notice are called (1) account payee deposits (2) fixed deposits (3) variable deposits (4) demand deposits

Description : Bank deposits that can be withdrawn without notice are called (1) account payee deposits (2) fixed deposits (3) variable deposits (4) demand deposits

Last Answer : demand deposits

Can you write yourself a cheque?

Description : Can you write yourself a cheque?

Last Answer : I don’t think it would clear because it would look like you were just trying to bounce it.

2 year old cheque still good?

Description : 2 year old cheque still good?

Last Answer : Nope. They expire after 6 months.

If a bank account is only overdrawn by 85c, can they still 'bounce' a customer's cheque?

Description : If a bank account is only overdrawn by 85c, can they still 'bounce' a customer's cheque?

Last Answer : It doesn’t matter if it’s 85 cents or 85 dollars. To a bank, overdrawn is overdrawn.

Which method of paying bills makes you feel more secure, mailing away a cheque or paying online with a credit card?

Description : Which method of paying bills makes you feel more secure, mailing away a cheque or paying online with a credit card?

Last Answer : I use one credit card for everything. Then I pay the monthly bill online. I have never had a moment’s problem.

On a job i just quit i think there was an extra 100 dollars on my cheque,what do i do?

Description : On a job i just quit i think there was an extra 100 dollars on my cheque,what do i do?

Last Answer : answer:this is one of those gray area kind of questions. some follow the finders keepers ideology while others would question ethics. Are you positive that the extra 100 dollar wasn't some sort of ... what you think is right or wrong. Hope that helps you make whatever decision is right for you.

What is a cheque? How does it replace currency? -SST 10th

Description : What is a cheque? How does it replace currency? -SST 10th

Last Answer : A cheque is a paper instructing the bank to pay a specific amount from the person's account to the person in whose name the cheque has been drawn. . The facility of cheque against demand ... bank account to another in a couple of days. The transaction is complete without any payment of cash.

How is the facility of cheque useful? -SST 10th

Description : How is the facility of cheque useful? -SST 10th

Last Answer : A cheque is a paper instructing the bank to pay a specific amount from a person's account to the person in whose name the cheque has been issued. The payer,who has an account with ... facility of cheques against demand deposits makes it possible to directly settle payments without the use of cash.

What is a Cheque ? -SST 10th

Description : What is a Cheque ? -SST 10th

Last Answer : A Cheque is a paper instruction to the bank to pay a specific amount from the person’s account to the person in whose name the cheque has been issued.

Which is called a ‘banker’s cheque’ ? -General Knowledge

Description : Which is called a ‘banker’s cheque’ ? -General Knowledge

Last Answer : The answer is 'Demand draft'

Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Description : Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Last Answer : The answer is 'Mahatma Gandhi'

A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Description : A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Last Answer : answer:

A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Description : A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Last Answer : answer:

Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Description : Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Last Answer : answer:

Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Description : Who com merited that Cripps Mission was a postdated cheque on a crashing bank? -General Knowledge

Last Answer : answer:

Which is called a ‘banker’s cheque’ ? -General Knowledge

Description : Which is called a ‘banker’s cheque’ ? -General Knowledge

Last Answer : answer:

Who is the author of the book "Cheque book" ? -General Knowledge

Description : Who is the author of the book "Cheque book" ? -General Knowledge

Last Answer : Vasdev Mohi is the author