Write a short note on 'cheques'. -SST 10th

1 Answer

Answer :

A deposit in a Bank offers the customer the facility of issuing cheques. 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 made. The recipient of the cheque can deposit it in his own account in his bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is complete without any payment of cash. This is a safe mode of transferring money avoiding the possibility of any theft.

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