Tag Archive for 'cheques'

Bank Draft Vs Certified Cheques

BANK DRAFTS : A bank draft is an order to pay a sum of money on demand. It is addressed by a banker either to itself or to another banker and drawn on its head office or at a branch. It is issued and signed by two authorized signing officers of the bank; one being […]

Certified Cheques or Certified Check

A certified cheque or certified check is defined as a form of cheque for which the bank verifies that the sufficient fund exists in the account to cover the cheque, and so certifies at the time the cheque is written. Those funds are then set aside in the bank’s internal account until the cheque/check is […]

Features of new CTS – 2010 Compliant Cheques

Following are the features of new ‘CTS – 2010 Compliant’ Cheques Branch address with IFSC code printed top of the cheque. Date in dd/mm/yyyy format with boxes. There is a new symbol of rupees inserted near the numerical amount column. “Please Sign Above” is written on the cheque at the bottom right side. Wave like […]