Importance of writing Account Payee on the cheques
March 26th, 2013 by CHEQUEMAN
Cheques on which Account Payee is written cannot be en-cashed by any person. It allows the money to be transferred from one account to another directly. This ensures that the money is transferred to the payee’s account only. If a cheque is Account payee, the payee cannot endorse it in favor of any other person.