A cheque is a document that orders a payment of money from a bank account.
It is typically used by individuals or businesses to make payments to other individuals or businesses. A cheque is typically written by the payer and includes the payee's name, the amount of money to be paid, and the date on which the cheque is written. The cheque is then presented to the bank for payment. Once the bank has verified the information on the cheque, it will either pay the amount or return the cheque to the payer if there are insufficient funds in the account.
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Answer:
A paper instructing the bank to pay a specific amount from the persons account to the person in whose name the cheque has been made.
Verified answer
Answer:
A cheque is a document that orders a payment of money from a bank account.
It is typically used by individuals or businesses to make payments to other individuals or businesses. A cheque is typically written by the payer and includes the payee's name, the amount of money to be paid, and the date on which the cheque is written. The cheque is then presented to the bank for payment. Once the bank has verified the information on the cheque, it will either pay the amount or return the cheque to the payer if there are insufficient funds in the account.