The following are the types of Cheques : –
1. Bearer Cheque : Bearer cheque is a cheque in which the words ‘or bearer’ is not mentioned. It can be encashed at the cash counter by the payee or the person who presents the cheque in the bank.
2. Order Cheque : Order Cheque is a cheque in which the words ‘ or bearer ‘ is canceled. It can be encashed at the cash counter by the payee only.
3. Open or Un – Crossed Cheque : When the cheque is not crossed, it is known as Open or Un – Crossed Cheque. Such a cheque can be used in both ways, i.e order or bearer.
4. Crossed Cheque : Crossed Cheque means drawing of two parallel lines on the cheque or account pay. It can not be encashed at the cash counter. I can only be credited to the payee’s account only.
5. Anti – Dated Cheque : When the cheque bears the dates earlier to the date , when it is presented in the bank, it is known as Anti – Dated Cheque.Such cheques are valid for 90 days only.
6. Post – Dated Cheque : When the cheque bears the date which is yet to come, ( future date ) then it is known as post – dated cheque.
7. Stale Cheque : When the cheque bears the date more than 90 days to the date when it is presented in the bank, it is known as Stale Cheque. Such cheques are not accepted by the banks.
8. Traveler’s Cheque : Traveler’s Cheque is a kind of money which the people carry when they are traveling abroad. It is available in fixed denominations and is available in US dollar, pound, Yen, Australian and Canadian dollars.