What is the Difference between A/C Payee Chq. and Bearer
Chq. ?
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Answer Posted / sunil kumr a h
A/C payee Chq - Only the name of the person mentioned in the cheque(Payee field) should collect the money into his account.(Order Cheque).
Bearer Chq - Irrespective of name of the person mentioned in the cheque(Payee field) i.e one who hold the cheque can collect the money into his account.
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