Definition, Meaning & Synonyms
crossed-cheque
Noun
/krɔst ʧɛk/
Definition
A crossed-cheque is a type of cheque that has two parallel lines drawn across its face, typically indicating that it can only be deposited into a bank account and cannot be cashed directly at a bank counter.
Examples
- The business issued a crossed-cheque to pay for services rendered.
- When receiving payments, it’s safer to request a crossed-cheque instead of cash.
- He endorsed the crossed-cheque and handed it over to his bank for deposit.
Meaning
A crossed-cheque protects the payee by ensuring that the funds can only be transferred through a bank, minimizing the risk of theft or fraud.
Synonyms
- Banker’s cheque
- Payee cheque
- Account cheque
