Stale check is a check that is presented to be cashed or deposited at a bank six

months or more after the date it was written. The date when the check is presented to
be cashed or deposited in a bank account is known as the payment date.

Post-dated cheque is a cheque written by the drawer (payer) for a date in the future.
Whether a post-dated cheque may be cashed or deposited before the date written on
it depends on the country.

A paycheck, also spelled pay check or pay cheque, is traditionally a paper document (a cheque)
issued by an employer to pay an employee for services rendered.

A traveler's check is a medium of exchange utilized as an alternative to hard

currency. The product typically is used by people on vacation in foreign
countries. They offer a safe way to travel overseas without cash. The issuing
party, usually a bank, provides security against lost or stolen checks.

Bearer Cheque
A cheque which is payable to a person whosoever bears it is called bearer cheque. The
cheque has word Bearer but if you do not strike this word it becomes a bearer cheque. Means a
person holding the cheque can withdraw the amount (only if it is signed). Anyone can exchange
it for cash by producing it at the bank counter. It is not very safe. Such type of cheques are very
risky and in case misplaced can lead to loss of the amount mentioned on the cheque.
Self Cheque
SELF CHEQUE is when you write/issue a cheque for yourself, where you will act as both
DRAWER and PAYEE. For example, you need to draw money more than the ATM Limit. So you
would visit your bank and issue a cheque to draw the money physically. It is also used when
paying for DD or banker’s cheque.
Order Cheque:
A cheque which is payable to a particular person or his order is called an order cheque.

 This is a cheque whereby the printed word “Bearer” on the cheque is cancelled. The
cancellation of the word “Bearer” automatically makes the cheque an “order” cheque.
 An order cheque can be paid to the named payee across the bank’s account if so
presented.
 Identification must be insisted on by the bank when encashing the order cheque for the
presenter. The ID number and the named payee’s signature will be asked for on the
back of the cheque.
Crossed Cheque
A crossed cheque is one which has two short parallel lines marked across its face.

 A cheque which carries too parallel transverse lines across the face of the cheque with
or without the words “I and co”, is said to be crossed.
 Crossed cheques are of two types. By simply crossing a cheque or with the words ” &
Co”, by the payer, the payee can either deposit it in his/her account or endorse it in
favour of another person on the reverse. This practice is nowadays not accepted by the
banks.
 The advantage of crossing is that it reduces the danger of unauthorised persons getting
possession of a cheque and cashing it. A crossed cheque can only be cashed through a
bank of which the payee of the cheque is a customer.
 A cheque crossed generally will be paid to any bank through which it is presented.
 A cheque crossed specially will be paid only when it is presented for collection by the
bank named between the parallel lines. Such crossing affords a greater measure of
protection against loss.
Bankers Cheque:
The banker’s cheque is an instrument issued by the bank on behalf of customer containing an
order to pay a certain sum to a specified person within the city. The validity period of the
Banker’s cheque is 3 months, however it can be re-validated subject to some legal formalities.

 In Banker’s cheque the chances of dishonor is not possible because it is always prepaid.
It is always pre-printed with the words ‘not negotiable’ which means it cannot be further
negotiated.
 Banker’s Cheque or Payment Order is a cheque issued for making payments within the
same city.
 Banker’s cheque is valid up to 3 months from the date of issue.
 All banker’s cheque are pre-printed with “NOT NEGOTIABLE”.
 It can be cleared in any branch of the same city.

An account payee check is also paid only into theaccount of the person whose name
is written on thecheck and thus, no counter payment is done.

A cashier's check (or cashier's cheque) is a checkguaranteed by a bank, drawn on

the bank's own funds and signed by a cashier. Cashier's checks are treated as
guaranteed funds because the bank, rather than the purchaser, is responsible for
paying the amount.

A certified check or certified cheque is a form ofcheque for which the bank verifies
that sufficient funds exist in the account to cover the cheque, and so certifies, at the
time the cheque is written. Those funds are then set aside in the bank's internal
account until the cheque is cashed or returned by the payee.
dividend warrant is a cheque sent by a company to a shareholder in payment of
dividends. A dividend Warrant is an instrument by which a company pays dividend in
the form of cash back to its shareholders form the profits it has made out of its business
operations

A Manager's Check(MC) is a cheque issued by the bank, payable to a payee as

indicated by the person who buys the MC. It is often used in situations when the
beneficiary does not accept cash or personal cheques
A postal order, postal note or money order is a financial instrument usually intended
for sendingmoney through the mail. It is purchased at a post office and is payable at
another post office to the named recipient. A small fee for the service, known as
poundage, is paid by the purchaser.