Legal Question in Banking Law in India

11.10.2016

Dear Sir / Madam,

A bearer cheque is of two types - one with the word "SELF" written as the payee which implies that the Account holder or his / her bearer is withdrawing cash from the Bank's counter. A Self bearer cheque cannot be deposited in any other account since the Payee's name is not mentioned on the cheque. The other type of bearer cheque is where the name of the Payee is mentioned on the cheque. In such instances the person whose name is written on the cheque can directly deposit it in his account.

Regards.