Bank cheque: Difference between revisions
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A cheque drawn by a bank on itself. The cheque is purchased by the payor and sent to the payee, who presents it to its bank for payment. That bank presents it to the payor’s bank for reimbursement. | A cheque drawn by a bank on itself. | ||
The cheque is purchased by the payor and sent to the payee, who presents it to its bank for payment. | |||
That bank presents it to the payor’s bank for reimbursement. | |||
== See also == | == See also == | ||
* [[Bank draft]] | * [[Bank draft]] | ||
* [[Cheque]] | * [[Cheque]] | ||
* [[Payments and payment systems]] | |||
[[Category:Cash_management]] | |||
[[Category:Financial_products_and_markets]] | |||
[[Category:Liquidity_management]] | |||
Latest revision as of 13:23, 27 June 2022
A cheque drawn by a bank on itself.
The cheque is purchased by the payor and sent to the payee, who presents it to its bank for payment.
That bank presents it to the payor’s bank for reimbursement.
