BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Of drawer to the payee
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Of endorser to endorsee
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Of drawer to drawee bank
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Of payee to drawer
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Detailed explanation-1: -Crossing means drawing of two parallel transverselines across the cheque with or without the words in between those lines. The crossing of cheque gives a direction to the drawee bank to not pay the mentioned amount at the counter, instead the payment should be done through a bank.
Detailed explanation-2: -A crossed cheque is a cheque that has been marked specifying an instruction on the way it is to be redeemed. A common instruction is for the cheque to be deposited directly to an account with a bank and not to be immediately cashed by the holder over the bank counter.
Detailed explanation-3: -Restrictive Crossing – It directs the collecting banker that he needs to credit the amount of cheque only to the account of the payee.
Detailed explanation-4: -What Is a Crossed Check? A crossed check is any check that is crossed with two parallel lines, either across the whole check or through the top left-hand corner of the check. This double-line notation signifies that the check may only be deposited directly into a bank account.
Detailed explanation-5: -The maker of a bill of exchange or cheque is called the “drawer"; the person thereby directed to pay is called the “drawee".