What is the Difference between crossed Cheque and Account payee Cheque ?
Cheque Cheque.
In case of a crossed cheque, the payee is free to make further endorsements.
For example , Ayesha receives a check from Rohan which has been crossed, Ayesha can get this payment in her account only and not across the counter. But in this case Ayesha is free to endorse the cheque in favor of Suresh and further Suresh is free to endorse the instrument in favor of Mukesh and so on…This means that crossing a cheque does not put restrictions on endorsements. In case the Cheque gets dishonored, Mukesh can sue Suresh and Suresh can sue Ayesha and Ayesha can sue Rohan
Account payee Cheque.
But, the A/C payee Cheque cannot be further endorsed. This means that if the Cheque in the above example which is in favor of Ayesha bears “A/C Payee”, payment can be collected in Ayesha’s account only. The paying bank makes sure that amount is being credited to the account of the payee only
If one line only not two line can i encash in the counter
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