A crossed cheque is payable to _________.

holder

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holder in due course

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banker of the customer

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none of the above.

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Solution

The correct option is C banker of the customer
When two parallel transverse lines, with or without any words, are drawn generally, on the left hand top corner of the cheque. A crossed cheque is a cheque that is payable only through a collecting banker and not directly at the counter of the bank. Collecting banker here means the bank where the customer is having his/her account.

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Similar questions

State True or False. Crossed cheque provides a level of security to the payer than a bearer cheque.

___cheque is a cheque which is payable to any person who presents it for payment at the bank counter.

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