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Some disadvantages are:

  • You may lose the cheque or it might be stolen
  • The cheque issuer may not have sufficient balance in his acc to honor the cheque
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Q: What are the disadvantages of paying cheques?
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What are the advantages and disadvantages of e-cheques?

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Who is a paying banker in relation to cheques?

The paying bank is the bank on which the check is written.


Why do you need a travel check?

Travelers cheques are a safe alternative to carrying cash. By paying a small premium, you are protected if your cheques are lost or stolen. The bank that issued the cheques guarantee the merchant will get paid, even if they are fraudulently cashed, and the bank will reimburse you if they are lost or stolen.


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That depends on your bank and the type of account you have opened with the bank. There is no one answer that can be given - for instance there is no restriction on how many cheques I can write (or cash) for free with my bank.


What are the disadvantages of paying with a credit card?

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What methods can be used to deposit cash and cheques to a business bank account?

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What is a collecting banker?

A collecting banker is one who undertakes to collect the amount of a cheques & bills for his customer from the paying banker. A banker is under no legal obligation to collect cheques drawn upon other banks for a customer. But this function is performed by every modern bank.


What the advantages and disadvantages of standing instructions?

Benefits of paying by Standing Order:No waiting in queues.A safe and speedy way to pay regular bills.No writing or posting of cheques or postal orders.You control when and how much you pay.No need to carry large amounts of cash.The peace of mind that bills have been paid promptly.


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Advantages and disadvantages of paying by check?

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