Some disadvantages are:
By usin cheques,it can be a cross cheques or open cheques
Yes. Cheques can be falsified but it is illegal. Only banks can issue Cheques to their customers. No one else is authorized or rather supposed to print Cheques. If anyone is found/caught printing/using bogus or fake Cheques they can be legally prosecuted and jailed for it.
The answer is a BIG NO. DO NOT issue cheques to anyone that does not contain a cheque value.
You use cheques as a a substitute for cash when you don't have enough cash in hand. You can use cheques at banks, shops etc. Cheques are negotiable instruments that can be treated at par with cash.
1. because of uncredited cheques 2.because of unpresented cheques
they are good
The paying bank is the bank on which the check is written.
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.
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.
they smell
By usin cheques,it can be a cross cheques or open cheques
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.
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.
what is a cheques
because cash is really hard to get these days
if you aren't paying attention, you don't know when it ran out
The biggest advantage of paying with a check is that you do not have to carry cash. One of the disadvantages is that you could potentially spend money that you do not have and be assessed fees for using more money than what is in your account.