What are Cheque Books?
A cheque is a negotiable instrument used in financial transactions. The payer can forward the payee a cheque which is a negotiable instrument instructing a financial institution to pay a specific amount of money from a specific account held in the payer’s name with that institution. The payer and the payee can be natural persons or legal entities.
A cheque book is the collection cheques usually in 15, 20, 25, 50 numbers. Most of the banks gives you cheque books on opening a bank account. For joint accounts, cheques need to be signed by joint account holders to withdraw money.
How to obtain a new cheque book?
When we approach the end of our current cheque book the new cheque books are sometimes sent out automatically by the financial institution. We can also request for a new cheque book by filling up a cheque book request form. We can also cancel our existing book and arrange for a replacement, if we lose or damage our cheque book, in the same way.
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