Pay order
This query is : Resolved
jyoti suresh potle
(Querist)
03 September 2012
what is difference between Pay order & normal cheque?
Plz. Explain it.
Plz. Explain it.
Aalok Chhaperwal
(Expert)
03 September 2012
The difference is that in case of a pay order, the bank is issuer and directing the payee bank to pay the amount mentioned on the pay order to the person/organisation so mentioned or his order, i.e. any other person/organisation, while in normal cheque the issuer is directing the payee bank to pay the amount mentioned on the pay order to the person/organisation so mentioned i.e. any other person/organisation.
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