In a bank statement of SBI, It is given in the descriptttion of a partitucalar transtion that "Cheque WDL--252578".
With the descriptttion, can we know whether the cheque issued was bearer or account payee.
Thanks in advance.
Satish Makam
Satish Makam (Asst. Manager - Accounts) (294 Points)
04 December 2012In a bank statement of SBI, It is given in the descriptttion of a partitucalar transtion that "Cheque WDL--252578".
With the descriptttion, can we know whether the cheque issued was bearer or account payee.
Thanks in advance.
Satish Makam
Durga Prasad
(Trainee)
(392 Points)
Replied 04 December 2012
Sir,
Generally, in the case of bearer cheques, persons name is stated in the statement or self is stated.
In your case, i think it is an account payee chq.
Ranganathan K
(Manager-Accounts & Audit)
(329 Points)
Replied 04 December 2012
Undoubtedly, its a bearer cheque. Because "WDL" represents cash withdrawal and it can be done only with bearer cheque.