3 Replies
praveen kumar kalluri
( student)
(1032 Points)
Replied 22 September 2010
The pay order is a cheque issued by the bank in favour of a beneficiary. It is also known as the Cashiers Cheque or the Managers cheque. It is issued only against cash by cheque which is debited immediately. It is payable withing the city.
praveen kumar kalluri
( student)
(1032 Points)
Replied 22 September 2010
Banker cheque is nothing but pay order issued by the bank where as cheque is an instrument issued by the company, firm or an individual of any Bank...
SHWETA GERA
(Financial Services)
(938 Points)
Replied 22 September 2010
Pay order provides security of payment to the payee as it is issued by Banker after debiting the amount from customer's a/c
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