Can a crossed cheque be cashed?

A crossed check is any check that is crossed with two parallel lines, either across the whole check or through the top left-hand corner of the check. Therefore, such checks cannot be immediately cashed by a bank or by any other credit institution.

Where can I cash a crossed cheque?

“Striking two parallel lines on the top left corner of the cheque is called Crossing of Cheques. This symbol simply means that cheques can only be deposited directly into a bank account and can’t be immediately encashed over the counter in any branch of a bank”.

Can a crossed cheque be opened?

A cheque is a negotiable instrument. It can either be open or crossed. While a crossed cheque is not payable over the counter but shall be collected only through a banker. The amount payable for the crossed cheque is transferred to the bank account of the payee.

What is a crossed cheque Hong Kong?

A crossed cheque is a cheque which must be deposited into a bank account. The holder cannot cash it in the issuing bank.

How long does a crossed cheque take to clear?

You’ll normally need to wait 1 working day after the day you pay the cheque in for it to clear, so if you pay a cheque in on Monday (before 3.30pm) it will usually clear by Tuesday.

How and why is cheque crossed?

Adding a crossing to a cheque increases its security in that it cannot be cashed at a bank counter but must be paid into an account in exactly the same name as that which appears on the ‘payee’ line of the cheque (i.e. the person who has received the cheque, who is legally the “payee” and “holder” of the cheque).

Can I deposit Cross cheque in any bank?

This cheque can be encashed at any bank, and the payment can be made to the person bearing the cheque. This cheque is transferable from the original payee (the original recipient of the payment) to another payee too.

How do you deposit a check crossed into the bank?

When you present a crossed check at the bank, the procedure to cash it is very similar to cashing a regular check. Sign the back of the crossed check, in the presence of a teller, and hand it over to her. You will also have to show proof of your identify using a government-issued identification card.

What is the difference between bearer cheque and crossed Cheque?

The bearer cheque does not contain the name of the payee and is payable to the person who presents it at the bank. A crossed cheque is a cheque drawn in favour of a specific person and the cheque contains two slanting parallel lines at the left upper corner of the cheque.

How do I deposit a cheque in Hong Kong?

Customers can deposit e-Cheque to DBS Bank account through the e-Cheque Drop Box service provided by Hong Kong Interbank Clearing Limited (“HKICL”). The e-Cheque Drop Box can be accessed through its website http://www.echeque.hkicl.com.hk or mobile application.

What does a crossed cheque look like?

A crossed cheque generally is a cheque that only bears two parallel transverse lines, optionally with the words ‘and company’ or ‘& Co.’ (or any abbreviation of them) on the face of the cheque, between the lines, usually at the top left corner or at any place in the approximate half (in width) of the cheque.

How do you sign a cheque in Hong Kong?

Sign bottom right, horizontally. You can ‘cross’ the cheque and write “A/C payee only’ meaning it can only be paid into the account of the person it is written out to. You can also cross out “or bearer” if that is on the cheque. I would write out a new cheque. Endorsing is possible in Hong Kong, but usually easier just to write a new cheque.

How to withdraw cash from Hong Kong bank account?

You can only bank it in to your bank account in HK, and wait a couple days before you can withdraw the cash. If the cheque is not crossed, and your name (exact match) or CASH is written, then you can go to a bank counter, present your ID, and get cash.

How do I make a stop payment on a crossed cheque?

If there is two parallel line “//”, the cheque becomes a crossed cheque. You can make a stop payment request for up to 20 cheques via Internet Banking. The service charge is counted by each request irrespective of the number of cheques. The statement will be sent by ordinary mail.

What is a crossed cheque and a bearer cheque?

A crossed cheque is a cheque which must be deposited into a bank account. The holder cannot cash it in the issuing bank. What is a bearer cheque? A bearer cheque is a cheque whose holder can cash it in the issuing bank. If there is two parallel line “//”, the cheque becomes a crossed cheque.