A crossed cheque. Image credit freechequewriter.com

A crossed cheque. Image credit freechequewriter.com

ZIMSEC O Level Commerce Notes: Money and Banking: Cheque crossings

Crossed cheques

  • A cheque may have a general or special crossing on its face.

General crossing

general_crossings

  • The cheque has two parallel lines across its face.
  • It cannot be cashed over the counter.
  • The crossing cancels the order to pay on demand.
  • It must be deposited into a bank account.
  • It is safe to use because it can be traced if lost.
  • The payee must have a bank account.

Special crossing

special_crossing

  • The cheque has two parallel lines across its face.
  • It has the name of the payee’s bank and branch written in between the lines.
  • It has the words “ Not transferable” written across its face.
  • This makes the cheque more secure against theft.
  • The cheque must be deposited into a bank account at the stated bank branch.
  • It cannot be cashed over the counter.
  • One does not need to use registered post when sending it.
  • It is easy to trace if it is lost or stolen.

To access more topics go to the Commerce Notes page.

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