Counter cheque
1) Issued by bank when payee has already transferred funds to bank (or funds have been debited from his account). As with bank/ banker’s draft, guarantees clearance and is thus a ‘safe’ cheque (ie will not ‘bounce’).
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Counter cheque 1) Issued by bank when payee has already transferred funds to bank (or funds have been debited from his account). As with bank/ banker’s draft, guarantees clearance and is thus a ‘safe’ cheque (ie will not ‘bounce’). |
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