dvader
TF Ace
They can do this without printing new cheques. Just send a circular that all cheques are by default payble to an account only and you need to write something extra to make it uncrossed.This need to cross cheques has been a long-standing puzzle to me that even several BMs couldn't provide a satisfactory answer to! I'm hoping knowledgeable members here could provide an explanation. So here are the details of my query:
Of the hundreds of cheques I have ever been required to write over the years, only a very very very few did not need to be crossed! I suspect many of you (if not most) have had similar experiences (although I suspect people needing to pay employees without bank accounts did have to issue bearer cheques, --- however that shouldn't be a necessity these days anymore). I do believe that a quite large fraction (if not the majority) of all cheques issued are crossed.
So my question was, why can't banks issue (at least as an option) chequebooks with all cheques already crossed by default ?!
An option then could be provided to cancel such imprinted crossing with a signature to turn such a cheque into a bearer cheque if and when needed.
Such an option of having pre-crossed cheques would have saved the effort to cross 99.99% of all cheques I have ever needed to write, and would have made the cheques safer by design to start with!
--- Hoping for a good answer. 🙂
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However this will probably never happen as long as cheques exists. The reason is; a Cheque is an official part of Negotiable Instrument Act 1881. Not only cheques are part of this act. Section 126 has a special mention of crossed cheque (though a bit different meaning today).
A law this old will never be changed because it will cost crores of rupees just in bureaucracy cost. Just like changing a city name costs hundreds of crores of Rupees. This is even bigger.
Yha 70 saal purane galat laws ko hatane me logo ki jindagiya chali gayi aur aap asi batein krte hain 😂
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