what is the meaning of at par cheque?

Answer 1

At par cheque is a cheque on which no charge is deducted by the bank for crediting to your account, even if your account is in a branch that is in a different city from where the cheque is issued.
For example, if your account is in Mumbai, and a company with its account in Delhi gives you a cheque, the Bank will charge certain amount from the cheque, as the cheque will have to be sent to Delhi to get cleared.

However, with the networking of branches of most banks, it is possible to get the cheque cleared without sending it to the issuing branch.

So, many private and some public sector banks are issuing at par chequebooks to their account holders. This means that you can pay a bill in Delhi by cheque even if your account is in some different city. The receiver of the cheque will not have to pay any charge on the credit of the cheque, meaning that he will be more willing to accept your cheque.

Answer 2

Cheques Definition

Answer 3

Cheque Payable at Par means the amount mentioned in the instrument would be payable to payee without deducting any charges. Many banks now a days extend this facility and the at par cheque can be used as a draft.

Answer 4

At par cheque,it means the account holder can get money from any its bank branches with the fast as in the local and there is no collection charges at all for at par cheque.and the account holder can used as DD to give amounts to others,but there is a limited amount for this.

Answer 5

On Par Meaning

Answer 6

At Par means without any charges. Any cheque that is payable at any place, without deducting charges to the presentor, and without delay on presentation, apart from the branch where the account is maintained is known as at par cheque.
Normally the banks in india charges the accountholder for providing such facility or expects decent business from them.

Answer 7

at par cheques are cheques issued by banks which can be paid at any of their branches in any city (equivalent to local )
for eg:- a account holder has a a/c in Bangalore in HDFC bank,he wants to pay someone in Chennai,but his client in Chennai will not accept outstation cheque,he wants a local cheque only,then you can issue a at par cheque which is considered a local though it is from your Bangalore A/c.Hope you have got your query solved.

Answer 8

I would like to check how all cheques are being printed in all the banks around the world. A-Z index of all banks with their chequeleaf image.

Answer 9

if it is atpar cheque you can present it any branch of the same bank to clearing. recognising this cheque is very easy. all '0000" will be printed at white strip at the place of the branch code.generally there will be the pin code printed .

Answer 10

I partially agree with all of the above ans , but some as said as pin code , N DD are not right . A pay @ par always is an ac payee .