A Banker's Cheque is a cheque issued by the Bank payable to the order of specified payee for payment within a local area.
Features and Benefits:
1-All Banker's Cheques are pre-printed with the crossing "NOT NEGOTIABLE".
2-To be issued for use only within the clearing area of the issuing Bank and if cleared outside the clearing area then the normal outstation cheque commission is payable.
3-Should be accepted as good by the payee as it has been paid for by the customer at time of issue. It cannot be returned except for technical reasons.
4-To be used by customers who do not have a current account but wish to make payments by cheques, or in situations when a personal cheque is unacceptable.