The financial encyclopedia uses cookies to improve your user experience. Find out more here!



 

 


 

Cheques: endorsement
 

 

Cheques, being bills of exchange, are transferable by endorsement. No endorsement however is necessary where they are paid into the account of the payee. A bank will however still require an endorsement where the payment is over the counter or to a person other than the payee.

Reference: The Penguin Business Dictionary, 3rd edt.