WAEC - Office Practice (2020 - No. 7)
The implication of issuing a crossed cheque is that it can only be
cashed at the counter
cash after six month of its issue
lodged into the current account of the payee
lodged into the fixed deposit account
Paaiškinimas
Crossed cheque is payable over the counter on presentment by the payee to the paying banker, while a crossed cheque is not payable over the counter but shall be collected only through a banker.The amount payable for the crossed cheque is transferred to the bank account of the payee.