What precautions should a drawer undertake to ensure the safety of the cheque?

What precautions should a drawer undertake to ensure the safety of the cheque?

  • He should cross it such that it is not cashed across the counter.
  • He should not leave unnecessary gaps between words and figures when filling it.
  • He should avoid signing blank cheques.
  • He should not expose his signature since it may be forged.
  • He should keep the cheque under key and lock.
  • He should report loss of the cheque to the police or bank




  • Review Bank Statements: Regularly review your bank statements to ensure that all cheques issued by you are accurately recorded and that there are no suspicious or unauthorized transactions.
  • Report Lost or Stolen Cheques: If your chequebook or cheques are lost or stolen, report it immediately to your bank and the relevant authorities to prevent potential misuse.
  • Be Cautious with Payee Information: Verify the accuracy of the payee information before writing a cheque, including the name, address, and account number. Be cautious when writing cheques to unknown or unfamiliar payees.

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mwaikusa

IAM experienced geography teacher with more than three years of teaching and creating content related to geography and other subjects for both high school and college students. hope you will find the content of this website useful to your studies and daily life

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