Topic > Features and characteristics of a bank check? - 1028

The account holder's name is on it. Automatic checks are cashed by the branch where you have a bank account. Automatic checks can also be issued to third parties. In this case the issuer can write "self" instead of the name of the third party. Writing "self" on checks is not safe at all since anyone can claim the check as their own and the issuer and bank will have no clue as to the person who cashed the check. This situation worsens in the case of a misplaced or misplaced check. • Pay Yourself Check: These checks are issued by crossing them because the issuer wants the bank to deduct the money from his account. Paid checks are issued for the purchase of cashier's checks, money orders, and fixed deposit receipts. • PDC: PDC stands for Post Dated Checks. These checks are issued with a future date because the issuer wants the check to be cashed at a specific time. These checks are issued for making corporate payments and EMIs. • Local Check: These checks are issued for presentation at a bank located within the city limits. However, local checks are becoming obsolete as multi-city checkbooks are replacing them