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Discussion in 'Growing and Managing a Business' started by gamertwo1, Sep 26, 2013.
What is meant by bank cheque or bank transfeR?
Cheque is used to order a payment of money from a bank account. Suppose you have to pay someone $1000 you can issue a cheque to that name with your signature and the person whom you give the cheque can take that cheque and submit it to respective bank, that bank will verify the cheque and signature then the required amout will be submitted to that person.
Bank transfer on the other hand means transferring amount directly to bank accounts via ATMs, slips, internet banking, etc,..