What are the circumstances under which a cheque may be used as a means of payment?

[Blessed19]

It has really been a long time I saw the face of a cheque not to talk about it being used but in cases of big contracts text can be used to receive the payment from the contract.

 

[astutimeliana723]

I guess a cheque should be used as a means of payment when they are paying a high amount of money

I think so too. Checks are commonly used for payments with large cash value transactions, to make it easier for us not to carry large amounts of cash. Apart from that, for security reasons, because checks that have been issued can still be canceled if there is something that makes them have to be cancelled. etc.

 

[Bisolami]

I think so too. Checks are commonly used for payments with large cash value transactions, to make it easier for us not to carry large amounts of cash. Apart from that, for security reasons, because checks that have been issued can still be canceled if there is something that makes them have to be cancelled. etc.

You hardly see a commoner like us giving someone a cheque or making payment with a cheque. People like us make bank transfers and all. I have also never received a cheque before.

 

[capri]

It would be beneficial to pay using a cheque in a scenario where a buyer is paying a large amount of money.
Such strategy would ensure that both the buyer and the seller are not inconvenienced with having to handle colossal sums in cash.

 

[Bisolami]

It would be beneficial to pay using a cheque in a scenario where a buyer is paying a large amount of money.
Such strategy would ensure that both the buyer and the seller are not inconvenienced with having to handle colossal sums in cash.

That is fir the rich people. I have never been issued a cheque but my mum has been issued a lot of times because she has a big grocery store and a lot of rich people patronize her

 

[Heatman]

When the amounts involved in the transactions are higher
When the seller insists on payment by cheque
When the evidence of cheque is required

If a business does not approve the use of cheque for payment, there is no way it can be used to pay for anything.

I know it is only when a business approved for cheque to be used as a means of payment that it can be relevant in that kind of business.

 

[Stardom22]

Most businesses would patronise the use of a cheque when dealing with a very larger amount of cash volume which may seem to be more riskier to carry from one place to the other.

 

[astutimeliana723]

You hardly see a commoner like us giving someone a cheque or making payment with a cheque. People like us make bank transfers and all. I have also never received a cheque before.

Yes, I am the same as you, I have never made a transaction using a check. So far I've had enough with cash, e-wallets and bank transfers. Because my transaction value is relatively small, so I don't need a check.

 

[Niyi Briggs]

Cheques are used in business transactions to double check fraud. With Cheques, there would be identity check which helps to ensure that you are not giving the wrong person the money. Cheques could be very important in business.

 

[Bisolami]

Yes, I am the same as you, I have never made a transaction using a check. So far I've had enough with cash, e-wallets and bank transfers. Because my transaction value is relatively small, so I don't need a check.

And the good thing is that you can still transfer a lot of money with your phone but it cannot just be as much as cheques. Cheques is for big people and also big companies

 

[kirubel]

Most of the times payment through cheque is used when the payer have no time to go in person to the bank and transfer the money it give s cheque to the worker or to the person who wants the money.

 

[Etini Willie]

The only realistic situation when a cheque could be a means of payment is when it is usede as a security deposit. I won't accept a cheque for any reasons apart from that.

 

[Fidelia]

I think a cheque can be used as a means of payment in the situation that the amount to be paid for a product involves a huge sum of money in the region of millions of dollars.

 

[cherry123]

I think Cheques are often used if the amount that is involved in the transaction is very huge. you can give the person a cheque

 

[nomad]

If you want to pay bigger amount and if you want to pay directly through your business account, you might use a check.

 

[Stardom22]

When the business parties involved deal with large sum of money the most Ideal means of payment tends to be the chaque.