Payments Through The Bank

payments through bank | Bank cheque PAYMENTS THROUGH THE BANK

A bank cheque is a particular form of bill of exchange, but unlike other bills of exchange it is always payable on demand. It is by far the commonest form of payment used to settle credit transactions in the home trade in countries where the bank cheque system has been developed and may also be used to pay debts abroad.

A receipt is the best, but not the only, evidence of payment and cheques that have been paid by a banker and later returned to his customers may be produced as receipts. When payment is made by cheque a separate receipt is therefore unnecessary, though the payer may legally demand a receipt if he wants one. Sample of Payment by bank cheque (and acknowledgment)

(a) Payment

20th June 2010

Dear Sirs

In full settlement of your invoice No 8254, we have
pleasure in sending you our cheque for £82.62 drawn on the National Barminster Bank.
Please send us your official receipt.

Yours faithfully

(b) Acknowledgment

26th June 2010

Dear Sirs

With your letter of 20th June you sent us your cheque for £82.62 in payment of our invoice No 8254 and we are now pleased to send you our official receipt.

We hope you have been satisfied with our handling of your order and that we may have the pleasure of serving you another time.

Yours faithfully


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