Self cheque filling, example, features & benefits

March 23, 2024CHEQUE RETURN-REASONS

Self-cheque-Normally, It is seen that some Cheque books issued by the bank already have bearer cheques or order cheques. Because you will see a word written on the cheque “or bearer”, “or order”. These words define a cheque as a bearer cheque or an order cheque that can be used for payment to someone but is not safe. These cheques are called Self-cheques when you issue a cheque to yourself by writing the payee’s name as self for withdrawing cash from the bank.

In simple words, a Self-cheque is a cheque that is not crossed and it is a bearer cheque. It is used by the issuer to withdraw money from their bank account.

Contents of this post

What is a Self cheque?

A Self cheque is basically a cheque issued to the self for withdrawing cash from the bank account. This cheque can be encashed at the cheque issuer bank only. The payee’s name will be written as Self. It is used by the issuer for withdrawing cash from his bank account.

Images of a Self cheque

How can you identify a Self-cheque?

You can identify self-cheques by the word ‘self’ written in the drawee column. Self-cheques can only be drawn at the issuer’s bank.

What are the features of a Self-cheque?

These are the feature of the Self-cheques

1. It is a negotiable instrument.
2. This cheque may be an “or bearer” or “or order”
3. It should be signed on the front and back side.
4. It can be encashed by the drawer or anyone who presents a cheque.
5. Self cheque is very risky.
6. Generally, Identification is not required in a self-cheque.
7. It can not be deposited into the bank account. It can be encashed only.
8. It must be an uncrossed cheque.

How should I write a Self cheque?

These are the simple steps to know how to write a Self cheque-

1. Take a fresh cheque.
2. Enter the Date in the right top corner
3. Then enter the Recipient Name as Self.
4. Fill in the amount in numbers.
5. Write the amount in words.
6. Sign the cheque.
7. And make sure it is a bearer cheque or an order cheque.

What are the simple steps to write a self-cheque?

To write a self cheque in India, you can follow these simple steps:

1. First of all, Ensure that you have a bank account in the bank in India and a chequebook associated with that account. Self cheques can only be written from your bank account.
2. Now, Take out a blank cheque from your chequebook. Each cheque contains specific fields for filling in the payee’s name, date, amount, and signature.
3. Then in the “Pay” or “Pay to the Order of” section, write your name as the payee. You can write “Self” or your name in this space.
4. Then, Fill in the date field with the current date on which you are writing the self cheque.
5. After that, In the amount section, write the specific amount you wish to withdraw from your bank account in figures. For example, if you want to withdraw Rs. 10,000, write “10,000.00” in this space.
6. Then, In the amount section, write out the amount in words. For example, if you wrote “10,000.00” in figures, write “Ten thousand rupees only” in words.
7. Then, Sign the cheque at the bottom right-hand corner using the signature you have on file with your bank. Ensure that the signature matches the one you provided during the account opening process.
8. After completing the cheque, it’s a good practice to fill in the details on the counterfoil or stub attached to the chequebook. Write down the cheque number, date, amount, and purpose of the cheque for record-keeping.
9. Now, Carefully tear out the self cheque along the perforated line, making sure to keep the counterfoil or stub intact for your reference.
10. Then, Safely store the self cheque until you are ready to use it. You can deposit it into another bank account under your name or present it to your bank for cash withdrawal.

It’s essential to ensure the security of your cheques and keep them in a safe place to prevent unauthorized access and misuse.

What is the difference between a Self-cheque and a crossed cheque?

Should I give Self-cheque to my suppliers?