A cheque crossed as ‘Payees a/c only” is direction to

Question

Options:

A . The payee not to negotiate the cheque.

B . The paying banker to ensure that the proceeds of the cheque are credited to the payees a/c only.

C . The collecting banker to ensure that the proceeds of the cheques are collected for the account of the payee only.

D . None of the above

Answer: Option C

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