Give a word/term or phrase for each of the following statements:

(i) Type of bank account in which money is deposited for a fixed period of time.

(ii) A written order is issued by the account holder to the bank to pay a certain amount from his account.

(iii) A cheque on which two parallel transverse lines are drawn on its face at the left-hand top corner with or without certain words.

(iv) A person who endorses the cheque.

(v) A person in whose favour the cheque is endorsed.

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1 Answers

(i) Fixed Deposit Account

(ii) Cheque

(iii) Crossed Cheque

(iv) Endorser

(v) Endorsee

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