Self Cheque is typically used to withdraw money or cash from your own business or saving account or from the company’s current account. A cheque is a negotiable instrument and it is a written order from one person to another, directing the first person to pay a sum of money to the second person.
What is Self Cheque?
A self cheque is a cheque that is issued by the drawer to his/her self for the purpose of cash withdrawal from his/her bank account. The self cheque can be issued by a Company, Entity, or an individual to withdraw cash from their Bank Account.
This kind of cheque is needed to withdraw cash from the Current or say Business Account. But in the case of a saving account, the cash withdrawal can be done by using a withdrawal slip as well.
Important Points regarding Self Cheque
- Self Cheque is used for Cash Withdrawl from Current (Business) Accounts or from the Saving account by an individual.
- A withdrawal slip or ATM machine can also be used to withdraw cash from a Saving Account but from the current account, we can use either Self Cheque or ATM machine to withdraw cash,
- Self Cheque method is primarily used by Business owners or Companies to withdraw cash from their Business Accounts and now it is also used by individuals as well to withdraw cash from their savings or current account.
- Never use a red or green pen.
- Either use a black pen or a blue pen to fill the cheque.
- Don’t Cross your self cheque. Otherwise, the meaning of the cheque will be changed and it will become account payee.
- Never cut the “BEARER” word from your cheque.
- Clearly signed your cheque so that it will match your bank record.
- Always try to make an extra signature on the back side of your Cheque.
- If the self cheque is issued by any company then don’t forget to use the company stamp as well on the backside.
- Always use the same date or pre-date on it, don’t use post date while making a cheque.
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How to write or fill out Self Cheque?
Follow the step-by-step guide provided below to fill or write your self cheque easily and quickly.
First, open your Cheque Book and select any Blank available Leaf from the book.
Now at the top most right corner under the Date Section fill either pre-date or the same date in the format of DD/MM/YYYY. This means if you want to write 5th January 2023 on your cheque, then make sure to write it as 05/01/2023.
Now move to the PAY section and under this write the word ‘SELF‘.
In the second row just after RUPEE, enter the amount in words as per your need.
After writing the amount in words. Now write the amount in digits as well in the separately provided box. If you want to withdraw ₹ 10,000 then fill the box like this 10,000/-
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Now Signed the cheque as per your bank record near the Signature Column mentioned on the cheque leaf. Don’t forget to provide an extra signature on the backside of your cheque.
Now, it’s up to you if you want to maintain your cheque record, then fill in the required details on the first page of your Cheque Book.
Through this article, you have come to know what is Self Cheque and how it is filled? Along with this, you also learned some other important things related to the term Self Cheque. Apart from this, if you have any doubts, suggestions, or queries related to this article, then do let us know by commenting down below.
Q: How do I present a Self Cheque?
Ans: Just write SELF in place of a PAY or say third party name on your cheque.
Q: What is the safest cheque type?
Ans: A Cross cheque type is the safest cheque for the payment because it tells the banker to not pay the amount from the counter. Thus this type of cheque should be deposited in the bank account of the person whose name is written on the cheque.
Akash completed his B.Tech in Electronics and Communication Engineering. Now he is following his passion for “Writing” on FinTech through this Blog. In a meantime, he loves to listen to music on Spotify.