An Account Payee Cheque is a cheque that can be credited only to the bank account of the person or organization named on the cheque. It cannot be encashed over the counter. How to identify:- Two parallel lines on the top left corner of the cheque Words written between the lines: “A/C Payee”, “Account Payee Only”, or “A/C Payee Only” Example: If a cheque is issued to “M/s ABC Pvt. Ltd.” and marked A/C Payee, the amount will be credited only to that firm’s bank account—not to any individual. Credi
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✔️✔️ The way you make and receive payments is changing with the new Confirmation of Payee check. When setting up a payment to a new payee, you’ll need to include the account number and the full first and last name of the account owner, or the business account name, if it's a business. Once the check is complete, and before you make the payment, you’ll see if the account owner name and number are a match or not. Find out more at asb.co.nz/COP | ASB Bank
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