Banking · Banking Instruments

Which of the following is a limitation of banker's cheques in modern banking?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1They can only be issued in foreign currencies
2They cannot be issued by commercial banks
3They involve manual processes, clearing time, and lack the speed of electronic transactions✓
4They are unsecured and can bounce like personal cheques

Correct answer

They involve manual processes, clearing time, and lack the speed of electronic transactions

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