When a customer writes a cheque to withdraw cash from his current account, he is both the?
Answer Details
When a customer writes a cheque to withdraw cash from his current account, he is both the Drawer and the Payee.
The term "drawer" refers to the person who writes the cheque and orders the bank to pay the specified amount to the recipient or payee. In this case, the customer is the one who is writing the cheque and ordering the bank to pay him/her the specified amount in cash.
The term "payee" refers to the person who receives the payment or the beneficiary of the cheque. In this case, the customer is also the one who is receiving the payment or the beneficiary of the cheque since he/she is writing the cheque to withdraw cash from his/her own account.
Therefore, the customer is both the drawer and the payee when he/she writes a cheque to withdraw cash from his/her current account.