1. Cash payments are very risky and unsecured:
Transaction in large cash , sometimes may be illegal. Apart from it there is a chance of cash loss, theft or if the agent is dishonest he may misappropriate your money.
2. Dealing in cheque in spite of cash is more secure in nature:
Always use crossed cheque while trading with your financial advisor. Any cheque that is crossed with two parallel lines, through the top left hand corner of the cheque called crossed cheque. This symbol means that the cheque can only be deposited directly into a bank account and cannot be immediately cashed by a bank or any other credit institution.
3. You can also trade with a Demand Draft:
The demand draft states that the cheque is authorized by the buyer and is guaranteed by his bank. If you are trading with a demand draft(DD), then make sure it has all the details ,for additional safety.
Transaction in large cash , sometimes may be illegal. Apart from it there is a chance of cash loss, theft or if the agent is dishonest he may misappropriate your money.
2. Dealing in cheque in spite of cash is more secure in nature:
Always use crossed cheque while trading with your financial advisor. Any cheque that is crossed with two parallel lines, through the top left hand corner of the cheque called crossed cheque. This symbol means that the cheque can only be deposited directly into a bank account and cannot be immediately cashed by a bank or any other credit institution.
3. You can also trade with a Demand Draft:
The demand draft states that the cheque is authorized by the buyer and is guaranteed by his bank. If you are trading with a demand draft(DD), then make sure it has all the details ,for additional safety.
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