An order to or from the drawee (usually a bank), cheque holder or another named person, that is payable on demand and linked to specific formalities, to pay a specified sum of money. Unlike a bill of exchange, a cheque is not a means of credit but a means of cashless payment. In Switzerland, cheques may be drawn only on a bank or the Post Office where the cheque issuer has a credit balance available to cover cheque transactions. Cheques made out to the bearer can be transferred to others simply by handing them over. Crossed cheques are limited in how they can be used. See also traveller's cheque, correspondence cheque, crossed cheque, blank cheque, banker's draft.