what is the difference between bearer and holder
A bearer cheque is one that does not has the word Bearer on the cheque cancelled. The cheque sometimes can be made payable to Cash or bearer or made payable to a specific name, for example, Ahmad Osman or Bearer. This cheque is payable by the drawee bank over the counter to the Bearer or presenter of the cheque. A Bearer cheque can be negotiated or pass to another person by mere delivery. In other words, the holder (or the Transferer), when giving it to another person need not endorse the cheque. No identification is needed when a bearer cheque is presented for encashment. However, in normal banking practice, where the amount of the cheque is substantial, the identity of the encasher is insisted on.