Payable to Bearer

Payable to Bearer

Describing a check or security containing no ownership information, for which the physical holder is therefore presumed to be the owner. One may cash a payable to bearer check at the bank on which the check is drawn, and may receive dividends or coupons on a bearer security by presenting it to the issuer.
References in classic literature ?
whipped out a key, went in, and presently came back with the matter of ten pounds in gold and a cheque for the balance on Coutts's, drawn payable to bearer and signed with a name that I can't mention, though it's one of the points of my story, but it was a name at least very well known and often printed.
It further states that the list of the restricted and prohibited items are any liquids, including alcohol beverages (beer, wine, spirits), collectable coins, bank notes, bank drafts or security of any kind payable to bearer, traveller's cheques, platinum, silver, gold, precious stones, jewellery, narcotics, explosives, flammable or any other dangerous substances.
According to the resolution, customs authorities must implement the money declaration regime issued by the UAE Central Bank on any cross-border movement of physical currency, payable to bearer financial instruments, precious metals or valuable stones.