1 Answer | Add Yours
I believe the question relates to Bank Managers Cheque. It is a financial instrument just like a draft with only difference that it is issued for payment in the same city in which the issuing bank is located. A Bank manager's cheque, also called banker's cheque, is issued by bank to any person against payment of value of the cheque plus the bank commission charges.This is used for payment, when payment by cash is not suitable, and the person receiving the payment is not willing to accept payment by cheque issued by the person or organization making the payment. The person who receives payment by bankers cheque can get cash against the banker's cheque just like one gets payment against an ordinary cheque or a draft.
We’ve answered 319,814 questions. We can answer yours, too.Ask a question