What is the difference between multi city cheque and normal cheque?

A multi-city cheque or MCC is a cheque which can be written by a customer in favour of his client which is payable at all the branches of the bank. A normal cheque is a kind of a bill issued by the drawer.

How do I check a multi city cheque?

Multi city cheque

  1. The form of cheque written directly by the customer that can be payable in each branch of that particular branch is a multi city cheque.
  2. It is only achieved in the case of the actual transaction.
  3. There are costs that are deducted from the account for issuing the cheque.

What is a multicity Cheque book?

Bank issues Personalised Cheque book to all its customers which are payable at par at all branches of the Bank in India, called as Multi City Cheque. With the Multi City Cheque Book, you can withdraw funds by yourself as well as make payment to people in cities other than at city/town where you maintain an account.

What is limit for multi-city cheque?

State Bank of India (SBI), country’s largest public sector, lender has introduced multi-city cheques with a limit of Rs 5 lakh for personal banking customers. It is taking this initiative to retain its existing customers, attract new ones and enhance its deposit base.

Can SBI cheque be deposited in any other branch?

Can I deposit Cheque in any branch of SBI? Answer – Yes, you can deposit cheque in any branch of SBI in India.

Is SBI cheque book free?

With respect to cheque book services, first 10 cheque leaves will be free of cost in a financial year. Thereafter, 10 leaf cheque book will be levied ₹40 plus GST; 25 leaf cheque book at ₹75 plus GST and emergency cheque book will attract a charge of ₹50 plus GST for 10 leaves or part thereof, the SBI added.

Does SBI charge for cheque book?

Can I deposit cheque in any city?

Banker’s cheques are issued only for the clearing area of the respective bank. It can be cleared in any branch of the same bank and city as it comes under the local jurisdiction.

Is SBI Cheque book free?