What is a certified cheque and what is a manager's cheque? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is a certified cheque and what is a manager's cheque?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

A (certified cheque) is a personal cheque written by the customer, where the bank immediately blocks its value from his account to guarantee that the funds are available when it is cashed. A (manager's cheque) is a cheque issued by the bank itself at the customer's request, and its payment is 100% guaranteed because the bank, not the customer, is the party committed to paying.

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