hi all,
Please tell me what is difference between ordinary cheque book and multi city cheque book.These cheque books are use for which account.
5 Replies
(Guest)
this is related to bank. Ordinary Chq Bk is only for the same city, means clearing against this chq is for local (in 1or 3 days). An ordinary chq takes 15-30 days clearance time if deposited in other city.
Multicity chq can deposit at any place (subject to availability of Bank Branch) takes only 1-3 days time, means muli city chq can be more useful then ordinary chq
>> Rajesh
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 24 February 2009
In Multicity cheque book all cheques issued by you will be payable at par at various branches across the country. This is a unique facility, which gives power to issue cheques that are treated as local cheques at all locations across India.
Local cheque as said by Rajesh.
jay prakash heerwal
(Service)
(450 Points)
Replied 24 February 2009
Hi Rina !
ordinary cheque book can be cleared in same city in which account holder open his bank account. however cheque can be deposited in any other city but for this service bank will charge extra amount and the bank will take more time to clear this cheque.
whereas multicity cheque is cleared in any city without any extra charge & without delay. but one condition that in both city bank shold be there.
Prabeer
(B. COM (H) CA & CS Final)
(5484 Points)
Replied 24 February 2009
Is there any entra amount charged by banks for providing multi city cheque books to individuals & corporates???
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