There can be times when you need the help of the cheque as net banking may not come to rescue always specially when there is a huge amount involved.

Some institutions always demand to issue cheques instead of making online payment as it serves as handy proof and can be filed along with documents.

Multi City Cheque or payable at par cheque is a cheque drawn by a customer of the Bank in favour of a person or an entity and is payable at par at all branches of the Bank.

Here are few smart things to know on MCC cheques

1) There will be no limit for payment of MCC at home branch. The payment of MCCs at the home branch will have no restriction incase of limit on an amount of Cheques.

2) In home branch, order cheques to be permitted for cash payment at the home branch to the third party as per the endorsement of the drawer on the reverse of the cheque.

3) There will be a cap on payment of MCC at non-home branches with ceiling mentioned on the Cheques.

4) The maximum limit for transfer and clearing at non home branch for savings account (other than (NRI and HNI) is Rs 10lacs.

5) Current account holder and Corporate & Institutional Client will the maximum ceiling up to Rs 50 lakhs.

6) For High Net Worth individuals and non-resident Indian maximum limit is Rs 50 lacs.

7) Cash Payment at non-home branch permitted up to Rs. 50,000/- to the drawer only.

8) Cash payment of MCCs at the non-home branch will be restricted as per the limit specified depending on the account.

These are some guidelines followed by State Bank of India. Rules may vary depending on the bank and account held by the customer.

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