What is MC

It is a check issued by the bank against its own account, and is signed by a manager and maybe
another officer. Compare that with a regular check which is issued by persons/corporations against
their account with the bank.
Banks will charge for the service. Fees will vary from bank to bank.
Generally you must be an accountholder to be able to buy a manager's check, but a bank may sell you
one even if you are not, if you are properly identified, introduced, referred, or otherwise known to the
bank. They do not want their checks to be used for fraudulent or illegal transactions, which is why
they want to know who their customers are.

Difference Between MC and Personal/Customer Check

Regular checks are subject to rejections if no enough balance is available. Manager's checks,
however, are guaranteed (i.e., your bank guarantees that funds will be automatically available upon
demand or presentation of the MC). It is considered as good as cash.
If the manager's checque get's lost, you lose you money unless you report it to the bank and ask for
a replacement, wherein some banks asks for affidavit of lose and other legal papers. A personal
cheque when it get's lost you just report it to the bank and they will cancel that serial number so the
checque would not be honored anymore.

Steps to Purchase a Managers Check

1. Proceed to the bank where you hold an account.
2. In the bank, ask for a form to purchase a managers check. Fill in the form. Double or triple
check the information youve written on the form.
3. After you fill in the form, queue in the line and present the form, your ATM card or passbook, valid
IDs and the managers check fee.
4. The bank will hand over the managers check to you. Double check that the name, amount (in
words and number), date and signatories are all correct.
Notes:
The fee to purchase a managers check varies from bank to bank. You may try and ask for the fee
to be waived if youre a VIP customer.

 A managers check will no longer be valid after 6 months of issuance date.

If you lose the managers check, file for an affidavit of loss, report it to the bank and ask for a
replacement subject to fees.
To cancel the managers check, you need to return the original check to the issuing bank with your
valid IDs. Make sure that the person who purchased the MC is the same person who returns the
original check for cancellation.

Managers Check Fee of Some Banks as of 14 May 2012:

BDO: Php 30

BPI or BPI Family: Php 50

China Bank: Php 30

HSBC: Php 100

Maybank: Php 31.50