What is managers cheque

A manager's cheque, also known as a banker's cheque or pay order, is a secure payment instrument issued by a bank on behalf of a customer. Unlike personal cheques, the bank guarantees the payment because the funds are debited from the sender's account at the time of issuance. This eliminates the risk of the cheque bouncing due to insufficient funds. Key features include:

• It is typically used for high-value transactions like real estate or vehicle purchases.
• It is generally used for payments within the same city.
• It is valid for three months from the date of issue.