What is MCC issue charges?

I understand that MCC issue charges are the charges that banks levy for issuing multi-city cheques. MCC full form in bank is multi-city cheques. These are cheques that can be encashed at any branch of the issuing bank, regardless of the city or town in which they are issued. This makes them a convenient option for people who travel frequently or who have business interests in multiple cities.

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MCC issue meaning

MCCs are also more expensive to issue than regular cheques. This is because banks need to take additional security measures to prevent MCCs from being counterfeited or misused. For example, MCCs may be printed on special paper or have other security features that are not present on regular cheques.

The amount of MCC issue charges can vary from bank to bank. However, the charges are typically around Rs. 3 per cheque leaf. This means that if you order a book of 50 MCC leaves, you will be charged Rs. 150 for the issue charges.

Here are some

:

• Ask your bank if they offer any discounts on MCC issue charges for customers who maintain a high balance or who have a salary account with the bank.

• Consider ordering a book of MCC leaves only when you need them. This will help you avoid paying unnecessary issue charges.

• If you are writing a cheque to someone who is located in the same city as you, you may be able to use a regular cheque instead of an MCC. This will save you the MCC issue charges.

I hope now you know MCC full form in bank.

MCC or Multi-City Cheque is an instrument introduced by the State Bank of India (SBI). A Multi-City is a cheque that can be issued in cheque-operated accounts along with normal cheque books. This instrument is generally issued for genuine transactions/ bonafide remittances. With the help of MCC, you cannot make cash payments to a third party. Now that we know the meaning of MCC in brief, let us understand about MCC issue charges in SBI bank.

The upper limit to issue MCC is Rs. 2 lacs. The issue charges for MCC are Rs. 3 per cheque leaf and this amount will be deducted from the account at the time when your cheque book is issued. Although there are no transaction charges. 

Although these are the current MCC charges for issuance the charges can vary from time to time. 

The Bank will ask the customer to pay reasonable charges for getting duplicate cheques after showing the receipt. If the instrument is obtained from a Bank/institution would charge a fee for the issuance of duplicate instruments which can be a maximum of Rs. 250.

Since the bank will charge you for cheque leaves as well, let me share the number of cheque leaves you will receive under different circumstances.

Number of cheque leaves:

1. a) Savings Bank Account

2. Personal Segment Customers : 10/25 leaves

3. SME Segment Customers : 10/25/50 leaves

4. b) Current Account : 25/50/100 leaves

5. c) Cash Credit : 25/50/100 leaves

6. d) Emergency Cheque Book : 5/10 leaves

7. e) Non-Personalised Welcome Kit : 5 leaves

This is all about what is MCC issue charges in brief. Hope this answer clears your doubt regarding MCC issue charges in SBI. 

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