Time for a Manager's Check to clear
 

We are selling a property next week.
Buyer uses a different Philippines bank to my Philippnies bank and he will pay using a Manager's Check.

Does anyone know if, for the above case, the Manager's Check needs time to clear, and how long or are the funds available instantly?

Re: Time for a Manager's Check to clear
 

It's supposed to be as good as cash, but you know how things work here so your mileage may vary.

Talk to your bank.

Re: Time for a Manager's Check to clear
 

We paid for our car by managers cheque and I think the dealer just ran it down to his bank while we waited just to check it was legit then we drove the car away.

Re: Time for a Manager's Check to clear
 

Managers cheque as good cash.

Re: Time for a Manager's Check to clear
 

presented through the bank clearing system it will take 3 working days to clear.

treating it as a ''special presentation'' by taking the cheque direct to the drawing bank will get an instant answer

Re: Time for a Manager's Check to clear
 

When I sold a property and received managers check it was credited within 3 working days and was from a different bank to mine. Hope your transaction went smoothly.