Personal cheque – is a document, by which a person (the drawer) gives order to a bank (the drawee) to pay in favour of a third person (the beneficiary) an amount of money, which is in a possession of the issuer (drawer).

• issuer (drawer)  - is  a person issuing (drawing) a cheque, giving order to a payer to pay a cheque; The issuer of a cheque can be a buyer, a beneficiary of some service, or a debtor, who pays its obligation by issuing a cheque;
• bank (drawee)  - is a part, executing the payment based on the order, received from the issuer (drawer); The payer is always the bank with which the drawer has an opened account;
• beneficiary  - is an individual or legal person, specified by the issuer (drawer), in favour of which the bank shall effect payment (the beneficiary is the person which encashes the cheque), the Beneficiary can be a third person (seller of goods, service provider or the drawer’s creditor) or the issuer (drawer) himself/herself in case he/she needs cash.

Issuance of a cheque is carried out in two stages:

1) filling in (editing) the cheque;

2) the cheque’s transfer to the beneficiary.

To encash a personal cheque you shall:

1. Address to one of the branch-offices or representations of VICTORIABANK.
2. To fill in an application with regard to remittance of the cheque for encashment, producing a valid identity document (your identity card or passport).
3. To open a current account in the currency of the cheque.
4. To deposit a guarantee amount for service of the personal cheque:

• 50 USD/EUR in case the personal cheque’s value is less than  5,000 EUR/USD
• 100 USD/EUR in case the personal cheque’s value is more than  5,000 EUR/USD

5. To return to the bank (within 3 (minimum) and 5 (maximum) weeks) to withdraw the money.

*In case a cheque’s value exceeds 10,000 USD/EUR, the cheque’s beneficiary may withdraw the money not earlier then in 7 weeks.

To buy a personal cheque, issued by AMERICAN EXPRESS and drawn on the VICTORIABANK in USD or EUR you shall

1. Address to the Branch-office no. 3, situated at 141, 31 August 1989 St., Chişinău.
2. To have with you your identity document.
3. To specify the amount, currency and beneficiary of the personal cheque.
4. To pay the cheque’s value and the commission, charged by the bank.

Commissions, charged by the Bank for operations with personal cheques:

0,3% min 3$/EUR – for operations of submission for encashment of personal cheques:

5$/ EUR – for sending a cheque by mail

10$ + commission of the foreign bank – for the return of unpaid cheques.

1% min 5$/EUR – for operations of cash dispensing against the personal cheques, accepted for encashment.

0,5% min 5$/EUR – for sale of AMEX personal cheques for EUR/USD.