Cheques and cash

The Banque Wormser Frères is a credit-issuing establishment, founded in 1936.

manager.one is the result of a partnership between this bank and new banking technology developed by SaGa Corp.

Your funds are deposited with the Banque Wormser Frères, who are fully authorised to conduct all types of banking operation. When you open a manager.one account, you can rely on the dedication and standards of a bank that has been operating for almost a century. Your deposit is fully covered by Deposit Insurance (the EU’s FGDR programme).

From your manager.one customer area, make the request directly in your secure mailbox by providing the amount, the beneficiary's order, his address (if you choose to send it by post) and the reason for the transaction.

A manager.one advisor will then take care of issuing your cheque. The processing time is 48 hours from the receipt of all the requested elements.

This service is charged at €20.00 per cheque.

Firstly, we have no physical agencies, so it’s more difficult to deposit cheques. You would have to send them by registered post.

Moreover, cheque cashing is a manual process. This runs counter to the manager.one philosophy, which deals in innovation and automation.

Don’t forget that there’s always a risk that a cheque can be revoked up to 60 days after it is cashed. This is a major source of insecurity, and goes against our ethos.

This mode of payment is becoming obsolete. It no longer meets the security requirements guaranteed by other types of payment, such as by debit card or bank transfer.

We’d recommend, for reasons of security, speed and convenience, to orient your clients towards card or bank transfer payments.

If this is not possible, then only a traditional bank will be able to handle your regular cash and cheque deposits. manager.one doesn’t have any physical agencies. As such, we can’t handle regular cash and cheque deposits.

However, occasionally and under certain circumstances, we can cash these payments.

Anti-terrorism and money-laundering legislation requires us to accurately determine and identify the source of funds.

However, when you use a banker’s cheque, you remove the name of the payer and replace it with the name of the bank. This breaks the link between the payer and the payment. More stringent procedures are therefore put in place.

Bank transfer payments do not incur the same risks and constraints as banker’s cheques. In the end, it’s just easier and more secure to ask for a bank transfer.