Knowledge Base Issues

What is the difference between order cheque and bearer cheque? What is a bearer cheque? What is an order cheque?
A cheque is generally known as an Open cheque when it is not crossed whether it is made payable to bearer or order. Cheque in its printed form comes in the following manner: Pay ..... Or Bearer...
What is the cheque clearing process in Malaysia? How does the cheque clearing process work? How long does it take for a cheque to clear?
Cheque Clearing Process When you deposit a cheque into your account, your bank which is the collecting bank will send it to specific clearing centres to be sorted and dispatched to the drawee bank...
What are the reasons for cheques being returned unpaid?
Your bank will decline to pay a cheque issued by you due to the following reasons: Insufficient funds in your account to clear the cheque Missing signature(s) Signature(s) differ from specimen...
What are the parts or elements of a cheque?
It is important for you to know the elements of a cheque to ensure that the cheque is properly written since a duly completed and signed cheque acts as an authority to the drawee bank to withdraw...
What is a post-dated cheque? Can I deposit or cash a post-dated cheque? Is post-dating a cheque illegal?
A post-dated cheque is a cheque issued with a written date in the future or dated after the date of issue. Section 13 (2) of Bills of Exchange Act 1949 (Act 204) A bill is not invalid by reason...

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