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...
Can I issue a cheque that bears a date on a Sunday? Can I cash a cheque that bears a non-existent date? What is an ante-dated cheque?
A cheque can be dated on Sunday and it is not invalid by only that reason. A cheque dated on Sunday or public holiday should be paid on the following working day. A cheque dated on a non-existing...
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 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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