Knowledge Base Issues

  • How do I close my current account?
    Give a written instruction to the bank to close the account and return all unused cheque leaves to the bank for cancellation. In addition, if you have issued any cheque which has not been cleared,...
  • What is a current account?
    A current account is a form of deposit account that allows, among others, payment by way of cheques 1. This Knowledge Base category highlights the basic requirements relating to the operation and...
  • What types of current account are available in Malaysia?
    As an individual, you can open the following current accounts: Personal current account under your name; or Joint current account which is operated by you jointly with others, e.g. Any one of the...
  • 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...
  • What is clearing day-hold?
    Clearing day-hold refers to the time taken for funds from the cheques which have been cleared to be credited into the payee's account. The time taken would depend on the type of cheque deposited,...
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