Knowledge Base Issues
If I accept a cheque denominated in foreign currency, what charges will I incur and how long will it take before I can get the money?
The common charges that you may incur when you deposit a foreign currency denominated cheque include commission, stamp duty, agent's charges, drawee bank's charges, courier charges and handling...
What are the duties and responsibilities of a current accountholder?
Some of your duties and responsibilities as an accountholder are: Keep your account numbers confidential and keep your account statements in a safe and secure place Safeguard and keep confidential...
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 is the foreign cheque clearing process in Malaysia?
If you deposit a foreign currency denominated cheque issued by an issuer from that foreign country (e.g., the cheque, denominated in Pound Sterling issued by a person residing in the UK and the...
When does a current account become classified as inactive? What happens to inactive current account in Malaysia?
Where there has been no transaction (either a withdrawal or deposit) in the account for a period of seven years, the account will be classified as unclaimed moneys. Under the Unclaimed Moneys Act...