Knowledge Base Issues

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 should I do if a cheque which I have deposited has been returned to me by my bank stamped "refer to drawer"?
Refer to drawer means that clarifications have to be sought from the person who issued the cheque. The reasons may vary from case to case, such as insufficient funds in the drawer's account. In...
Can I stop payment on a cheque? How do I stop or cancel a cheque?
If your cheque has gone astray, it is possible to prevent payment of the cheque by giving a stop payment instruction to your bank. You may give the instruction by phone, but your bank would...
Can I, as the issuer, alter or modify any detail on a cheque and counter-sign in full next to the alteration?
No. Bank Negara Malaysia (BNM) implemented the new Cheque Truncation Conversion System (CTCS) 1 replacing the existing SPICK clearing system nationwide from June 1, 2008. One of the key...
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...

1 2 3 4 5 6 7 8