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 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...
Who is eligible to open a current account in Malaysia? Where can I open a current account in Malaysia?
Different banks have different criteria for opening a current account. Generally, banks would only consider the application if the applicant is: 18 years old or above not a bankrupt of sound mind...
Who is responsible for dishonouring my cheque?
The paying bank is responsible for determining whether payment should be made to you.
What can I do if the cheque I banked in was returned to me for reason "account closed"?
You will have to recover the amount directly from the person who issued the cheque to you.

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