Knowledge Base Issues

Can a cheque be made payable to two parties i.e. A or B?
Yes. A cheque can be made payable to either A or B.
What is a fictitious payee? What is a non-existing payee? What is the difference between a fictitious payee and a non-existing payee?
A cheque may be drawn payable to a named payee whom does not in fact exist. Section 7(3) Bills of Exchange states that: where the payee is a fictitious or non-existing person the bill may be...
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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.
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 should I do if I found that some cheques missing from my cheque book?
You should report this to your bank immediately and request for stop payment on these cheques. You will be charged a stop cheque fee. Bank service fees are different - typically between RM10.00 to...

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