Knowledge Base Issues

If a cheque is made payable to a company, e.g., ABC Sdn. Bhd or 'bearer', can the 'bearer' of the cheque encash it over the counter?
No. Generally banks will require you to deposit it into the account of ABC Sdn. Bhd. to reduce the incidence of fraud.
What is the difference between forged and unauthorised signature?
Forgery is the production of a replica to as close as possible to the actual object with the intention of deceiving people into accepting it as the original. Where the forgery consists of the...
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.
Why do banks charge customers for encashing account payee cheques?
To minimise the risk of loss from open cheques due to robbery, theft and fraud, banks have issued pre-printed account payee cheques. Notwithstanding this, some banks may allow the accountholder...
Are "account payee only" cheques transferable?
No. When a cheque is crossed not negotiable or account payee only, the cheque must be deposited into the account of the payee.

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