Knowledge Base Issues
Does the bank have the right to request that I close my account with them?
You should enquire from your bank the reason(s) for this. However, banks have the right to close any account that is not satisfactorily operated. In addition, the conduct of the account must be in...
Can my wife operate my current account when I am overseas?
Yes, provided you issue a mandate 1 to your bank and your bank approves. In some instances, only short term appointments are allowed, e.g., for six (6) months or less. The mandate must clearly...
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 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...