Knowledge Base Issues
How do I close my current account?
Give a written instruction to the bank to close the account and return all unused cheque leaves to the bank for cancellation. In addition, if you have issued any cheque which has not been cleared,...
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...
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...