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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.

Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)


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Knowledge Base ID :   1382
Last Reviewed :   April 30, 2014
Source :   BankingInfo
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