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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.

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


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Notes
Knowledge Base ID :   1384
Last Reviewed :   April 30, 2014
Source :   BankingInfo
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