What is clearing day-hold?

Clearing day-hold refers to the time taken for funds from the cheques which have been cleared to be credited into the payee's account.

The time taken would depend on the type of cheque deposited, that is, whether the cheque is a house cheque 1, local cheque 2 or outstation cheque 3.

Recommending reading: What is the cheque clearing process in Malaysia? How does the cheque clearing process work? How long does it take for a cheque to clear?

References

1. House cheque means cheque belonging to the drawee bank of the same branch


2. Local cheque means cheque drawn and deposited within the local clearing zone


3. Outstation cheque means cheque drawn on banks outside the local clearing zone

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

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