What types of current account are available in Malaysia? As an individual, you can open the following current accounts: Personal current account under your name; or Joint current account which is operated by you jointly with others, e.g. Any one of the...
How do I use a current account? You can start using your current account once it is approved by your bank. Withdrawals from your account (subject to the available balance in the account) can be made either through cheques or ATM...
What are the parts or elements of a cheque? It is important for you to know the elements of a cheque to ensure that the cheque is properly written since a duly completed and signed cheque acts as an authority to the drawee bank to withdraw...
Safety Measures: What are the do's and don'ts of using cheques? Do's Write clearly and legibly and always use permanent ink pens such as a ball pen Ensure no alteration/amendment/erasure on the face of the cheque as banks will reject such cheques Begin writing...
What are the reasons for cheques being returned unpaid? Your bank will decline to pay a cheque issued by you due to the following reasons: Insufficient funds in your account to clear the cheque Missing signature(s) Signature(s) differ from specimen...
Under what circumstances can a current account be closed? An account can be closed under the following circumstances: On accountholder's request Accountholder must provide a written request and return any unused cheque leaves for cancellation On...
