Thursday, March 21, 2013

Banks to charge 50 sen to process a cheque from April 2014

Read on The Star today that come April 1 next year, banks will impose a cheque processing fee of 50 sen on the issuer of the cheque to promote greater efficiency says Bank Negara. This fee would be in addition to the existing stamp duty of 15 sen per cheque leaf.

And effective May 2, 2013, the fee for Interbank GIRO or IBG transactions done online via internet banking and mobile banking, would be at 10 sen.

Read more here: The Star..BNM: Banks to charge 50 sen to process a cheque from April 2014

Times they are a-changing..


  1. this is so ridiculous, we paid tax and they are collecting more tax from us!! i wonder when BNM will instruct banks to collect savings tax like what Cyprus recently exercised.. :D

  2. what....dammit....not enough money ka??? what effieciency pulak....

  3. now electric bill they also charge additional 1 % leh of use above 300 units...said collect on behalf kerajaan for dana guna tenaga baru....grrrr

  4. Oh NO!!!! So they are discouraging us to use cheques? Want to go green? Or just simply to make a hefty profit at our expense?