Important Notice



Cheque Clearing

Cheque(s) received before the cut-off time will be posted to your account on the same day. The fund will be available post cheque-clearance process on the next working day provided the cheque is not returned.
Cheque(s) deposited before Transaction Posting Funds Availability
Monday – Friday (excluding public holiday), 4.00 PM Same business day, by close of day Next business day, by close of day
 
Dated: 01 November 2017



BNM ESS Purpose Codes and Definition

With reference to Bank Negara Malaysia (BNM) External Sector Statistics (ESS) System reporting, the updated list of Purpose Codes and Definition is available here
 
Dated: 28 July 2017




Interbank GIRO (IBG) Cut-Off Time Update [ Effective 8 December 2014 ]
All IBG payments can be made conveniently and securely via online banking services at only 10 sen per transaction.
The maximum payment limit is set at MYR 1,000,000 per transaction.

Payment Initiated by Customers *Funds Received by Beneficiaries
Business Days
(Mon – Fri)
Before 5:00 am Same business day By 11:00 am
5:01 am to 8:00 am By 2:00 pm
8:01 am to 11:00 am By 5:00 pm
11:01 am to 2:00 pm By 8:20 pm
2:01 pm to 5:00 pm By 11:00 pm
After 5:00 pm Next business day By 11:00 am
Non-Business Days
(Saturday, Sunday and
Federal Territory Public Holidays)
Next business day By 11:00 am
* Under normal circumstances

Applicable for all IBG payments and funds transfer to current accounts & savings
accounts.
If a remitting customer initiates an IBG transaction today up to and including 5.00pm ,
the remitting customer will receive the returned funds on the *next business day by
11.00am.
Dated: 15 December 2014



BNM Disclosure Requirement

Bank Negara Malaysia (BNM) has informed all banking institutions on the implementation of the disclosure requirements
for e-payment services and fees on 1 Oct 2014.
 
Our interest remains aligned with BNM on the e-payment initiatives and transparency on the services that we provide.
 
Kindly refer to Information Disclosure on E-payment Services and Check Services for the information disclosed.
 

Dated: 18 October 2014




Zeus Malware Alert!

It has been reported that a malware known as the Zeus virus may cause members of the public, who regularly perform
e-banking on their desktop/mobile phones/tablets, to be vulnerable to financial data theft.
 
Bank Negara Malaysia (BNM) has requested all member banks of Association of Banks in Malaysia (ABM) to alert our
clients by including Malaysia Computer Emergency Response Team (MyCert)’s advice onto our website.
 
For advice and more information, kindly refer to MyCert website Third Party Site Link.
 

Dated: 18 October 2014




Increase in Base Lending Rate (BLR)

With effect from 1 August 2014, the BLR will be revised to 6.65% per annum due to Bank Negara Malaysia (BNM)
Monetary Policy Committee’s recent decision on 10 July 2014 to increase the Overnight Policy Rate to 3.25%
per annum. Kindly refer to BNM Press Release Ref. No. 07/14/05 at BNM website Third Party Site Link.
 
Existing floating rate of monthly installments of housing loans/financing facilities which are priced against the
BLR will be automatically updated and will come into effect on 1 August 2014.


Dated: 25 July 2014




Updated Payment Reference Standards

Payments can be easily identified for Interbank GIRO (IBG) fund transfers by internet.
The main aim is to facilitate reconciliation on the part of the recipient. Sender is now
required to provide additional details relating to the fund transfer under:

“Recipient Reference”, which is compulsory; and,
“Other Payment Details”, which is optional.

These details, together with the sender’s name will appear on the online and/or hard-
copy version of the recipient’s bank account statement.




Guidelines with Regard to Cheque Processing Fee Issued by The Association of Banks in Malaysia

1. Charging of the cheque processing fee
1.1 With effect from 2 January 2015, a 50 sen cheque processing fee will be charged whenever a cheque is received by a bank for processing, whether for encashment over the counter or for depositing into an account.
 
1.2 The cheque processing fee will be in addition to the stamp duty collected by the bank.
 
2. Party to bear the cheque processing fee
The fee is to be charged to the drawer or issuer of the cheque or his account.
 
3. Banker’s cheque/bank draft/cashier’s order
In the case of a banker’s cheque/bank draft/cashier’s order, i.e. a cheque issued by a bank, the applicant of the banker’s cheque/bank draft/cashier’s order will have to pay the cheque processing fee at the time of application. The cheque processing fee will be in addition to the stamp duty and commission collected by the bank.
 
4. Cheque returned unpaid
4.1 Generally, if a cheque is returned unpaid, the cheque processing fee will not be refunded and will still be charged.
 
4.2 This would include the case of a post dated cheque which is being presented by the beneficiary before the date of the cheque. The drawer or issuer will still be charged the cheque processing fee.
 
4.3 However the cheque processing fee will be refunded if the cheque is returned unpaid due to an omission or error made by the bank concerned e.g. in the case where a good cheque is wrongly returned by the bank.
 
5. Re-presentation
The drawer or issuer will be charged with the processing fee again when the cheque is represented or each time the cheque is re-presented, if it happens more than once.
 
6. Regularity of collection of the cheque processing fee
Banks will have the discretion of determining when the cheque processing fee will be collected, be it on a cheque by cheque basis or by batch at the end of a banking day or monthly provided always that prior and reasonable notice is given to their customers.
 
    For the above guidelines, please visit ABM website Third Party Site Link.


    Dated: 16 January 2014




BNM Financial Fraud Alert: Don’t be a Victim, Protect Yourself.

Financial Fraud Alert, an avenue set up by Bank Negara Malaysia (BNM) to enhance public awareness on the dangers of falling prey to illegal financial schemes by providing access to vital information on these schemes. BNM also provided a list (Consumer Alert List) of companies and websites which are neither authorized nor approved under the relevant laws and regulations administered by BNM to alert the members of the public to exercise better care when making decisions in relation to the various financial services offered by these entities.

Members of the public are advised to alert BNM on any illegal or suspicious activities or entities at:

Call: 1-300-88-5465 (LINK) (toll free number) or
E-mail to bnmtelelink@bnm.gov.my

BNMLINK (Walk-in Centre)
Ground Floor, D Block,
Bank Negara Malaysia,
Jalan Dato' Onn
50480 Kuala Lumpur
Fax: 03-2174 1515


J.P. Morgan encourages you to be alert and do not fall victim to any telephone or email banking scam. If you would like more information on the BNM Financial Fraud Alert, please visit the BNM website Third Party Site Link for details.




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