Jun 20 2011, 11:03 AM
QUOTE(acbc @ Jun 18 2011, 04:02 PM)
I have 3 company accounts with Maybank (all are enterprise) and M2U is free. Only if company is S/B, u need to pay RM 100 per month. Since my new company is a S/B, I will share u a trick to save money.
Assuming all 4 accounts in the same branch, u simply write a cheque from the S/B account and do a house cheque clearance (manually at the counter). The money will transfer from S/B to enterprise account after 5pm same day.
Now, with money in the enterprise A/C, u login as per usual and pay bills, salaries and etc...
Been doing this for years and not a single problem. Only thing is u need to keep records.
That's not a good accounting advice. Be aware that the IRB would be very curious as to why you are doing so. You can always apply for current account which is not link to internet so that the charges are not high. Keywords here (may not be applicable though) are transfer pricing/related parties transaction/anti-money laundering act/etc.Assuming all 4 accounts in the same branch, u simply write a cheque from the S/B account and do a house cheque clearance (manually at the counter). The money will transfer from S/B to enterprise account after 5pm same day.
Now, with money in the enterprise A/C, u login as per usual and pay bills, salaries and etc...
Been doing this for years and not a single problem. Only thing is u need to keep records.
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