Is it possible to make a placement over the counter via cheque and do uplifting the next day? If yes, this would be awesome as some foreign bank has 2 days float

Oh yeah, write a 100k cheque with RM 0 in account, walks away with 100k cash and let the cheque bounce.
Why I never thought of this?

that's going to land you in jail btw. lol. we aren't talking about a slap on the wrist. this is full on capital punishment

but the thing is, does the bank even allows it in the first place?

oh he'll no. this a crime. I forgot the technicalities but writing a fake cheque can and will land you in hot soup.

Is not a crime. You can write a cheque but say your bank account is zero = cheque bounce. Anyway I wouldn't do that. No point black list my name only.

This post has been edited by Ramjade: Nov 16 2016, 10:10 AM

are you sure 100k cheque can cash out ? many banks has limit of cheque cash out, if can do this, why don't you write a 1 million cheque on this for cash out ...

what is the point for this? a bounce cheque will get penalty for some amount....
this is like after eating, got nothing to do

in other countries it is a crime.

and have a look at this

http://m.malaysiakini.com/letters/33116

so if not a crime bila mau cuba hahaha i wan know

dont discuss publicly anything illegal or circumventing laws/policies

this. it is never rewarding when you try to cheat banks

No la, what I actually meant was, let say u have a large fund in Citibank. And you want to place that amount in e-GIA. If you write a Citibank cheque and deposit it into your MBB acc, it would take 2 days before the fund is available for u to place it. You are gonna lose 2 days of interest. Now assume u straight away open a GIA with that cheque over the counter. Is that possible? If yes, then the next question is for the GIA you place over the counter, can you do the upliftment via M2U?

quick analogy.

say you are selling an iPad online. would you dare to send the iPad to the seller if he posts a cheque to you claiming it will go through?

exactly why banks wouldn't do that.

putted some for short period and take out sucessfully.
1k able to produce 10sen per day. super low risk

This post has been edited by ktek: Nov 16 2016, 03:38 PM

Placement over the counter for GIA is definitely possible if you read the T&C:
http://www.maybank2u.com.my/WebBank/gia141016_tnc.pdf

"GIA campaign placements can be made over the counter (OTC) or via online platforms i.e. web or
M2u application. It is compulsory for customers to have either Deposit or investment account with
Maybank for profit payments"

The question is can you do placement by cheque? I have done that before for FD, cheque from other banks.

U can perform placement by cheq at otc ony

I think the question was if I send cheque to open the account can I open the account immediately? since someone said there will be a waste of two days.

When is the new rate out usually?

15 of every month.