I want to start off by saying Im a full time Medical Officer/Doctor working in KKM Malaysia, however my interest is in the world of finance and computer programming/software development. Im sort of like a grey/white hat freelancer.

I was previously working/collaborating/freelancing some small projects for Samsung, but recently LG approached me and proposed to me, to run a small project for them, but the issue is they are from the U.S.

Long story short, I did the small project, ran it successfully, now they sent me a small check for accommodation. My question is, how do I deposit this cheque/check? Do malaysian banks accept these kinds of checks/cheques?

Tq.

yes, they can do clearance for you, but you need to perform via counter, not cheques deposit machine.

Shld be okay but need to process at the counter as mentioned by @jack2.

Cheque deposit is not very big issues actually...

Just go the bank counter & done with it...

The biggest issues next is your foreign income....
Banks might ask... Also probably LHDN too...

And since u full time with KKM... There could be some issues too... Because u got paper trail $$$...

Others gomen staff might does side work / business... It's mostly cash basis... So no paper trail $$$.... Kinda safe from those agencies & banks....

Never mind la.. he can come and consult from me on tax matters.

Foreign cheques will incur a cheque clearing fee usually a little higher than local cheques (used to be free but I’m not sure if that’s still the case in Malaysia).

LHDN is a different matter - I would just declare it under “others” and pay the taxes accordingly

I went to a few banks, they say they are not accepting foreign cheques/checks at the moment.

which banks?

i see from the picture it is JP Morgan. Perhaps you can call the branch in Malaysia to enquire: https://www.jpmorgan.com/MY/en/about-us

Here’s another idea for TS. Why don’t you come to Singapore and open an account here? Even Harimau Bank accepts USD cheques here.

Updates :
I have called JP Morgan Chase and Bank of America malaysian branch, they say they dont deal with these kind of stuff, they only deal with investments.

and Dont have the time to travel to a foreign country just to deposit a small amount check/cheque. Dont forget Im a full time doctor and already running a few part time projects myself.

can't see the number... what is the amount? if a few hundred, forget about it...

if bigger, just walk into your local bank like cimb or hl and ask the branch manager to help clear the check. it takes a few weeks to months...

i had done it once many many many years ago, and the headache was the name on the check is obviously different from my IC name (due to silly surname/family name and first name arrangement).

good luck.

Last time I went to Maybank and they do have. Even HSCB pun ada, they just send the cheque to clear.

I think the branches you went, malas to entertain you.

Why dont you tell the cheque issuer to use TT instead. It is very common now.

It is 6500+ over USD

Sorry to hear that.
I think since local bank wont accept, better complaint/enquire through BNM https://www.bnm.gov.my/consumer-info/complaints to get better advice
6.5k usd = rm30k is not small for me

BNM won’t be bothered about it 🤦‍♀️ as foreign currency transactions is subject to individual bank discretions

i was checking on the same as i am anticipating a possibility of receiving USD in cheque form.

i found RHB Multi Currency Account able to accept foreign checks per link below. have not checked with the branch yet though.

https://www.rhbgroup.com/files/personal/mul...account-faq.pdf

From Celsius? 🤭

where got so fast, just received the email yesterday..LOL

Fyi to both, HLBB can accept FCC at counter, subject to branch to accept if you have their MCF (multi-currency acc) enabled. According to the call, no fees charged other than (if any) branch-related fees

This post has been edited by ken431256: Apr 15 2024, 12:43 AM

Maybank will process USD cheques, BUT it is only worth it if your cheque is above $20.