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 About banker's cheque

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MUM
post Dec 27 2020, 01:38 AM

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QUOTE(AmySC @ Dec 27 2020, 12:09 AM)
I see...

Anyone can help in explain to me what is cashiers's order?Is it same as banker cheque?And can i bank in it via cheque deposit machine at maybank?
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interesting question...i googled and found this interesting writes up from CIMB MY about them both too...

https://www.cimbbank.com.my/en/personal/ban...ers-cheque.html

http://cimb-bizchannel.com.my/index.php?ch...nces%20products.





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mini orchard
post Dec 27 2020, 06:41 AM

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QUOTE(AmySC @ Dec 27 2020, 12:09 AM)
I see...

Anyone can help in explain to me what is cashiers's order?Is it same as banker cheque?And can i bank in it via cheque deposit machine at maybank?
*
Cashiers' Order and Bankers' are the same.

Is like any normal cheque but issued by banks.

You can deposit at any bank that you have an account through the machine.
AmySC P
post Dec 27 2020, 08:30 AM

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QUOTE(mini orchard @ Dec 27 2020, 06:41 AM)
Cashiers' Order and Bankers' are the same.

Is like any normal cheque but issued by banks.

You can deposit at any bank that you have an account through the machine.
*
Thank you so much for thr prompt reply.

I deposited it on 24/12/2020 thru MBB cheque deposit machine and noticed it might bounced cause not via counter.

.When i called up the customer service,different officers provided different answers and some not even know what is Cashiers' Order.
Called the bank issuance of d Cashiers' Order-OCBC,the officer told me must deposit at counter only in other banks.Very confusing answer...

AmySC P
post Dec 27 2020, 09:27 AM

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QUOTE(MUM @ Dec 27 2020, 01:38 AM)
interesting question...i googled and found this interesting writes up from CIMB MY about them both too...

https://www.cimbbank.com.my/en/personal/ban...ers-cheque.html

http://cimb-bizchannel.com.my/index.php?ch...nces%20products.
*
Thanks for the info...as per my info,foreign banks called Cashiers' Order n local banks named it as Banker Cheque.Just wonder is it ok if bank in likes normal cheque via machine n not counter,d Cashiers' Order is in RM,local currency.

SUSyklooi
post Dec 27 2020, 09:39 AM

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QUOTE(AmySC @ Dec 27 2020, 09:27 AM)
Thanks for the info...as per my info,foreign banks called Cashiers' Order n local banks named it as Banker Cheque.Just wonder is it ok if bank in likes normal cheque via machine n not counter,d Cashiers' Order is in RM,local currency.
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Just 2 months ago, my spouse went to mbb to cash out Fd at the counter, my spouse did not hv a saving a/c at mbb so cannot do ibg. Hv to get a banker cheque issued to PBB.
Queqed for 1hr outside the bank, finally allowed to enter, then the counter staff told my spouse, "you can actually bank this into cdm... No need to queqe"

Cyclopes
post Dec 27 2020, 01:32 PM

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QUOTE(AmySC @ Dec 27 2020, 08:30 AM)
Thank you so much for thr prompt reply.

I deposited it on 24/12/2020 thru MBB cheque deposit machine and noticed it might bounced cause not via counter.

.When i called up the customer service,different officers provided different answers and some not even know what is Cashiers' Order.
Called the bank issuance of d Cashiers' Order-OCBC,the officer told me must deposit at counter only in other banks.Very confusing answer...
*
It can be deposited through CDM, but takes about 2/3 days to clear.
AmySC P
post Dec 27 2020, 03:55 PM

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QUOTE(yklooi @ Dec 27 2020, 09:39 AM)
Just 2 months ago, my spouse went to mbb to cash out Fd at the counter, my spouse did not hv a  saving a/c at mbb so cannot do ibg. Hv to get a banker cheque issued to PBB.
Queqed for 1hr outside the bank, finally allowed to enter, then the counter staff told my spouse, "you can actually bank this into cdm... No need to queqe"
*
Oh noted and thanks for sharing,meaning my cashier's order shud b able to clear via CDM.
SUSyklooi
post Dec 27 2020, 04:14 PM

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QUOTE(AmySC @ Dec 27 2020, 03:55 PM)
Oh noted and thanks for sharing,meaning my cashier's order shud b able to clear via CDM.
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Well, that is applicable to PBB, maybe it applies to certain branches, maybe it applicable for use during covid19 pandemic (mco), maybe not applicable to Maybank or not applicable to Yr cdm branches...
Anyway, I think should be OK, but since you had already deposited it... Just wait for them to call you if got problem or you can check the balance status of the a/c that the cashier's order to see if the money is in after a few days
mini orchard
post Dec 27 2020, 04:34 PM

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QUOTE(AmySC @ Dec 27 2020, 08:30 AM)
Thank you so much for thr prompt reply.

I deposited it on 24/12/2020 thru MBB cheque deposit machine and noticed it might bounced cause not via counter.

.When i called up the customer service,different officers provided different answers and some not even know what is Cashiers' Order.
Called the bank issuance of d Cashiers' Order-OCBC,the officer told me must deposit at counter only in other banks.Very confusing answer...
*
Depending on the time you deposit into tbe cdm. If is after the cut off time (depending on banks...some 2pm 3pm or 4pm) then is treat as bank in on 28 12 20 and money will credit into your account on 29 12 20 after office hours.

If is b4, then you get your money tomorrow after office hours.

Again some banks have different crediting hours.
AmySC P
post Dec 28 2020, 06:16 AM

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QUOTE(yklooi @ Dec 27 2020, 04:14 PM)
Well, that is applicable to PBB, maybe it applies to certain branches, maybe it applicable for use during covid19 pandemic (mco), maybe not applicable to Maybank or not applicable to Yr cdm branches...
Anyway, I think should be OK, but since you had already deposited it... Just wait for them to call you if got problem or you can check the balance status of the a/c that the cashier's order to see if the money is in after a few days
*
Noted and thanks again.Wil check whether d money is in tis few days.

AmySC P
post Dec 28 2020, 06:17 AM

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QUOTE(mini orchard @ Dec 27 2020, 04:34 PM)
Depending on the time you deposit into tbe cdm. If is after the cut off time (depending on banks...some 2pm  3pm or 4pm) then is treat as bank in on 28 12 20 and money will credit into your account on 29 12 20 after office hours.

If is b4, then you get your money tomorrow after office hours.

Again some banks have different crediting hours.
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Thanks again for the info,will monitor d accounts.

boo82
post Oct 30 2021, 11:08 PM

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Sifus, quick question.
My home renovation need to deposit 2k but only accept cheque or banks draft and i don't have current account. So only choice is bank draft.
Question: once i have gotten my bank draft and i send to my management office. The management will bank-in this draft to their account and issue me a new bank draft once reno is complete OR keep until my reno is complete and return back the bankers draft to me?
MUM
post Oct 30 2021, 11:13 PM

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QUOTE(boo82 @ Oct 30 2021, 11:08 PM)
Sifus, quick question.
My home renovation need to deposit 2k but only accept cheque or banks draft and i don't have current account. So only choice is bank draft.
Question: once i have gotten my bank draft and i send to my management office. The management will bank-in this draft to their account and issue me a new bank draft once reno is complete OR keep until my reno is complete and return back the bankers draft to me?
*
my guess is,...keep until your reno is completed and after they confirmed that you had cleared all rubbish as required and did not go against their renovation guidelines before they will return back the bankers draft to you

you should ask them (management office) for a sure confirmed answer

SUSxander83
post Oct 31 2021, 03:25 AM

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QUOTE(boo82 @ Oct 30 2021, 11:08 PM)
Sifus, quick question.
My home renovation need to deposit 2k but only accept cheque or banks draft and i don't have current account. So only choice is bank draft.
Question: once i have gotten my bank draft and i send to my management office. The management will bank-in this draft to their account and issue me a new bank draft once reno is complete OR keep until my reno is complete and return back the bankers draft to me?
*
Most likely return the draft as it is secured deposit

You better check with management office on the terms and conditions for confirmation
mini orchard
post Oct 31 2021, 06:08 AM

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QUOTE(boo82 @ Oct 30 2021, 11:08 PM)
Sifus, quick question.
My home renovation need to deposit 2k but only accept cheque or banks draft and i don't have current account. So only choice is bank draft.
Question: once i have gotten my bank draft and i send to my management office. The management will bank-in this draft to their account and issue me a new bank draft once reno is complete OR keep until my reno is complete and return back the bankers draft to me?
*
The reason for non cash deposit handling is for safety and accurate record purpose. It doesnt matter which type of cheque, more likely they will bank in if they want uniform procedure.

If is newly vp with many units doing reno, keeping the cheques and losing or misplacing it later can be troublesome.

This post has been edited by mini orchard: Oct 31 2021, 06:13 AM

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