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> Cheque Truncation and Conversion System (CTCS), Which bank is implementing?

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dr2k3
post Jul 3 2008, 10:40 AM

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QUOTE(SKY 1809 @ Jul 3 2008, 10:38 AM)
Do you want to be in a position whereby you banked in a cheque and it takes 10 days to ( or not ) clear.

If you do, we welcome you.
*
im not that desperate with money...so as long as it can clear...ya why not tongue.gif
SKY 1809
post Jul 3 2008, 10:46 AM

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QUOTE(dr2k3 @ Jul 3 2008, 10:40 AM)
im not that desperate with money...so as long as it can clear...ya why not tongue.gif
*
If you are not desperate , you should not need the new system at all .

That is why , East Malaysia is last, bcos most people do not need the money.



dr2k3
post Jul 3 2008, 10:53 AM

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lol~ like that also can ><

how about broadband....we also last...that i very desperate ler tongue.gif
SKY 1809
post Jul 3 2008, 10:55 AM

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QUOTE(dr2k3 @ Jul 3 2008, 10:53 AM)
lol~ like that also can ><

how about broadband....we also last...that i very desperate ler tongue.gif
*
Better keep to the topic than OT.

No value added.

dr2k3
post Jul 3 2008, 10:57 AM

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lolololololol~ >< u buwee me ~_~

i tot should be not desperate than can test......those who desperate better not test....coz if got prob they no money use tongue.gif

This post has been edited by dr2k3: Jul 3 2008, 11:01 AM
cute_boboi
post Jul 3 2008, 11:55 AM

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QUOTE(neverlog @ Jul 2 2008, 08:37 PM)
hey guys,

I still have non-standard cheque which haven't not finish.

I heard that after 30 Jun 2008, everyone need to use new CTCS-compliant cheques.

Will my non-standard cheque get reject if I stil use it?
*
Go back to your cheque branch, return it, for each unused page, you'll get back RM0.15.

Then, request for new cheque book(s). Charges as usual.

Justmua
post Jul 3 2008, 03:30 PM

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As far as I know, there is no official word from BNM that says that non-CTCS cheques cannot be used. I have checked with MBB and this is what they told me and said I can still bank in non-CTCS compliant cheques. Banked in the non CTCS cheque today and will see if it clears.

Whether you wish to exchange the cheques or not depends on how many you have, when you expect to finish, etc....

BTW, the cheques are issued free by banks. We are just charged the stamp duty and delivery charges.

Update: Yeap... non CTCS cheque can still be used. My above-mentioned cheque is reflected in my account already.

QUOTE(cute_boboi @ Jul 3 2008, 11:55 AM)
Go back to your cheque branch, return it, for each unused page, you'll get back RM0.15.

Then, request for new cheque book(s). Charges as usual.
*
This post has been edited by Justmua: Jul 3 2008, 06:07 PM
SKY 1809
post Jul 3 2008, 03:53 PM

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I heard you cannot use a stamp to stamp the date and name of payee, otherwise void and returnable.
Justmua
post Jul 3 2008, 06:08 PM

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If I am not wrong, you can use the rubber stamp for date and payee's name. For corporate cheques, you do not need to put the company rubber stamp, as was customarily done previously.


QUOTE(SKY 1809 @ Jul 3 2008, 03:53 PM)
I heard you cannot use a stamp to stamp the date and name of payee, otherwise void and returnable.
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tinkerbel
post Jul 3 2008, 06:12 PM

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@dr2k3,
If it takes 20 days to clear ur salary cheque, U'll start getting desperate for the $ - it's not a good thing when cheques are taking this long to clear. U should read the thread about CIMB and their cheque clearance. We have people whose cheque was banked in early Jun and yet remains not cleared.
SKY 1809
post Jul 3 2008, 06:18 PM

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QUOTE(Justmua @ Jul 3 2008, 06:08 PM)
If I am not wrong, you can use the rubber stamp for date and payee's name. For corporate cheques, you do not need to put the company rubber stamp, as was customarily done previously.
*
I heard from the banker that the new system cannot read DATE AND PAYEE if there are used with an ink chop, instead of usual hand writings.

It is not the Q of whether accepting by the banks or not.

This post has been edited by SKY 1809: Jul 3 2008, 06:33 PM
Justmua
post Jul 3 2008, 06:47 PM

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I know people who are using rubber stamps for date & payee. No known problem.

I believe the cheques are scanned as image and no character recognization is involved. Only data captured is the MICR codes at the bottom of the cheques.

So, it doesn't make sense that rubber stamps cannot be used for date & payee!! Some bankers please confirm.


QUOTE(SKY 1809 @ Jul 3 2008, 06:18 PM)
I heard from the banker that the new system cannot read DATE AND PAYEE if there are used with an ink chop, instead of usual hand writings.

It is not the Q of whether accepting by the banks or not.
*
cryssyenddo
post Aug 17 2008, 04:58 PM

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@tinkerbel

Don't worry about that, it won't happen. If we've allowed that pass during our testings, you won't even heard of CTCS tongue.gif

So far as i know, the system isn't capable of delaying a check transaction that long biggrin.gif

This post has been edited by cryssyenddo: Aug 17 2008, 05:01 PM
wenjie86
post Aug 17 2008, 06:24 PM

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under this, new cheque already been given to all cheque holder.. most bank trying to collect back their old cheque..

this new cheque, will change the corporate cheque and personal cheque into the same size, style smile.gif


nanakopy87
post Aug 26 2009, 01:02 PM

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wana ask,can i still bank -in the old cheque after 1st september,if i receive the old style of cheque after 1st september?

 

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