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

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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.
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This post has been edited by Justmua: Jul 3 2008, 06:07 PM
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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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.
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