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Can a Malaysia ringgit cheque deposit in singpore Bank??

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h2o
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Can a Malaysia ringgit cheque deposit in singpore Bank??

Postby h2o » Mon, 04 Jul 2005 6:50 pm

I had a Malaysia ringgit cheque (cross cheque), but i couldnt bank into my account. i had try UOB, OCBC, DBS, Maybank and ect.. They suggest me to go malaysia and open an account.

My friend had check for me, he mention tat for singaporean, we need to work at there in order to open an acc at there. A letter of the company is needed as a prove. but im not working there, So is there any other way or suggest in dealing this matter?

steve

Postby steve » Wed, 06 Jul 2005 12:39 pm

Hi, am going through the same problem with a Thai cheque. No bank will accept it.
Reasoning is they cannot clarify the works to figures as they are in a foreign language.
Suggestions are, ask for cash or alternatively get them to do a TT to your account. absorb their bank charges of S$20.00 and everybody should be happy.

Basically its a language barrier that causes the problems,

Steve

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bizcatalyst
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Malaysia Cheque

Postby bizcatalyst » Fri, 08 Jul 2005 7:22 pm

I think you need an introducer to open a bank account in Malaysia. You do not need to be employed. Also, you need to have a mailing address in Malaysia.
This information is not verified. You should hop across to JB to check it out. I know for a fact that Malaysian banks will accept Singapore address as Mailing Address.

Cheers.

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Everyone has taken position, ready to commence business as Unusual ............and all pigs are fed, ready to fly.

yoongf
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Postby yoongf » Sat, 09 Jul 2005 10:11 am

Msia cheques are not accepted in Sg because of the ringgit currency controls, which basically means that ringgit is worthless outside Msia.

Can go to JB UOB branch just in front of the customs to open an "External Acct", which is meant for non residents. Don't need any kind of introducer, and can use Sg mailing address. But I don't tink opening an acct just to clear 1 cheque is worth the hassle, since the bank counter operations there don't operate as efficiently as those in Sg.

If it's only 1 cheque, perhaps find a trusted fren who have an existing msian bank account to clear it, and reimburse u.

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Postby CNA » Mon, 11 Jul 2005 2:24 pm

if you're gonna be receiving MYR cheques frequently, go to Maybank JB or anywhere in MYS and open an account.

Thereafter, you could always deposit the MYR cheques with Maybank Singapore and they'll clear it for you
Random Walk

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Postby molchew » Tue, 12 Jul 2005 9:58 am

yoongf wrote:Msia cheques are not accepted in Sg because of the ringgit currency controls, which basically means that ringgit is worthless outside Msia.

Can go to JB UOB branch just in front of the customs to open an "External Acct", which is meant for non residents. Don't need any kind of introducer, and can use Sg mailing address. But I don't tink opening an acct just to clear 1 cheque is worth the hassle, since the bank counter operations there don't operate as efficiently as those in Sg.

If it's only 1 cheque, perhaps find a trusted fren who have an existing msian bank account to clear it, and reimburse u.


Its a crossed cheque....

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Postby crystal7 » Tue, 15 Sep 2009 1:29 am

hi,
can someone advise me, which MayBank branch is nearest to JB customs (from Woodlands checkpoint).
thanks in advance.

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Postby tth1311 » Wed, 16 Sep 2009 12:16 am

I have a cheque in USD issued by OCBC, can I bank into DBS, UOB or Maybank?

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Postby Strong Eagle » Wed, 16 Sep 2009 7:15 am

tth1311 wrote:I have a cheque in USD issued by OCBC, can I bank into DBS, UOB or Maybank?


Yes... it will be converted to the currency of the deposited account at the exchange rate on the day of conversion. And the banks are real slow about these kind of checques.

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Postby QRM » Wed, 16 Sep 2009 8:48 am

Strong Eagle wrote:
tth1311 wrote:I have a cheque in USD issued by OCBC, can I bank into DBS, UOB or Maybank?


Yes... it will be converted to the currency of the deposited account at the exchange rate on the day of conversion. And the banks are real slow about these kind of checques.


Really really slow! they estimate 4-6 weeks to clear, I cant see why in this modern day and age. Just another scam to sit on the dosh to earn interest and not pay it to the customer.

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Postby Strong Eagle » Wed, 16 Sep 2009 2:18 pm

QRM wrote:
Strong Eagle wrote:
tth1311 wrote:I have a cheque in USD issued by OCBC, can I bank into DBS, UOB or Maybank?


Yes... it will be converted to the currency of the deposited account at the exchange rate on the day of conversion. And the banks are real slow about these kind of checques.


Really really slow! they estimate 4-6 weeks to clear, I cant see why in this modern day and age. Just another scam to sit on the dosh to earn interest and not pay it to the customer.


If it was issued out of a US dollar denominated account here in Singapore it shouldn't take that long. Otherwise you are absolutely correct. Checks issued on a US bank take at least 4 to 6 weeks to clear. They ship the physical check to the US, where it is cleared, and then clearance advice is mailed back to your bank.


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