ABM reminds public on cheque processing fee from Apr 1

KUALA LUMPUR: The Association of Banks in Malaysia (ABM) has reminded the public that commercial banks will charge a cheque processing fee of 50 sen on the issuer or drawer of a cheque effective April 1, 2014. 

"ABM and our member banks are in full support of the national agenda for the migration to electronic payment (e-payment) and would like to encourage members of the public to adopt e-payment which is a fast, affordable and convenient method of transferring funds and making payments," it said.