Cheque fee rise 'disconcerting'

PETALING JAYA: The processing fee for cheques from 15 sen to 50 sen – a 230% increase – is a “penalty adding to the unnecessary cost of doing business”, said the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).

In a statement, the ACCIM said it found the increase “disconcerting”, adding that over 95% of enterprises in the country were small and medium-sized enterprises (SMEs) which relied on traditional cheques for their transactions.