BNM Urges Banks To Reduce Cost Of Handling Cash And Cheques
BNM is urging the banking industry to undertake effective measures to reduce the cost of handling cash and cheques used for credit card and loan repayments.
We get behind the process behind clearing a cheque to find out exactly how it works, and why it can take so long even in the world of instant technology.
BNM is urging the banking industry to undertake effective measures to reduce the cost of handling cash and cheques used for credit card and loan repayments.
Effective January 2, 2015, cheque transactions will be charged 50 sen per cheque, as opposed to 15 sen previously. How will this affect businesses and the general public?