|
New: BNM Foreign Exchange Policy Declaration Form completion guide
|
|
|
With reference to Bank Negara Malaysia (BNM) Foreign Exchange Policy (FEP) Annual Attestation, click here for the Declaration Form and its completion guide. |
| |
|
MYR Payments Processing Requirements
|
|
|
For MYR payments remitted by a Non-Resident Remitter1 via SWIFT MT103, J.P. Morgan Access® or Host-to-Host, and settled through Appointed Overseas Office2 of J.P. Morgan Malaysia, please follow the attached Payment Formatting Guide with the List of Institutional Sectors.
Note:
1 Non-Resident Remitter means (a) any person other than a resident; (b) an overseas branch, a subsidiary, regional office, sales office or representative office of a resident company; (c)Embassies, Consulates, High Commissions, supranational or international organizations; or (d) a Malaysian citizen who has obtained permanent resident status of a country or territory outside Malaysia and is residing outside Malaysia. For the avoidance of doubt, this includes Malaysian Embassies, Consulates and High Commissions.
2 The list of Appointed Overseas Office of J.P. Morgan Malaysia is available on BNM's website
|
| |
|
BNM ESS List of Institutional Sector Codes
|
|
|
With reference to Bank Negara Malaysia (BNM) External Sector Statistics (ESS) System reporting, click here for the updated list of Institutional Sector codes. |
| |
|
Cheque Clearing
|
|
|
Cheque(s) received before the cut-off time will be posted to
your account on the same day. The fund will be available post cheque-clearance process on the next
working day provided the cheque is not returned.
|
|
|
|
|
| Cheque(s) deposited before |
Transaction Posting
|
Funds Availability
|
| Monday – Friday (excluding public holiday), 4.00 PM
|
Same business day, by close of day |
Next business day, by close of day |
|
| |
|
BNM ESS Purpose Codes and Definition
|
|
|
With reference to Bank Negara Malaysia (BNM) External Sector Statistics
(ESS) System reporting, the updated list of Purpose Codes and Definition is available here |
| |
|
Interbank GIRO (IBG) Cut-Off Time Update [ Effective 8
December 2014 ] |
|
|
|
|
|
All IBG payments can be made conveniently and securely via online banking services at only 10 sen
per transaction.
|
|
|
|
The maximum payment limit is set at MYR 1,000,000 per transaction. |
|
| Payment
Initiated by Customers |
*Funds
Received by Beneficiaries |
|
Business Days
(Mon – Fri) |
Before 5:00 am |
Same business day |
By 11:00 am |
| 5:01 am to 8:00 am |
By 2:00 pm |
| 8:01 am to 11:00 am |
By 5:00 pm |
| 11:01 am to 2:00 pm |
By 8:20 pm |
| 2:01 pm to 5:00 pm |
By 11:00 pm |
| After 5:00 pm |
Next business day |
By 11:00 am |
Non-Business Days
(Saturday, Sunday and
Federal Territory Public
Holidays) |
Next business day |
By 11:00 am |
|
|
* Under normal circumstances
|
|
|
|
• |
Applicable for all IBG payments and funds transfer to current
accounts & savings
|
|
|
accounts. |
|
|
|
|
• |
If a remitting customer initiates an IBG transaction today up to
and including 5.00pm ,
|
|
|
the remitting customer will receive the returned funds on the
*next business day by
|
|
|
11.00am. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dated: 15 December 2014 |
|
BNM Disclosure Requirement
|
|
|
Bank Negara Malaysia (BNM) has informed all banking institutions on the
implementation of the disclosure requirements
|
|
for e-payment services and fees on 1 Oct 2014. |
| |
|
Our interest remains aligned with BNM on the e-payment initiatives and
transparency on the services that we provide.
|
| |
|
Kindly refer to Information
Disclosure on E-payment Services and Check Services for the information disclosed. |
| |
|
Zeus Malware Alert!
|
|
|
It has been reported that a malware known as the Zeus virus may cause
members of the public, who regularly perform
|
|
e-banking on their desktop/mobile phones/tablets, to be vulnerable to
financial data theft.
|
| |
|
Bank Negara Malaysia (BNM) has requested all member banks of
Association of Banks in Malaysia (ABM) to alert our
|
|
clients by including Malaysia Computer Emergency Response Team
(MyCert)’s advice onto our website.
|
| |
|
For advice and more information, kindly refer to MyCert
website  . |
| |
|
Increase in Base Lending Rate (BLR)
|
|
|
With effect from 1 August 2014, the BLR will be revised to 6.65% per
annum due to Bank Negara Malaysia (BNM)
|
|
Monetary Policy Committee’s recent decision on 10 July 2014 to increase
the Overnight Policy Rate to 3.25%
|
|
per annum. Kindly refer to BNM Press Release Ref. No. 07/14/05 at BNM website . |
| |
|
Existing floating rate of monthly installments of housing
loans/financing facilities which are priced against the
|
|
BLR will be automatically updated and will come into effect on 1 August
2014.
|
|
Updated Payment Reference Standards
|
|
|
Payments can be easily identified for Interbank GIRO (IBG) fund
transfers by internet.
|
|
The main aim is to facilitate reconciliation on the part of the
recipient. Sender is now
|
|
required to provide additional details relating to the fund transfer
under:
|
|
|
|
• |
“Recipient Reference”, which is compulsory; and, |
|
|
|
• |
“Other Payment Details”, which is optional. |
|
These details, together with the sender’s name will appear on the online
and/or hard-
|
|
copy version of the recipient’s bank account statement. |
Guidelines with Regard to Cheque Processing Fee Issued by The Association of Banks in
Malaysia
|
1. |
Charging of the cheque processing fee |
|
1.1 |
With effect from 2 January 2015, a 50 sen cheque processing fee will be
charged whenever
a cheque is received by a bank for processing, whether for encashment over the counter or for
depositing into an account.
|
| |
|
1.2 |
The cheque processing fee will be in addition to the stamp duty
collected by the bank.
|
| |
|
2. |
Party to bear the cheque processing fee |
|
|
The fee is to be charged to the drawer or issuer of the cheque or his account. |
| |
|
3. |
Banker’s cheque/bank draft/cashier’s order |
|
|
In the case of a banker’s cheque/bank draft/cashier’s order, i.e. a cheque issued
by a bank, the applicant of the banker’s cheque/bank draft/cashier’s order will have to pay the
cheque
processing fee at the time of application. The cheque processing fee will be in addition to the
stamp duty and commission collected by the bank.
|
| |
|
4. |
Cheque returned unpaid |
|
4.1 |
Generally, if a cheque is returned unpaid, the cheque processing fee
will not be refunded and will still be charged.
|
| |
|
4.2 |
This would include the case of a post dated cheque which is being
presented by the beneficiary before the date of the cheque. The drawer or issuer will still be
charged the cheque processing fee.
|
| |
|
4.3 |
However the cheque processing fee will be refunded if the cheque is
returned unpaid due to an omission or error made by the bank concerned e.g. in the case where a good
cheque is wrongly returned by the bank.
|
| |
|
5. |
Re-presentation |
|
|
The drawer or issuer will be charged with the processing fee again when the cheque is
represented or each time the cheque is re-presented, if it happens more than once.
|
| |
|
6. |
Regularity of collection of the cheque processing fee |
|
|
Banks will have the discretion of determining when the cheque processing fee will be
collected, be it on a cheque by cheque basis or by batch at the end of a banking day or monthly
provided always that prior and reasonable notice is given to their customers.
|
| |
For the above guidelines, please visit ABM website .
Dated: 16 January 2014
BNM Financial Fraud Alert: Don’t be a Victim, Protect Yourself.
Financial Fraud Alert, an avenue set up by Bank Negara Malaysia (BNM) to enhance public awareness on the
dangers of falling prey to illegal financial schemes by providing access to vital information on these
schemes. BNM also provided a list (Consumer Alert List) of companies and websites which are neither
authorized nor approved under the relevant laws and regulations administered by BNM to alert the members
of the public to exercise better care when making decisions in relation to the various financial
services offered by these entities.
Members of the public are advised to alert BNM on any illegal or suspicious activities or entities at:
Call: 1-300-88-5465 (LINK) (toll free number) or
E-mail to [email protected]
BNMLINK (Walk-in Centre)
Ground Floor, D Block,
Bank Negara Malaysia,
Jalan Dato' Onn
50480 Kuala Lumpur
Fax: 03-2174 1515
J.P. Morgan encourages you to be alert and do not fall victim to any telephone or email banking scam. If
you would like more information on the BNM Financial Fraud Alert, please visit the BNM website for details.
