Foreign cheque bank-in charges @ Malaysia banks

After getting the reward from Google AdSence, now the questions are how to bank in foreign cheque and which bank has the lowest charges for foreign cheque deposit.

First that I went to ask is Maybank, as this is my most active bank account, and they told Maybank charge RM20+, and USD15, for foreign cheque deposit. Which mean with 100USD cheque deposit, you will incur lost of USD20, which is RM70 sucked by the bank. I'm really shock about this. I'm decided not to do so, get the deposit bank in slip, and told them let me decide first.

After some investigation, these are the information I obtain:-

• Bank Muamalat: (03-2059 1211, 03-2059 1250) **
  RM5.
  Eg: Bank in USD100, Charges RM5

• CIMB: (1 300 880 900 )
  1% charge (min: RM5, max: RM100)
  Postage: RM5
  Stamp duty: RM0.15
  The 0.1% is only applicable if it is above USD 1000.
  USD15 clearing fee from bank issue.
  Eg: Bank in USD100, Charges RM10 + USD15
  Note: You can deposit your check to the home branch only. But, you can mail your check to your BCB account's home branch for bank-in.
  

• EON Bank: (03-26161313) **
  Commission : 0.03% of the cheque amount min – RM0.50 and max – RM500.00
  Eg: Bank in USD100, Charges RM10
  

• Hong Leong Bank: +603-76268899
  RM5,000 equivalent & below (Flat 0.03% per item (Min RM0.50 / Max RM500)
  Above RM5,000 equivalent (Flat 0.1% per item (Min RM5 / Max RM100)
  Eg: Bank in USD100, Charges: RM11.1
  

• HSBC: (1300 88 0181) **
  1% of cheque amount (min: RM10, max: RM100)
  Stamp duty - RM0.15 per cheque
  Other charges - below 10k = RM1.15
  Eg: Bank in USD100, Charges: RM11.3
  

• RHB: (03-9206 8118) **
  Postage: RM5.00
  Stamp Duty: RM0.15
  Commission: 0.1% of your cheque amount (minimum RM 10.00 and maximum RM 100.00)
  Eg: Bank in USD100, Charges RM15.5
  

• PublicBank: (1-800-88-3318)
  1% of cheque amount (min: RM20, max: RM100)
  Postage: RM5
  Stamp duty: RM0.15
  Eg: Bank in USD100, Charges: RM25
  

• Alliance bank: (1-300-88-0880, 03-5516 9988) **
  Alliance Bank and it charge RM30
  Eg: Bank in USD100, Charges RM30
  

• Standard Chartered: (1 300 888 888) **
  01% of cheque amount OR min RM 50.
  Eg: Bank in USD100, Charges RM50
  

• MayBank:: (1800-629 2265 )
  1% of the cheque amount drawn in RM with minimum of RM25.00 and maximum of RM100.00 Eg: Bank in USD100, Charges USD15 = RM53

** Information are source from the bank website, didn't call for clarification.

For CIMB, I called twice, one is call center and another branch office, they told me CIMB charges RM10, and additional of USD15 agent charges. After some research, some blogs mentioned agent charges only applicable to deposit amount > USD1000. This might also true, but I didn't call further for clarification.

Bravo to CIMB call center and branch office officer, both handle my problem/queries very well, actually they need further clarification (from other department or officer) , and they did call back to me for clarification.

I called Hong Leong Bank call center, they told me they can't assist for this, I need to call branch office. Hmmm..what kind of call center? Cannot provide me one stop solution? Actually I voice that out and hang up my phone...:)

After making some comparison on foreign cheque deposit charges, I decided to go for Hong Leong bank, as they mentioned they only charges RM11, and they have a branch office near my house area.

I don't have account on this bank, after making comparison their available account types, I'm decided to open HL Basic Deposit Account (although it has limited of 6 On The Counters, 8 ATMs withdraw restriction), but I don't think this impact me, as my purpose is just to deposit foreign cheque. :)

Ask of ATM card, they said customer need to pay RM8 annual charge for this. They told me this is standard bank charges. I doubt about this, so far I know my Maybank ATM card didn't charge me annual fee. I didn't apply for this, as I think no worth to pay RM8 annually.

Next, I want to apply online access, they told me I can't do that because I don't have ATM card. Don't you think this is funny to have online access, you will need to have ATM card?

My Public bank online access, without an ATM card!!!!!

I hope above foreign cheque information is helpful!