Certified cheque is a guarantee that can be used between individuals, businesses and the government departments instead of using cash. The Certified cheque can replace the risk of bringing a huge amount of cash and it can also be acted as a guarantee by the bank that there is a sufficient amount in the bank, thus, the businesses can be done trustfully.
- Must have a current deposit account if you want a certified cheque from the bank.
- Submit the cheque that is to be certified to the bank and to request the bank to deduct the amount written on the cheque and bank commission.
- The certified cheque is valid for (30) days.
- If expired, the certified cheque can be extended for another (30) days.
- The account holder can apply for the cancellation of the Certified Cheque.
- 5 pyas for every 100 kyats
- Minimum is 1,000 kyats
- Maximum is 5,000 kyats
- No service fees for extension of the certified cheque.