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RichLock
01-06-2009, 01:03 AM
Do any learned blogger here can shed some light as to the components of account number we were given when we open a savings account with a local bank? To what I understand, the first 6 digits usually represent the name of the bank, state and branch while the digits following that will be the clientís account number. This may be true with foreign banks but I donít know whether our local banks follow this system. Can someone clarify please?

chewie
01-06-2009, 11:20 AM
reason why u want to know ?

first 3 digit, bank branch code. then followed by account number

RichLock
01-06-2009, 11:40 AM
A tt from Australia was rejected by Public Bank because the sender wrote the first 6 digits as bank code. However, when he sent the tt to Maybank in the same format a few times previously, there were no problem. That's why I am curious whether all the banks are following the one format or each has their own code.

Sentinel
01-06-2009, 02:09 PM
You should ask for swift code from the bank for TT, its your own fault.

mykern
01-06-2009, 04:58 PM
Agree with you I do, Master Sentinel.
When ever you send or receive funds from overseas, there is an additional SWIFT code. This code is to enable the SWIFT system to route to the correct country and bank. Then the receiving bank must verify the code before they process the remittance.
So ... maybe the Bank from Australia input the account no in the SWIFT cope area .... not the first time and won't be the last ..
Anyway, the australian bank shoudl have detected the incorrect code used.
Public Bank will credit your account and debit the corresponding bank (australian bank) account, to knock off the credit.
With the millions of such txns ... errors are not permitted.

Khap!~

Sentinel
01-06-2009, 05:06 PM
Sad... Australian and NZ banks are not known to be very efficient compared to counterparts from other countries. Just 2 weeks ago, a couple went home to China with AUD$2.4 million wrongly creditted into their accounts... case still pending.

RichLock
01-06-2009, 05:40 PM
You should ask for swift code from the bank for TT, its your own fault.
The SWIFT code was entered and so was the branch address but PBB still went ahead to reject the TT. The reason given to me was the sender should have written the account as a ten digit number and not split into two components (the bank code and the account number).

Sentinel
01-06-2009, 05:45 PM
The SWIFT code was entered and so was the branch address but PBB still went ahead to reject the TT. The reason given to me was the sender should have written the account as a ten digit number and not split into two components (the bank code and the account number).PBB won the best-managed commercial bank lah... I guess its either they are awarded for being good (meaning making life tough for you!) or being bad (making life tough for you too!) Maybe, it is the kingdom of the blind....

ahbitchew
02-06-2009, 12:38 AM
[QUOTE=RichLock]A tt from Australia was rejected by Public Bank because the sender wrote the first 6 digits as bank code. However, when he sent the tt to Maybank in the same format a few times previously, there were no problem. QUOTE]

My brother once TT money to my hong leong bank account and the money was sent back, the reason was that the money was sent to Standard Chartered Bank Malaysia and SCB can't transfer the foreign currency to Hong Leong Bank due to Bank Negara rulings. So at the advice of HLB I have to get my brother to TT again and this time to HLB counter party in Malaysia ie ANZ bank, at this time ANZ are able to transfer to money to my HLB account.

My guess is that the money from Australia was TT to a counter party in Malaysia which is not connected to Public Bank but connected to Maybank, so that is why you are able to get the money in Maybank.

And till now I can't comprehend why SCB can't transfer the foreign currency to my foreign currency account in HLBB, and worst still why an individual can only maintain foreign currency account in only ONE bank in Malaysia ?

RichLock
02-06-2009, 11:11 AM
The banks in Australia have their agents in Malaysia or where ever to transfer money to a Malaysian bank. The Aussie banks don't deal direct with the local banks. I suspect this agent could be eBay or Western Union or our neighbourhood money changers!

mykern
02-06-2009, 07:43 PM
[QUOTE=RichLock]And till now I can't comprehend why SCB can't transfer the foreign currency to my foreign currency account in HLBB, and worst still why an individual can only maintain foreign currency account in only ONE bank in Malaysia ?

Why don't you ask HLBB whether they can (or will) transfer to SCBMB?
Any work done (if they do it) attracts fees .... whosa gonna pay for 'em? You? The Bank will definitely take a cut!~