Malaysia Payment Systems

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In the next few weeks, we will concentrate on the information of Charge Cards, Credit Cards, Debit Cards and Prepaid Cards of American Express, Diners Club International, JCB (Japan Credit Bureau), Master,and Visa.

Beside that, we will also touch the information of ATM cards and ATM Debit cards of GIRO, HOUse and MEPS.

Before we begin, we would like to tell you briefly the payment systems in Malaysia.

Cash $$

Cash is the most popular payment systems not only in Malaysia, but worldwide as well. When you buy a cane of drink or pay for a LRT ticket or even you donate a few ringgit, you uses your cash. So, cash is the most important payment system in Malaysia.

Cheque/Check

Cheque is another payment system popular for business transaction or any business related. But some of you may uses cheque as payment method for newspaper or magazine subscription, pay insurance, pay tax or send money for friends.

System Barter

This is a medium or system which goods or services are directly exchanged for other goods and/or services without the use of money or cash. This seems to be very rare and limited uses in Malaysia. But in some countries, there are a kinds of website to let their users exchange the things they needs with the things they want to exchange through the system barter, and this is very popular.

Payment Card System

There are a lots of payment cards, such as Credit Cards, Debit Cards, Charge Cards, Prepaid Cards and ATM-Debit Cards issued by American Express (Amex), Diners Club International, JCB (Japan Credit Bureau), Master, Malaysian ElectronicPayment System (MEPS), and Visa.

Malaysia e-Debit ATM Cards Issuer (Banks)

e-Debit ATM (MEPS)
Affin Bank
Agro Bank
Alliance Bank
AmBank
Bank Islam
Bank Rakyat
CIMB Bank
EON Bank Group
Hong Leong Bank
Maybank
Bank Muamalat
Public Bank
RHB Bank

Malaysia Charge Cards Issuer (Banks and Non-Banks)

Charge Cards Issuer

Al Rajhi Bank
Diners Club
HSBC Bank
iSynergy (Only for Coporate)
MayBank
MBF Cards
Public Bank
United Overseas Bank

Malaysia Credit Cards Issuer (Banks and Non-Banks)

Credit Cards Issuer

AEON Credit Service (M) Berhad
Affin Bank Berhad
Alliance Bank Malaysia Berhad
AmBank (M) Berhad
AmIslamic Bank Berhad
Bank Islam Malaysia Berhad
Bank Kerjasama Rakyat Malaysia Berhad
Bank Simpanan Nasional
CIMB Bank Berhad
CIMB Islamic Bank Berhad
Citibank Berhad
EON Bank Berhad
Hong Leong Bank Berhad
HSBC Bank Malaysia Berhad
HSBC Amanah Malaysia Berhad
Malayan Banking Berhad
Maybank Islamic Berhad
MBF Cards (M’sia) Sdn. Bhd.
OCBC Bank (Malaysia) Berhad
Public Bank Berhad
RHB Bank Berhad
Standard Chartered Bank Malaysia Berhad
Synergy Cards Sdn Bhd (Only for Corporate)
United Overseas Bank (Malaysia) Berhad

Malaysia Debit and Prepaid Cards Issuer (Banks)

Debit And Prepaid Cards Issuer

Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
Affin Bank Berhad
Alliance Bank Malaysia Berhad
AmBank (M) Berhad
Bank Simpanan Nasional
Citibank Berhad
EON Bank Berhad
Malayan Banking Berhad
Maybank Islamic Berhad
Public Bank Berhad
RHB Bank Berhad
TuneMoney Sdn. Bhd. (Cards issued by CIMB Bank Berhad)
United Overseas Bank (Malaysia) Berhad

Tomorrow we will begin to talk about the issuer Banks of American Express informations

Identifying Counterfeit Banknote

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One of the way of saving money is not to receive counterfeit banknotes ( ‘fake money’ ). Because you cannot use it otherwise you will be in prison. So today we will tell you how to identify the counterfeit banknote.

What is Counterfeit Banknote?

Counterfeit banknotes are reproduction of the real banknotes using materials of low quality but appear similar to the genuine with intent to deceive member of the public.

Counterfeit banknotes have no value but it is possible that they may be used and may escape detection for some time.Thus, protect yourself and always check your banknotes when you receive them.

Detecting a Counterfeit Banknote

All counterfeits of modern banknotes can be recognized without too much difficulty. The differences can be seen upon closer examination by applying the “FEEL , LOOK, TILT and CHECK” Principle.

Counterfeit Detection: Feel

Security Features Genuine Counterfeit
Feel the quality of paper The genuine banknote is usually printed on very high quality paper and manufactured from cotton. It has a unique feel, crisp sound and slightly rough in the heavily printed areas. The paper used for making the counterfeit notes appears to be poor quality,most common commercial type of paper.
Feel the Intaglio Printing The intaglio print is a raised printing effect produced by applying layers of tactile inks on various parts of the front and reverse sides of the notes The counterfeit banknote does not have feeling the raised printing.

Counterfeit Detection: Look

Security Features Genuine Counterfeit
Look at the banknote and hold it up to the light The genuine banknote carry a watermark portrait, security thread and perfect see through features . A watermark portrait of Yang DiPertuan Agong has three dimensional effect and appears soft and shady without sharp outlines portrait. At the base of watermark a denomination number is clearly visible. 

The security thread will always looked embedded in the paper. The hibiscus flower on the obverse will register perfectly with the same flower on the reverse of the banknote.

 The watermark in the counterfeit is not visible. If any, it can be appears like a drawing. 

The security thread is simulated and rather blurs, and can be easily scrapped off.

The see through features does not perfectly registered with the pattern on the reverse side of the banknote.
Look under magnifying glass You can see micro lettering on observe and reverse sides of all banknotes. The lettering on a genuine banknote should be sharp and not blurred. The micro lettering of the words ‘BANKNEGARA MALAYSIA’, ‘BNM’ and banknotes denomination i.e. RM1, RM5, RM10, RM50 and RM100 on the banknote are not present, only dots are printed to simulate this features.
Look ultra-violet light Invisible fluorescent elements representing various elements of the background on the obverse and reverse will fluoresce in different colours. Various elements are captured under UV light such as invisible fibres and phosphorescence square. Under UV light the invisible fibres and phosphorescence square are completely missing in the counterfeit note. The paper of the counterfeit is UV bright, meaning that it glows more than genuine banknote paper.

Counterfeit Detection: Tilt

LEAD feature (incorporated in RM10, RM50 and RM100)  

You can see the iridescent stripe shines under a bright light and showing the banknote denomination and the name of BNM when the view angle is shifted.

 Lead feature is very difficult to counterfeit. Normally the shines of the LEAD cannot be seen. Some counterfeiters will attempt to simulate it by using a plain shiny foil.
PEAK feature  

When changing the angle of view by shifting the banknote, a hidden image of denomination number i.e. 50 will be revealed in the centre of the PEAK square.

 There is no latent image of denomination in the PEAK feature or some simulation of image has been attempted.

Counterfeit Detection: Check

Security Features

Various security features have been incorporated into the Malaysia Ringgit banknote. It is important for you to be aware of some of these security features and be able to distinguish between genuine and counterfeit notes which are completely worthless.

Level Examination Security Features
Level I : Public Human Sense
  • Watermark Portrait
  • Security Thread
  • LEAD Feature
  • PEAK Feature
  • Perfect See Through
  • Intaglio Print
Level II : Cash Handler Human Sense & Equipments
  • All the first level features
  • Security Fiber
  • Fluorescent Elements
  • Micro Lettering
  • Fluorescent Square

What Do You Do If You Receive a Counterfeit Banknote?

 

Notify the police immediately if you have received counterfeit banknotes. Using or returning counterfeit banknotes is just as illegal as manufacturing it. Counterfeit banknotes are not eligible for replacement!

Follow these steps

  • Delay the person (passer) who gives you the counterfeit banknotes if possible and observe the passer’s description, as well as that of his/her companion if any, and the license numbers of any vehicles used by them
  • Do not write on, cut or re-circulate the counterfeit currency
  • Handle the currency as little as possible (e.g. you can put it in an envelope or plastic cover). Record on a separate sheet of paper all the details about how you got the currency, who gave it to you, where and when you got it
  • Take the counterfeit currency to the nearest police station and surrender the counterfeit currency to them after lodging a police report

Penal Code
Section 489 Penal Code (Offence Relating to Currency Matter)

Subject Type of Offence Whether the police may ordinarily arrest without warrant or not Penalty imposed
489A Forging or counterfeiting currency notes or banknotes May arrest without warrant Imprisonment for 20 years 

and fine
489B Using as genuine forged or counterfeiting currency or banknotes - do - Imprisonment for 20 years 

and fine
489C Possession of forged or counterfeiting currency notes or banknotes - do - Imprisonment for 10 years
489D Making or possession of instrument or materials for forging or counterfeiting currency notes or banknotes - do - Imprisonment for 20 years 

and fine

We hope after reading our today information, you can easily identify the counterfeit banknote and in case you received it, you know how to handle it.

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