Cheques and Bank Drafts

Central Bank of Malta Directive 19: The Use of Cheques and Bank drafts 

As from 1st January 2022, a new directive issued by The Central Bank of Malta will come into force to ensure the safe and effective use of cheques and bank drafts (cheques).

What will change?

  • Cheques should be dated on the day they are issued;
  • Should a cheque be issued post-dated, such cheque will be honoured by the bank on the day of receipt, irrespective of the future date;
  • All cheques should be issued as 'Only' cheques meaning that cheques will only be payable to the named person on the cheque;
  • An individual receiving payment through cheque is obliged to endorse at the back before presenting it at the bank;
  • Cheques below or equal to €20 cannot be issued, and will be dishonoured if presented at the bank;
  • Cheques exceeding €5,000 which are payable to individuals should be deposited in the account of the person named on the cheque and cannot be encashed;
  • Cheques facilities will be discontinued for at least two years if, within one year, the client issues six cheques that could not be paid out; 
  • Cheques remain valid for six (6) months.
It is important that when issuing or receiving a cheque, you ensure that it contains all the necessary information and that it is correct. 


Changes in our Terms and Conditions

 We will be updating the following Terms and Conditions to reflect these changes:

How will it affect me?

We shall discontinue issuing "Or Order" cheques.  Any on "Or Order" cheques circulated after 1st January 2022 may only be payable to the recipient named by the drawer on the cheque. This means that cheques will only be encashed or credited to the person named on the cheque.

Using other means of payment

We would like to remind you that you can pay conveniently and securely: 

  • By using the BNF Debit and Credit Cards;
  • Make credit transfers or set direct debits through our Internet Banking and Mobile App; 

Specific Terms & Conditions for operating the BNF Salary Package_Effective from 1st January 2022

Specific Terms & Conditions for operating the BNF Students Package_Effective from 1st January 2022


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