Banker's Rights & Duties Quiz

What is the bank's right to charge for keeping an account and clearing cheques?

• Right to Honor Cheques

• Right to Commission/Service Charges

• Right to Set-Off

• Right to Interest

Under what condition can a bank set off amounts owed by a customer?

• If the customer has multiple accounts

• If the sum owed is certain and due

• If the sum owed is uncertain

• If the customer has a good credit score

What is the penalty for breaching the duty of secrecy under the Financial Services Act 2013?

• Imprisonment for a term not exceeding 3 years

• Fine not exceeding RM5 million

• Imprisonment for a term not exceeding 5 years or fine not exceeding RM10 million

• No penalty

In which case did the court rule that a bank must keep customer information confidential?

• Rahimah Bte Abdullah v Bank Bumiputra Malaysia Berhad

• Tournier v National Provincial and Union Bank of England Ltd

• Robertson v Canadian Imperial Bank of Commerce

• Wong Yeng Mun V CIMB Bank Berhad

What must a bank do upon receiving a Garnishee Order?

• Ignore the order

• Freeze the account of the customer to the extent stated in the order

• Transfer the funds to the court

• Notify the customer immediately