August 18, 2010

Bursa Malaysia e-share payment service

Bursa Malaysia has launched e-share payment service today that allows the share buyer to transmit money electronically to the stockbroker when they purchase shares/make payments or allow the stockbroker to auto-debit from the bank account. It also allows the stockbroker deposit share proceeds/profits into the buyer's bank account directly when the buyer sells the shares.

The service is provided FOC by the stockbrokers and you need to apply at the individual stockbroker. Basically, you need to fill in the form, and provide photocopy of NRIC and your bank statement/passbook. Original copies of NRIC and bank statement/passbook are required for verification purpose.

For more details about this new service, please visit here.

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