Cheques and Bank Drafts

The Central Bank of Malta is issuing Directive No.19 which will come into force on 1st January, 2022. The Directive introduces regulations on the use of cheques and bank drafts. The following are the main measures that will take effect:

1. Cheques cannot be issued for amounts less than or equal to €20, though any such cheques issued prior to the 1 January 2022 will remain valid up to 6 months from date of issue.
2. It is only the payee (person whose name appears on the cheque) who may encash or deposit the cheque into own account. Endorsing of cheques in favour of persons other than the
   payee will not be permitted.
3. Cheques for amounts in excess of €5,000 may only be deposited into the account of the payee and cannot be withdrawn in cash.
4. Writing cheques with a date in the future will not be permitted.
5. Cheque book facilities will be withdrawn if within a period of 12 months up to 6 cheques cannot be honoured due to lack of funds, or any other reason which by the drawer’s action would have rendered the instrument as invalid.

 Further details may be found here