New regulations in the use of cheques and bank drafts

The Central Bank of Malta issued the new Directive No. 19 on new regulations in the use of cheques and bank drafts, which will come into force on 1st January 2022.

From 1st January 2022:

  • Cheques can only be issued for amounts over €20 (i.e. €20.01 or over).
  • Cheques cannot be endorsed in favour of third parties and will be marked as ‘only’, with no more ‘or order’ cheques. You can continue using your current stock of ‘or order’ cheques.
  • Cheques payable to an entity / company must be deposited in the respective entity / company account. These cheques cannot be encashed.
  • Cheques above €5,000 cannot be encashed. These cheques must be deposited in full in the payee’s account, or a joint account where the payee is one of the account holders.
  • If 6 cheques are dishonoured, due to insufficient funds or for any other reason where the cheque is considered invalid in the past 12 calendar months, the cheque payment option will be suspended for at least 2 years.

We would also like to take this opportunity to provide a refresh on the correct way to issue and receive cheques. When issuing a cheque, you must clearly write:

  • the date when the cheque is issued;
  • the amount to be paid in words and figures, which should match;
  • the name of the payee who is to receive the payment; and
  • your signature.

When accepting a cheque, you must endorse it by signing and writing your ID card number or passport number or an official identification document number on the back of the cheque. We would like to remind you that you may also use the myAPS internet and mobile banking and the APS debit card to carry out payments.

Kindly note the Bank’s General Terms & Conditions have been updated in line with these new regulations.

Should you wish to discuss further, please do not hesitate to contact us.


Address (Head Office): APS Bank, APS Centre, Tower Street, Birkirkara BKR 4012, Malta - Europe

Telephone: (+356) 21226644



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APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.