According to the directions from the Central Bank of Myanmar, KBZ Bank customers are required to use the new design MICR cheques and POs from 1st June 2021. The old cheques and POs should no longer be used. Customers can go to their home branch (where they opened their bank account) to exchange old cheques and POs for new ones, free of charge, until 4th June 2021.
A Central Bank of Myanmar charge of 2,000 Ks will be effective for customers who use old cheques or POs between June 1st and June 4th, and this charge will increase to 3,000 Ks after June 7th. This charge will be automatically applied when you write a cheque or PO from the old cheque or PO books.
Customers are able to differentiate the old and new cheques by checking for the newly added UIC bar across the middle of the back of the new cheques.
Please note: KBZ Bank has been issuing the new MICR cheques and POs since December 2nd, 2020.