KUALA LUMPUR (May 10): Payments Network Malaysia Sdn Bhd (PayNet) said all of its payment systems and services will operate normally during the current holiday period until Sunday.

These include its shared ATM network, Interbank GIRO, Instant Transfer, and cheque clearing system, it said in a press statement today.

Generally, any instant transfer initiated from banks' internet and mobile banking channels will be processed and credited immediately into the beneficiary's account, it said.

And in accordance with banks' existing cheque clearing timelines, cheques deposited into banks' cash deposit machines after 4pm on May 8 (Tuesday) until 4pm on May 14 (Monday) will generally be cleared on May 14.

Funds will then be credited into the beneficiary's account on the next day (May 15).

PayNet is jointly owned by its single largest shareholder Bank Negara Malaysia (BNM), and 11 Malaysian banks.

The banks are Malayan Banking Bhd (Maybank), RHB Bank Bhd, Public Bank Bhd, CIMB Bank Bhd, AmBank (M) Bhd, Hong Leong Bank Bhd, Affin Bank Bhd, Alliance Bank Malaysia Bhd, Bank Islam Malaysia Bhd, Bank Muamalat Malaysia Bhd and Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat).

Following the announcement by the Chief Secretary to the Government Tan Sri Dr Ali Hamsa early today, BNM has declared public holidays today and tomorrow in conjunction with the 14th general election yesterday.