I just wondering all different banks offer different kinds of fund transfer services. Most common that all banks provide are GIRO and RENTAS. What's the different between both GIRO and RENTAS service?

How much is the maximum fund can be transfer?
How much is the service charge of both service?
How long would it takes for the fund to process to transfer from Bank A to Bank B?

Can anyone explain for me? Thanks alot.

For GIRO,

It's RM 2 per transaction and could take up to 3 working days to be cleared.

I only know RENTAS, which today transfer, next day afternoon surely got money already.

which bank got offer RENTAS? i tried MBB and HSBC, never seemed to find RENTAS

I googled. RHB has it.

Just now i went to my hometown Maybank branch. All the RENTAS transaction must done before 3p.m. Before 3p.m. You can get your fund arrive to another bank on the same working day. If over 3p.m, you fund will be available the next working day. Total cost RM9.00 per transaction.

other banks which does not have this service cannot accept payment?

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Added on April 29, 2009, 2:19 pmlol.... RENTAS must be done Over The Counter? RM9 is not cheap....

This post has been edited by nothingz: Apr 29 2009, 02:19 PM

Goodnes ... RM 9 vs RM 2 (waiting up to 3 working days)

RENTAS - RM9.00 - today / tomorrow afternoon to arrive another bank.
GIRO - RM2.00 - 3 working days.

Depends on yourself. If not so urgent. Use GIRO. Cheaper.

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Added on April 29, 2009, 2:25 pmThe RM9.00 is only for Maybank. I heard that different banks different charges. CIMB - RM 4.00 per transaction for RENTAS.

This post has been edited by Pan84: Apr 29 2009, 02:25 PM

Personally i like the "Jalan Kaki" way. Most major banks have branches close to each other in major locations. Just walk into one, withdraw from atm, and use the cash deposit machine in the other one. Instant and free.

Too risky if bank in too much money.

Giro and Rentas (especially Rentas) is the one to let people to transfer large significant amount when they first come out time.

somemore not necessary that all banks are group in a same area

wow, nvr hear abt rentas n today 1st time came across it.

Let me share my experience abt GIRO.

GIRO allows all local based interbank fund transfer via ATM or internet banking.

Usually you transfer in the morning or before afternoon from bank A to bank B and bank B shall able to receive it after 11pm on the same day.
Different bank different charges for this service. Overall applies a charge of Rm2 per transaction. CIMB cost RM0.50 for the 1st 5 transactions


PBB to other banks
Same day clearance - Transfer before 12noon
Receive before - it subjects to the recipient bank's policy. Some bank like MBB would able to receive it after 2pm. HSBC, RHB, CIMB and other would be after 9pm-11pm
Limit: U may transfer up to 3k daily or uplift yr limit to maximum 5k daily

MBB to other banks
Same day clearance - Transfer before 12noon
Receive before - it subjects to the recipient bank's policy. Some bank like MBB would able to receive it after 2pm. HSBC, RHB, CIMB and other would be after 9pm-11pm
Limit: U may transfer up to 3k daily or uplift yr limit to maximum 5k daily

CIMB to other bank
Same day clearance - Transfer before 12noon
Receive before - it subjects to the recipient bank's policy. Some bank like MBB would able to receive it after 2pm. HSBC, RHB, CIMB and other would be after 9pm-11pm
Limit: not sure


SCBB to other banks
Same day clearance - Transfer before 12noon
Receive before - it subjects to the recipient bank's policy. Some bank like MBB would able to receive it after 2pm. HSBC, RHB, CIMB and other would be after 9pm-11pm
Limit: Only 3k daily (and the limit even included your same bank account transfer limit)

HSBC
Same day clearance - Transfer before 11am
Receive before - it subjects to the recipient bank's policy. Some bank like MBB would able to receive it after 2pm. HSBC, RHB, CIMB and other would be after 9pm-11pm
Limit: Yippie... You can request to uplift your limit up to 60k if im not wrong

ya redraw $ is too risky nowdays ...alot of robbery ... better pay the $ rather then been robbed

yes, absolutely agree with u... the Rm2 is worth more than yr life and u need no drive all the way to the bank.

HASSLE FREE

Actually certain banks have lowered the handling fee from RM2 to just RM0.50 per successful transaction such as Standard Chartered, OCBC, Maybank (first 2 IBG in a month for Maybank Basic Savings Account), Citibank and a few more. Each transfer is capped at RM9999 if i'm not mistaken.

As far as i am concerned, only HSBC and Public Bank continue to charge RM2 per successful IBG transfer.


As for MEPS IBG, if you transfer the money before 11.30am, you will get the money the latest by evening on the same day. The example i have seen myself is a fund transferred from OCBC to Standard Chartered.

This post has been edited by MilesAndMore: Apr 29 2009, 08:16 PM

tx honey for the informing.. ya, take note abt the scbb... but the mbb izit kawanku can have the 50cent rate as well?

Abt the scbb, i couldnt uplift the limit above 5k. gheez... u manage to do so?

If i'm not mistaken, RM0.50 for every successful IBG ransfer is applied to Maybank Kawanku savings account holder. As for Maybank basic savings account holder, only the first 2 IBG in a month will be charged RM0.50. RM2.00 will be charged from the 3rd IBG done in a month onwards.


Opps. I think the RM9999 (RM10000) capped per IBG transfer belongs to HSBC or other bank. Can't remember where i saw the capped amount already. Standard Chartered's one is indeed RM5000 but you can actually increase the amount by calling them.

Correction to your statement, if you have a Basic Saving Account at any commercial banks in Malaysia, you'll be enjoying first 2 IBG in a month will be charged RM0.50. RM2.00 will be charged from the 3rd IBG done in a month onwards.

This is regulated by BNM.

I am using CIMB Savings Account and I never gotten charged @ RM0.50 before for my IBG transfers o.O?

Is this a new regulation?

Hrm, really? but why my account still charge at rm2 for the 1st transaction of every mth?

Not a new regulation. Every bank will charge you either RM0.50 or RM2 per successful IBG transfer.


Yours probably is not a "basic savings account". Certain banks will charge only RM0.50 while others charge RM2 such as HSBC and Public Bank.

i tried to call but they sed no

a lot of bank at least i know for RHB , their own staff dont even know about Basic account 1st 2 Giro transaction for basic account is only $0.50.

From the staff who served me previously, she said the system still charge RM2. after i asked to double check. ha.. come out the result. That's 50 cents. then asked to refund me for the extra.

Hello, want to ask some info from you guys.

What is the cheapest way/bank to send SGD from Malaysia to Singapore (Standard Charted)? I have always used TT via CIMB, which is very expensive cost me RM 10 + SGD 20 for the transaction (Charged by CIMB (Singapore). Any banks which offer better/cheaper rate?

Thanks!

Nowadays theres an IBFT service using just your ATM via MEPS. It mostly involves local banks, such as CIMB, Maybank, Agrobank etc... The service charge is RM1 and the transfer is done immediately during the transaction. It can be done via ATM machines of participating banks. The limit of transaction is the ATM transaction limit of your account/bank.

How did you check? call the bank branch and ask?
Mine is basic saving account too.. still charging RM2 for first 2 times

Most probably via UOB or OCBC.

How much are they charging?

I only agreed your partly statement. You can transfer your fund to other bank via GIRO service through several channels. We can transfer our fund to others bank in Malaysia via 3 methods. ATM, Internet Banking, and OTC(over the counter). ATM and Internet Banking allowed us to transfer up to MYR5K per transaction per day. And that's the limit through self-service. While you done your transaction via OTC, there's is not limited. The only limit is depends how much credits in your account. Last year I did transferred OTC about MYR50K via GIRO from Bank A to Bank B. They only charged me RM2.00 and takes 3 days for clearance.

Not entirely true. I just check my HSBC online again and it shows that i can transfer a maximum of RM10,000 per day to another account in other bank (MEPS IBG).


But if i'm not mistaken, i think some banks do impose a limit on each MEPS IBG transfer. There is no limit on how much you can transfer in a day over the counter but i think there is indeed a limit on how much each transaction can be, say RM10000/IBG. I think i saw this somewhere a few weeks ago. Which bank did you transfer your RM50k using MEPS IBG to another bank and being charged only RM2 ?

Try doing that with 50,000 ....

Maybank GIRO

Checked with Maybank. It seems that they are charging a flat rate of RM2 for MEPS IBG done over the counter regardless of the amount of money. Anyway, i managed to find out the bank that has a capped per MEPS IBG transfer. It is Standard Chartered Bank. Each MEPS IBG done at Standard Chartered is RM0.50 and it is capped at RM9,999 per transaction.


Not sure. It was a wild guess. I just assume they will be cheaper since both are Singaporean banks. Anyway, i have a friend studying in Singapore now and his mom always wire money over to his OCBC Singapore bank account from either Maybank or HSBC. Will ask him how much is the charges.

This post has been edited by MilesAndMore: Apr 30 2009, 08:12 PM

ya you are rite... but hsbc can uplift your limit up to 60k if im not wrong as i did it before. instant approval

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Added on May 2, 2009, 5:01 pmotc is what you did over the counter and that was referring to internet banking transfer

This post has been edited by princess_autumn87: May 2 2009, 05:01 PM

Look properly on title writen. INTERBANK TRANSFER. NOT INTERNET BANKING TRANSFER. You can use any channel as you like as long as you can transfer your fund from BANK A TO BANK B.

Ops sorry, but otc does have the risk as you now the current society now

If the incident happen just like what you said, one word - UNLUCKY.
By the way, banking system can trace who made the transactions. I meant trace which counter teller made the transaction.

i was doing the IBG through the counter. i ask the staff to confirm with their head quarter (i'm from east m'sia).
and i told the staff if dont believe me.. go to check your own website and BNM website. (scared her).

If you got online banking service, you will see that you only got charge for $0.50. but limited to $5k transaction only. if need more than 5k. u need to go to bank counter.

This post has been edited by truth_seeker_09: May 4 2009, 08:33 AM

i am using maybank savings account to giro interbank transfer and they still charge RM2. Anyway when you edit the limit for maybank there is a choice of Rm0, does that means it is unlimited ?

guys. i use maybank2u transfer fund to other bank.
what would be shown in the transaction history?
is it written there debit advice and the amount?

Anyone done a HSBC Interbank fund transfer (MEPS GIRO) recently?

They no longer seem to be charging the 2 ringgit fee, but it's still listed in their Tariff and Charges document on their website.

How to check whether my MBB is basic savings account or not?

I'm charged RM2 for each transaction =.=

This post has been edited by den: Sep 2 2009, 01:56 AM

May I know if there is a possibility to increase our GIRO daily limit?

Different bank practice a different policy. HSBC for instance, allows you to increase your daily online IBG GIRO limit to a maximum of RM40,000/day. This request has to be done over the branch. Most other banks on the other hand, allow you a maximum daily online IBG limit of only RM5,000 and it can't be increased any further.

I think MBB can go up to 10K if not mistaken

Still RM 5k:

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts

hi i wanna ask,

If i transfer over the bank counter rm50k is it still rm2 charge for Maybank giro?

Daily limit is RM 10k.

If do IBG over the counter should have no limit.

Is this true for SCB? Can someone verify?

You may discuss on everything IBG related stuff on the pinned thread.