The main question now is, did this person who claimed to had accidently transferred the RM1057.72 to your account actually bought something for you ? Or this RM1057.72 is actually a payment for a service rendered by you ? Because right now the person who reports to Hong Leong Bank is saying the money was never meant for you and he transferred the money into your account by accident right ?

So is this money really meant for you ? Otherwise yes, if the person claims he transferred the money to the wrong account (yes, such mistake does happen) and you couldn’t explain if this money really belongs to you, I suppose he does have a right to claim the money back. But of course it won’t be easy for him too and it takes time to verify it is a genuine claim and all.

Enjoy Zero Fee Instant Transfers through OCBC Mobile Banking. Valid until 30th June 2018.

The news came directly from BNM last year. To start on 1st Jul this year, not after.

A smart politician won’t do that because it leaves trails. But this is also why BNM is so keen on this electronic payment and electronic transfer initiative. So they can spot it there is any possible money laundering, corruption or even tax evasion.

HSBC, Standard Chartered and Hong Leong Bank are up to 50k/day. If I’m not mistaken, Public Bank is up to 50k/day too with security device.

This post has been edited by MilesAndMore: May 30 2018, 11:04 PM

AmBank is up to RM50k/day too. But any transaction of RM10,000 and above needs authorisation using AmBank Secure app.

Another fun fact. During those days when maximum online IBG limit per day was only RM5,000, HSBC maximum online IBG limit was already at RM40,000.

By the way, I just made an instant transfer through AmOnline. It is free.

Actually instant transfer via Hong Leong Connect has been free since last year. I had done quite some instant transfer via HL Connect a few times over the last few months and I had never to paid a single cent.

Indeed. The previous promotion that was supposed to end by 30th June started in conjunction with the launch of the refreshed HL Connect app in July last year. The waiver came up to RMxx million only in IBG/instant transfer fee and can end earlier once the fee waiver allocation for that promotion dries up.

This promo is indeed better as under the new BNM guideline, banks are supposed to waive the interbank transfer fee for transfer of amount up to 5k only per day.

Yes. Maybank is still charging for IBG.

This post has been edited by MilesAndMore: Jul 3 2018, 09:44 AM

BNM requires all banks to offer free instant transfer for amount up to RM5,000 per transfer to encourage people to use online transfer. Some banks decided its best not to impose a maximum limit per transaction as people will just get around it by doing multiple transfers to the same account. All banks already comply with BNM directive by offering fee-free transfer. Some banks offer better deals than what’s required by BNM and that is fine.

OCBC is now sending SMS notification for any inward remittance including instant transfer and MEPS GIRO. This is new though. An email is also sent to your registered email. The SMS notification is a welcome change. Previously only Public Bank and Hong Leong Bank send out such SMS notification for inward remittance.

Probably HLB doesn’t send out SMS notification for DuitNow. Currently I have not registered for DuitNow for any bank yet. And yes, the SMS notification for inward remittance I’ve received so far from HLB was for IBFT too.

It is cash deposit where you need to make some declaration, source of funds, purpose of funds etc.

Definitely great for people chasing after higher fresh funds FD rate at other banks.

Can be solved by changing to Public Bank stand-alone security device. They are still issuing the security device right ? I wanted to get it last year but didn’t as they had ran out of stock at the Public Bank branch I visited. Was told to come back the following week as stocks were on the way but I had left the country then and have so far continues to use SMS OTP.

I’m wondering the same. So far I’ve not seen any merchants displaying DuitNow QR or signage saying they accept it.

Did you key-in your Public Bank Hire Purchase account in the correct format ? After the 10-digit account number, you also need to include the 5-digit file number.

Hopefully they will get rid of the fee altogether so they can only compete on service to lure people into using a particular bank. Otherwise, hopefully the smaller banks will forge an alliance so ATM cash withdrawals from partner banks will be fee-free.

HSBC doesn't waive it either. But now their internet banking instant transfer limit is up to RM200,000/day. Probably the highest of any banks in Malaysia.

As far as i know, yes.