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 Instant Transfer (DuitNow) & Interbank Giro (IBG)

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TSMilesAndMore
post Aug 26 2011, 11:12 AM

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QUOTE(mumeichan @ Aug 26 2011, 06:42 AM)
Not really because RHB is my primary bank for alot of things and I don't have 'all the money' I get it every few months from a scholarship and send it when I get it. My savings is almost 0. Just happens normally RHB has the highest TT rates. So what I thought was when I need to TT the money, then I just bring to the bank with the lowest TT rate that day.
Well, then i guess you should only withdraw all in cash over the counter then and seriously, RM100,000 of cash is not exactly a lot. Always request for all RM100 notes and i'd recommend that you bring a bag and park your car near the bank.

TSMilesAndMore
post Aug 26 2011, 11:16 AM

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By the way, there is another option which is RENTAS. It is usually used only for big amount of money and money is made available on the same day. However, you must have an account at the bank you intend to make the transfer to, same goes to MEPS IBG.
TSMilesAndMore
post Aug 26 2011, 11:32 AM

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QUOTE(gerrardling @ Aug 26 2011, 11:21 AM)
for uob eaccount, is there any annual fee ?
No annual fee. Just that the minimum balance of this account is RM500. Not sure if this rule has changed or not.

TSMilesAndMore
post Sep 12 2011, 03:30 PM

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QUOTE(hotlink @ Sep 12 2011, 01:31 PM)
I had transfer from cimb on last Friday at 1pm to my PBB acc. So when I suppose to received the fund using IBG?

I read the transfer schedule, it stated that Funds available at beneficiary bank lastest by 9am on the next two business days from transaction date. Is it mean that I only can get it on Tuesday 9am?
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You did the transfer last Friday after the cut-off time. So you will only get it today anytime by now (up to midnight). But for Public Bank, you should get it by 6pm today.

TSMilesAndMore
post Sep 16 2011, 05:35 PM

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QUOTE(fahrur_07 @ Sep 16 2011, 08:57 AM)
why saving account is charge more for ibg giro compare to basic saving acc?
can BSA do online transaction?
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Just the way it is. BSA is a regulated product by BNM and must be offered to the public by all banks in Malaysia. And yes. BSA can do online transaction too smile.gif


QUOTE(jack2 @ Sep 16 2011, 02:06 PM)
I think so since it is no longer to have this option appears.
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Yeah. Service has been suspended indefinitely. There is a notice on the right right-hand side of Clicks' website.

TSMilesAndMore
post Sep 19 2011, 12:16 AM

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QUOTE(fahrur_07 @ Sep 18 2011, 05:57 PM)
by default when we open acc with any bank they will open SA rather than BSA rite?
Usually... yeah.

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post Sep 26 2011, 11:34 PM

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QUOTE(BboyDora @ Sep 26 2011, 10:35 PM)
Got question to ask.

I need to withdraw the money from my saving account and FD to buy a house from 3 different bank with RM 30k each (saving n FD)

1. Is it better for me to ask them to issue cheque( with additional charges)?
2. Or interbank transfer to 1 bank then from that bank transfer to the owner bank?

any advice?

thanks in advance.  rclxms.gif  rclxms.gif  notworthy.gif  notworthy.gif
There is a limit for IBG. Try to ask for RENTAS instead. Otherwise, banker's cheque is the best.

TSMilesAndMore
post Oct 27 2011, 09:59 PM

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QUOTE(sam240 @ Oct 27 2011, 02:08 PM)
Hi Guys,
I'm a little confuse and wanna confirm with your guys here:

I plan to pay my OCBC credit card which either transfer from CIMB online or PBB online (both are normal saving account):
1) which bank will charge more cheaper? is CIMB?
CIMB Bank's MEPS IBG is cheaper than Public Bank.


QUOTE(sam240 @ Oct 27 2011, 02:08 PM)
2) RM1 per transfer or RM0.50?
Depends on the type of your savings account. If your account is a basic savings account, then you will only be charged RM0.50 for the first two MEPS IBG done in a month and subsequent MEPS IBG in that same month will be charged RM1. For regular savings account, the fee is RM1/transfer. You can find out your savings account type by visiting any CIMB Bank branch or send them a secured message through your CIMBClicks.


QUOTE(sam240 @ Oct 27 2011, 02:08 PM)
3) what is the meaning RM0.50 charges for CIMB? In my this case, can I enjoy this lowest charges?
Refer to the reply above.


QUOTE(sam240 @ Oct 27 2011, 02:08 PM)
4) Is IBG same with Instant Transfer? What's the different?
The main difference is the fund availability in the receiving bank. For MEPS IBG, funds will be made available at the receiving bank by 12 midnight on the same banking day should you transfer the money out before the daily cut-off time which is between 11.30am - 12pm (varies by banks). If you do it after the cut-off time, funds will only be made available by 12 midnight on the next banking day.

As for instant transfer, the money will be transferred and credited immediately to the receiving bank account.


QUOTE(sam240 @ Oct 27 2011, 02:08 PM)
5) How many days the transaction will be done if I transfer from CIMB to OCBC? 2 working days or instantly?
Transferring fund to OCBC from CIMB through Instant Transfer is not an option because OCBC is still not yet supported under Instant Transfer. Your only choice is using MEPS IBG. Please refer to my reply #2 regarding how many days it takes to transfer the money from CIMB to OCBC.

This post has been edited by MilesAndMore: Oct 28 2011, 10:44 AM
TSMilesAndMore
post Dec 1 2011, 11:24 PM

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QUOTE(EvOKIdZ @ Dec 1 2011, 09:53 AM)
Savings Account
There are many types of savings account. Which type is yours ?

TSMilesAndMore
post Dec 6 2011, 10:14 AM

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QUOTE(EvOKIdZ @ Dec 5 2011, 02:30 PM)
how can i know what type is mine? i only c saving account when i login
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Walk into any of the nearest CIMB Bank branches or call their call centre.

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post Dec 19 2011, 11:40 AM

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QUOTE(EvOKIdZ @ Dec 19 2011, 11:37 AM)
Just want to ask if i open an account for HSBC in brunei, how much will be charge if i transfer to my friend HSBC account in Malaysia?
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You need to call your local HSBC branch in Brunei.

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post Dec 29 2011, 12:54 PM

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QUOTE(Sigint @ Dec 29 2011, 12:15 PM)
It is possible for interbank transaction process to fail midway even with the valid recipient's account holder name and all? Disregarding natural disaster and system failure that is.
As long as it says "successful", whatever happens next is not really of your concern already provided you have entered all the correct information.

By the way, in case there wasn't sufficient fund in your account when you tried to make the transfer, you'll get a message saying your transaction has been rejected or unsuccessful.


QUOTE(Sigint @ Dec 29 2011, 12:15 PM)
Wouldn't it be very dangerous for the recipient?  hmm.gif
Dangerous ? Please elaborate further.


TSMilesAndMore
post Dec 29 2011, 01:43 PM

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QUOTE(Sigint @ Dec 29 2011, 01:23 PM)
Dangerous as in if somehow the scenario I mentioned just happened, i.e. "interbank transaction process to fail midway even with the valid recipient's account holder name and all". Maybe due to bank error, screwup.

I'm asking this to verify the facts, heard some "stories" that despite the sender being having "successful" while doing the interbank transaction, it can somehow bounce the amount back and report an error during process. Wanted to know such thing even happen. Thus dangerous to the recipient's side being unaware the payment went through or failed.
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Highly unlikely unless the sender keyed in the wrong information. I do MEPS IBG at least 5 times a month (credit card bills) and have never experienced such issue. I've been using this online MEPS IBG since early last year.

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post Dec 30 2011, 01:46 AM

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QUOTE(ronnie @ Dec 30 2011, 12:03 AM)
Any recommendation on which is the cheapest cost method to transfer funds >RM50k from SCB ?
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Banker's Cheque is the cheapest one i believe.
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post Jan 1 2012, 12:09 PM

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QUOTE(oldman8088 @ Dec 31 2011, 06:58 PM)
No, withdraw CASH is the cheapest way  thumbup.gif
I used to carry more than 100k
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Suggested that to other people. All of them were not comfortable carrying such a big pile of cash though.
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post Jan 16 2012, 11:05 PM

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QUOTE(cenkudu @ Jan 16 2012, 10:34 PM)
I have few questions indirectly to IBG:
Well, what you asked indeed have nothing to do with IBG. Anyway...


QUOTE(cenkudu @ Jan 16 2012, 10:34 PM)
-I heard it is difficult to open Citibank even basic savings account. In case we have credit card with them, is it become more easier?
It's kind of true. The chance of your application to open a savings account with them is higher provided you are already working and having a credit card with them would be a plus. Basically, you will be asked to sign on a signature card and they will help you to key in all relevant information such as name, address, work place, profession etc. and they shall get back in the next few days to you whether or not your application to open a savings account with them is successful. If it's successful, they will mail the VISA debit card to your correspondence address and you are required to deposit some money into the account asap.


QUOTE(cenkudu @ Jan 16 2012, 10:34 PM)
-I have other types of savings account with Maybank, is it possible to open another basic savings account?
Not too sure about Maybank but it's definitely not a problem with Public Bank and CIMB Bank.

This post has been edited by MilesAndMore: Jan 16 2012, 11:06 PM
TSMilesAndMore
post Jan 17 2012, 04:22 PM

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QUOTE(cenkudu @ Jan 17 2012, 01:27 PM)
Thank you for your response, open basic savings account with citibank this morning. as usual their officer push for other type of account which requires more deposit :-)
Did they give you an answer whether or not your application to open a savings account is rejected or you were asked to wait too ?


QUOTE(cenkudu @ Jan 17 2012, 01:27 PM)
and yet they themselves are not aware about the IBG charges, which she told me RM 2 per transaction
As usual, bank employees don't even know their own bank's products doh.gif
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post Jan 18 2012, 12:59 AM

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QUOTE(cenkudu @ Jan 18 2012, 12:04 AM)
oh my application to open the basic savings account was approved straight away but I bring along my payslip and employment letter which I never done before to open any savings account  biggrin.gif your advice yesterday has help me a lot. plus i have credit card with them. the visa debit card also I got on the spot
I guess your payslip and employment letter did the trick biggrin.gif Last time i was like shakehead.gif when they said i must give them my employment details and will only get back to me once they have verified everything. It wasn't like i was applying for their personal loan or credit card then doh.gif
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post Jan 19 2012, 01:22 PM

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QUOTE(dawho @ Jan 19 2012, 12:30 PM)
hi sorry for this noob question guy....wanna ask how to bank in online  throught cimb clicks..??in the main page which menu should i choose...the schedule transaction or transfer fund??
What do you mean by "bank in online through CIMBClicks" ? Do you mean you want to transfer money out to another bank through your CIMB Bank account via online banking ?

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post Jan 19 2012, 01:58 PM

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QUOTE(dawho @ Jan 19 2012, 01:26 PM)
yes...transfer to another CIMB account..do in need to go the the transfer fund menu?
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Yes. Transfer Menu > 3rd party transfer > key-in all required details and amount.


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