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> Interbank Giro(IBG) & Interbank Fund Tranfer(IBFT)

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TSMilesAndMore
post Oct 23 2010, 01:00 AM, updated 2 months ago

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- Interbank Fund Transfer > normal IBG (online)
- Interbank Fund Transfer > instant IBFT [participating banks only] (online)
- Interbank Fund Transfer > normal IBG (Automated Teller Machine - ATM)
- Interbank Fund Transfer > instant IBFT (Automated Teller Machine - ATM)

QUOTE
Interbank Fund Transfer (normal IBG - ONLINE)
Interbank Fund Transfer (normal IBG - Automated Teller Machine - ATM)
The fee is charged at a flat rate of RM0.11 only for every transfer
QUOTE
Interbank Fund Transfer (IBFT Instant Fund Transfer - ONLINE)
The fee is charged at a flat rate of RM0.53 stating 1st June 2015 only for every transfer and money is credited into the receiving bank account instantly.

The participating banks are :
    * CIMB Bank
    * Hong Leong Bank
    * Maybank   
    * Public Bank     
    * RHB Bank   
    * Standard Chartered Bank    ##free until further notice
QUOTE
Interbank Fund Transfer (IBFT)(Automated Teller Machine - ATM)
The fee is charged at a flat rate of RM0.53 stating 1st June 2015 only for every transfer and money is credited into the receiving bank account instantly.

The participating banks are :
    * Agrobank
    * Alliance Bank
    * AmBank
    * Bank Rakyat
    * Bank Simpanan Nasional
    * CIMB Bank   
    * Hong Leong Bank
    * HSBC
    * Maybank
    * Public Bank 
    * RHB Bank



QUOTE
**Fees and Charges for local IBG prior to 2nd May 2013

Interbank Fund Transfer (online)

QUOTE
MAYBANK / MAYBANK ISLAMIC

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- All other account types > RM2/transfer


QUOTE
CIMB BANK / CIMB ISLAMIC

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM1/transfer thereafter

- All other account types > RM1/transfer

**for transfers done through instant transfer, RM2 will be charged for each transfer regardless of your account type


QUOTE
PUBLIC BANK / PUBLIC ISLAMIC BANK

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- All other account types > RM2/transfer


QUOTE
RHB BANK / RHB ISLAMIC BANK

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- All other account types > RM1.50/transfer via online, RM2/transfer if it is done over the counter


QUOTE
AMBANK / AMISLAMIC BANK

-- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- AmStar Extreme > 5 free online funds transfers, RM2/transfer thereafter

- All other account types > RM2/transfer


QUOTE
HONG LEONG BANK / HONG LEONG ISLAMIC BANK

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM1/transfer thereafter

- All other account types > RM1/transfer (**both normal MEPS IBG or Pay+)


QUOTE
EON BANK / EONCAP ISLAMIC BANK

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- All other account types > RM2/transfer

**for funds transfers using "transfer now" through EON Bank online, you'll be charged RM2/transfer


QUOTE
AFFIN BANK / AFFIN ISLAMIC BANK

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- All other account types > RM2/transfer


QUOTE
ALLIANCE BANK / ALLIANCE ISLAMIC BANK

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM1/transfer thereafter

- All other account types > RM1/transfer


QUOTE
HSBC / HSBC AMANAH

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- Premier > unlimited fee-free online funds transfers

- Advance > unlimited fee-free online funds transfers

- All other account types > RM2/transfer


QUOTE
OCBC / OCBC AL-AMIN

- Basic Savings Account, Basic Current Account, Basic Savings Account-i & Basic Current Account-i > RM0.50/transfer for the first 2 IBG every month, RM2/transfer thereafter

- iQ Basic > 5 free funds transfers every month, RM2/transfer thereafter

- iQ Elite > unlimited fee-free online funds transfers

- All other account types > RM2/transfer


QUOTE
STANDARD CHARTERED / STANDARD CHARTERED SAADIQ

- JustOne Current Account > unlimited fee-free online and ATM funds transfers provided you make a deposit of at least RM1,500 in a single transaction into your JustOne Current Account once a month. You also need to have an average balance of no less than RM1,000 between Jan-Jun & Jul-Dec or you'll be hit with RM10 account maintenance fee which will be automatically deducted from your account every half year.

- All account types > RM0.50/transfer


QUOTE
UOB BANK

- Basic Savings Account & Basic Current Account > RM0.50/transfer for the first 2 IBG every month, RM1/transfer thereafter

- eAcccount > 2 free funds transfers every month, RM0.80/transfer thereafter

- All other account types > RM1/transfer


QUOTE
CITIBANK

- All account types > RM0.50/transfer


QUOTE
Bank Mualamat

- All account types > RM1.50/transfer
This post has been edited by MilesAndMore: Jun 10 2015, 12:45 AM
TSMilesAndMore
post Oct 23 2010, 01:39 AM

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QUOTE(ronnie @ Oct 23 2010, 01:30 AM)
I suggest to add Interbank Giro (IBG) to the title when users search for word giro or ibg
Done

TSMilesAndMore
post Oct 23 2010, 01:55 AM

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QUOTE(chemistry @ Oct 23 2010, 01:41 AM)
It's so kind of you, Miles.
No problem smile.gif


QUOTE(ronnie @ Oct 23 2010, 01:43 AM)
My suggestion was to make the title "Interbank Funds Transfer/Interbank Giro (IBG)"
I figured it is unnecessary as it will just make the title too long and crowded. Besides, just type in "giro" or "ibg" in the search box, this thread will turn up in the search results still.


TSMilesAndMore
post Oct 23 2010, 10:51 PM

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QUOTE(ckk125 @ Oct 23 2010, 08:19 PM)
Hello,

I know this sounds stupid, but can i know if i can transfer $ from Bank islam(my account) to Maybank(seller)?

Thanks
You can do this over the counter at any Bank Islam branch or via your Bank Islam internet banking portal. For Basic Savings Account or Basic Current Account, the charge is RM0.50 only for all transfers regardless how many times you do it. Not sure about the regular savings/current account but most likely it is RM2/transfer. I can't find this information online.

By the way, i have not added the Interbank GIRO charges information for banks such as Bank Islam, Bank Rakyat, AGRO Bank, BSN, Bank Mualamat etc as i am not sure how much exactly they charge for each interbank funds transfers. If any of you know this, i'll appreciate if you can provide this information so i can update the first post.


QUOTE(ckk125 @ Oct 23 2010, 08:31 PM)
ATM...even if i have an account in bank islam also cannot?

Thanks..
Can't comment on Bank Islam but for many other local banks, you can perform an instant funds transfer to other bank account and you will be charged RM1 per transfer. The supported banks are very limited though.


QUOTE(ekestima @ Oct 23 2010, 09:38 PM)
So kinf of TS to solicit and consolidate all this useful information for us.  rclxms.gif  rclxms.gif
Glad you find this thread informative. It was Mr.Gen-X's idea to set up this thread smile.gif

This post has been edited by MilesAndMore: Oct 23 2010, 10:52 PM
TSMilesAndMore
post Oct 24 2010, 04:21 PM

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QUOTE(SeanChang @ Oct 24 2010, 01:28 PM)
MilesAndMore,
i think should add another method of IBG besides otc & online.
Which is ATM IBG, transfer fee RM1.
Done smile.gif

TSMilesAndMore
post Nov 17 2010, 02:19 PM

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QUOTE(JamesPond @ Nov 17 2010, 12:05 PM)
how to know my m2u is BSA?
If it's a regular savings account, if should be listed as SA in your M2U. If it is a Basic Savings Account, it should be listed as BSA.

TSMilesAndMore
post Nov 18 2010, 09:33 AM

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QUOTE(ronnie @ Nov 18 2010, 08:55 AM)
If a particular IBG transaction has failed due to incorrect/incomplete Beneficary Name, would the banks charged additional failure fee ?
You'll just loss the IBG fee that's been deducted from your account.

TSMilesAndMore
post Jan 22 2011, 11:00 AM

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QUOTE(alexlean @ Jan 22 2011, 10:31 AM)
hi, i am interested to get a BASIC SAVING ACCOUNT. wil hav any difficulty to open this? cos i heard tat some bank will not allow customer to open this account?
Nope. No difficulty to open this account at all. I had a few, as a matter of fact.

TSMilesAndMore
post Jan 22 2011, 11:35 AM

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QUOTE(erry- @ Jan 22 2011, 11:07 AM)
Bank Muamalat can IBG online, RM1.50/transfer.
Done smile.gif
TSMilesAndMore
post Jan 22 2011, 02:11 PM

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QUOTE(koh_424 @ Jan 22 2011, 01:24 PM)
It is true tat sum bank really not allow ppl to create BASIC SAVING ACCOUNT?? Lol..impossible rite? blink.gif  blink.gif

Mayb tat bank dun need money to operate  tongue.gif
No. It is not impossible. For example, i was once denied to open a Basic Savings Account at Alliance Bank before. Instead, they insisted that i open other types of savings account such as their regular savings account or the Hybrid account. Citibank is yet another bank that doesn't simply allow people to open a Basic Savings Account with them.

TSMilesAndMore
post May 25 2011, 09:18 PM

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QUOTE(amalthea @ May 24 2011, 12:27 PM)
i do IBG from maybank to citibank every month
but they still charge me RM2 instead of 50 cents even for the first time
does the from account type i.e. the bank account you are transffering from (savings/current) make any difference?
That's because you have a regular savings account at Maybank and not a basic savings account.


QUOTE(yourmagiccloset @ May 24 2011, 05:06 PM)
Is it true it is RM0.50 for 1st & 2nd IBG every month ? I'm also paying RM2 per transaction. Can't find any info stating MBB charge RM0.50 for 1st & 2nd time....
Yes and it is applicable only to basic savings and basic current account.

TSMilesAndMore
post May 29 2011, 08:27 AM

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QUOTE(whitemouse1314 @ May 29 2011, 04:10 AM)
Hi,

Hong Leong basic saving account enjoyed unlimited IBG transfer with only RM0.50 while other account type RM1

TS please kindly edit it

TQ!  smile.gif
But Hong Leong Bank website is suggesting otherwise. May be you can give us a screenshot of your account transaction history with all the sensitive information blacked out ? Or may be another link containing such information ?

TSMilesAndMore
post May 29 2011, 01:03 PM

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QUOTE(NelsonBoy @ May 29 2011, 12:45 PM)
CIMB iterbank transder to PBB RM1.00

takes 2-3days time.

anyone can confirm this ?
Depends on when did you transfer the money out. Money may be made available on the same day depends on the receiving bank.


QUOTE(NelsonBoy @ May 29 2011, 12:45 PM)
i did yest. they charged me rm1 instead of rm0.50

just perform once a month only.
They charged you RM1 because you are using a regular savings account.


TSMilesAndMore
post Jun 11 2011, 04:44 PM

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QUOTE(laowai @ Jun 2 2011, 11:41 AM)
Think the first post for Maybank fees are outdated.

Did a IBG GIRO few days ago, was charged RM2. No more 0.50 for first 2 transfers of the month

http://www.maybank2u.com.my/mbb_info/m2u/p...l/ACC-Accounts/
QUOTE(jerrykhor @ Jun 10 2011, 04:24 PM)
..below is the "recent" IBG from PBB to MBB.. smile.gif

user posted image

I don't normally use PBB (above is the transition from Apr to Jun), but always found it charge me RM2 for IBG, even the very 1st IBG.. blush.gif
Let's get one thing clear guys. The discounted rate of RM0.50/transfer for the first two transfers every month is applicable only to Basic Savings Account. For those who are charged the normal rate, it is because your account is NOT a Basic Savings Account. Hope this clears.


TSMilesAndMore
post Jul 28 2011, 01:15 AM

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QUOTE(trex1d @ Jul 28 2011, 01:04 AM)
hi, there's my friend transfer using ibg from maybank to my public bank account
he transfer at 21 july night but untill now i check i haven't received..
can i know how can i check the reference number?
i thought mostly it will only take 3 days maximum.. rclxub.gif
1. Your friend did not transfer the money
2. Your friend transferred the money to the wrong account

21 Jul was Thursday. Assume that your friend transferred the money to you using instant transfer via Public Bank online, you should have received the money right away. However, if your friend used the old IBG and transferred the money out after Public Bank's daily cut-off time, then you should receive the money before Friday midnight (22 Jul). I am very sure about this nod.gif

TSMilesAndMore
post Aug 5 2011, 01:45 AM

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QUOTE(unemployed @ Aug 4 2011, 08:25 PM)
can i use m2u to pay my public bank islam hire purchase monthly installment?
Yes. You can.


QUOTE(unemployed @ Aug 4 2011, 08:36 PM)
Hi, Anyone know can i use m2u to pay my HP installment of public bank islam? how long it take to reflect?
If you transfer the money out before 11.30am on a working day, the money will be credited into the account which it is sent on the same day. Otherwise, it will only be made available on the next working day in the evening.

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post Aug 10 2011, 08:30 PM

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Can anyone please confirm if CIMB Bank has discontinued their Instant Transfer service on CIMBClicks ?
TSMilesAndMore
post Aug 25 2011, 01:10 PM

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QUOTE(mumeichan @ Aug 25 2011, 09:53 AM)
I want to transfer from RHB bank to other bank because their exchange rate is too high. But the IBG limit it 5000/day. How to transfer more than 5000
Go to the counter to get cash or banker's cheque.

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post Aug 25 2011, 09:55 PM

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QUOTE(mumeichan @ Aug 25 2011, 08:33 PM)
Carrying so much cash in my hands from one bank to another is dangerous and banker's cheque takes too long to clear. The reason why I want to transfer is because some banks have better TT rate than others.
If you don't mind me asking, how much exactly do you intend to withdraw from RHB Bank ? Another alternative is to make the IBG over the counter. The maximum transfer limit per transfer set by MEPS IBG is RM500,000 (i know this through HSBC). I am however, not too sure how much is the transfer limit for IBG done over the counter for RHB Bank. Standard Chartered for example, allows its online banking user to transfer up to a maximum of RM5,000/day to another bank. However, if you do it over the counter, the maximum limit imposed per transfer is RM99,999.

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post Aug 25 2011, 10:49 PM

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QUOTE(mumeichan @ Aug 25 2011, 10:14 PM)
About 70,000-100,000 each time. I called them today before I went, but they said there is the IBG which limit is 5000/day and the interbank at the counter, but clearing time is between 2-3 business days. Waiting a day might be costly because the rate different from today to tomorrow is a difference of a few hundred USD. I'm asking here not because I cannot ask RHB directly, but I'm new to banking and I ask over the phone also I am not sure how competent the customer service person is. Maybe if I use the right terms they will give the right answer.
So i guess banker's cheque is the more viable option for you then. Cheque clearing is very fast nowadays. Assume that you bank-in the cheque before 4pm today, you will get the money by tomorrow. It has been so since September 2009 thanks to the new centralised cheque clearing system.

Have you ever thought of moving all your money to the "other" bank you said that gives a better TT rate ?


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