WARNING: DO NOT TRANSFER FROM MAYBANK OR ANY BANK UNTIL ISSUE RESOLVED.

MAYBANK IS REPORTING ISSUES WITH INTERBANK. FUNDS MAY BE 'STUCK' NOW.

I did instant transfer a few hours ago MBB to ALLIANCE. Spoke to customer service. May only go through by tomorrow morning, or may take 14 DAYS FOR MANUAL CREDIT TO AMBB (yes that's what they said).

I am honestly not too upset at this point but my goodness, this shows the fragility of the Malaysian financial system if they can't resolve interbank tomorrow.

I empathise with anyone that has transferred large amounts of money which is right now in 'limbo', especially just as Chinese New Year starts.

Please continue to have cash-in-hand, credit cards, maybe even Bitcoin to be prepared for issues like this, it may not be the last time it happens.

I wish everyone affected by this all the best.

Tomorrow Friday 27th is a regular working day for banks AFAIK. But see issue above.

This post has been edited by klmojuze: Jan 26 2017, 09:03 PM

IBFT.

Thanks for advice, I have to be more careful now. I'm sad that Malaysia Interbank, especially when related to "instant transfer" that is promised, has problems. Does not bode well for the trajectory this country is on. Yes, "you tak suka you keluar", but I digress.

DISCLAIMER: I am not a lawyer or financial advisor, this is NOT financial advice.

But IMO at this point I feel one should keep several thousand RM and several thousand other currency in CASH in your safe at home. One should also have one or two Malaysian bank accounts and try to open a foreign deposit eg. Singapore or Australia.

Physical silver and gold eg. Perth Mint or Canadian Maple bullion, several ounces of each, can be useful. It should be IN YOUR POSSESSION not in safe deposit box somewhere else etc.

Bitcoin and other cryptocurrency is an option but you need to start with tiny amounts (like few dollars' worth) because I feel one should really know how the wallets and systems work since it is not fiat ie. there is no guarantor of your funds.

Not saying anyone should panic, but beginning these habits and preparation will stand you in good stead, IMO.

This post has been edited by klmojuze: Jan 27 2017, 08:36 AM

Praise God, transfer went through when I checked this morning. IMO caution is still advised given MEPS issues this year.