I've always done IBG from my hong Leong account and TAC has always been required. But today I did an instant transfer & no TAC was required - it just went thru.

Is that normal? imho, instant transfer without TAC is kinda risky

I just did another IBFT & again no need TAC. Same HLB

Someone hinted that it might be because the payee is a favorite payee. But I also did IBG to same fave payee which required TAC

IBG is "delayed" transfer. IBFT is instant / immediate.

I have no proof to show even if I complained to BNM. Only thing I can think of is to ask folks here if anyone else experience the same and if many of us, then can complain collectively as a group. i think it's not right. TAC is a must for all transfers irrespective

This post has been edited by okuribito: Jan 12 2018, 05:34 PM

do you think they set some amount below which they dun implement TAC? will be interesting to know their algorithm ...

as far as i am concerned even rm1.00 also must implement TAC ... who are they to decide how much is significant? who are they to discriminate between low value & high value accounts?

11 am next working day. Don't worry

btw u said u sent to favorite account, right? did you need TAC?

Paynet.

Ambank & HLB oredi link their customers to this system. Anybody know what sort of security implemented for cash transfers out? got 2FA?

yeah. This CIMB faq sheds more light on duitnow. Just another payment option in our online transfer screen. Still subject to TAC

does bnm or the developers think this need will go away in the future?

Have they sorted out the 1 bank tied to one phone number issue yet? What if I have accounts with two different banks & I want to do a transfer between them? Do I have to buy 2 phones with different phone numbers to do the transfer? What if I have accounts with all banks in the country? One phone number for each?

Or are we not allowed to have accounts with more than one bank?