Instant Transfer (DuitNow) & Interbank Giro (IBG)
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 Jun 18 2019, 10:58 AM
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#1
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Newbie
35 posts Joined: May 2009  
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Latest ruling by Bank Negara lowered the cash transfer amount from RM50k to RM20k, where banks are required to report to Bank Negara when there are cash transfers that exceed RM20k. Is this only for cash deposit or also bank to bank transfers? Anyone experienced this before? I have some large amounts to transfer from one savings bank account to another, so wondering if this will be an issue.
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Jun 19 2019, 12:29 PM
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#2
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Newbie
35 posts Joined: May 2009
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QUOTE(MilesAndMore @ Jun 18 2019, 10:03 PM) It is cash deposit where you need to make some declaration, source of funds, purpose of funds etc. I see. Thanks for the clarification! Appreciate it |
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