Other also consider cash as new fund.
Quite standard across.

cash is most straightforward. the trouble would be when u GIRO/RENTAS transfer in from other banks a few days ago, would they consider that as "fresh funds"?

Not necessary the case if you withdraw cash and try to deposit immediately with the same teller at UOB.

Like this, too obvious already.

I do not sure about this, but one can raise this issue to the RM, or office in charge.
As long as to show the money is from elsewhere and intend to put into the promotion FD, then I think most bank/officer will accept.
They just want to attract new deposit, that's why always stated "fresh fund" as criteria.

Is this only valid in HL Islamic Bank, not HLB ? Good deal as I was looking at the UOB one same as Gen-X for my next FD. However at the moment I only have FD in HLB. THanks !

Almost all HLB branches do HLIB products too

Oh, that will be good. Hate to open too many accounts in various banks. Thanks !

appreciate response, minus the


anyway, anyone here think the way the banks are now dealing with fd rates, any chance rates will go up by 2h2013?

as long as it is from another bank, it is considered as fresh fund. I did it so many times within the same day for ocbc

must be same day?

Internet GIRO transfer, usually if before cut-off time, recipient bank will receive in next day. But what if it only arrive at late noon? Have to run out from office to the bank before 4:30PM?

BR can be up to 4.2% (or more ?) depending on FD amt and negotiation skill ........



This post has been edited by bbgoat: Feb 20 2013, 11:04 PM

IBG done before cut-off time, recipient bank will receive the fund on the same day usually by 6pm.

That is over-the-counter GIRO, I was referring to IBG thru internet banking. Most banks still take 1 working day for that.

Does not apply only to over-the-counter MEPS IBG. It is the same for MEPS IBG done through internet banking. And yes. I am very sure about this. Sometimes the fund is credited as early as before 2pm on the same banking day.

This post has been edited by MilesAndMore: Feb 20 2013, 11:49 PM

When will the funds reach the destination account?

Day and TimeTransaction Performed | Funds Available By
Monday to Friday, before 11.00am | Next Working Day, 7.00am
Monday to Friday, after 11.00am | 2nd Working Day, 7.00am
Saturday and Sunday | Tuesday, 7.00am
Public Holidays | 2nd Working Day, 7.00am

http://www.ambankgroup.com/en/eBanking/AmO...epsIbgBank.aspx

EON and HLB also similar, until very recently when they made the funds cleared at end-of-day (latest 12 midnight) if done before noon cut-off

This post has been edited by Pink Spider: Feb 21 2013, 12:03 AM

The above information is out of date. And AmBank did notify its customers a while ago that all MEPS IBG done before the bank's cut-off time will be made available to the recipient bank account on the very same banking day by evening, usually at 6pm provided all information entered is correct and there is no other unexpected issues like internal server problems etc. Likewise, money transferred from another bank before the cut-off time to AmBank will be credited to the account on the same banking day. And last time i transferred some money from another bank to my AmBank account, the money was in my account already when i checked my account online around 6pm or 7pm.

I do many MEPS IBG every month from several different banks to several other different banks (both local and foreign banks) and from my observation, the money is usually credited into the recipient bank account between 2pm - 4pm on the very same banking day the money is transferred out as long as you do the transfer before the bank's cut-off time. And every bank has a different cut-off time. The cut-off time usually is either 11am, 11.30am, 12pm or 12.30pm.

And i just remembered that i had transferred some money to my cousin's Hong Leong Bank account just not so long ago before the bank's cut-off time (from a foreign bank) and the money was already in when he checked through the ATM and he withdrew it right away.

Besides doing MEPS IBG over-the-counter and through online banking, one can perform MEPS IBG through the ATM too. However, not all banks provide this option at their ATM and the available banks for this is limited. I personally have seen the list of banks available on Maybank ATM, AmBank ATM and Alliance Bank ATM and the transfer is instant. Yes, this means the money will be made available to the recipient bank account right away.

This post has been edited by MilesAndMore: Feb 21 2013, 12:47 AM

Within the same day so that you can make use of the fund for FD and not loosing interest. You can also take your own sweet time to do it. As long as you did it early morning, the fund will be availbe the same day in the other bank.

Just a tip for those going for OCBC Bonus Savers Deal.... you do not need to deposit startup amount (RM10/RM20/RM50) for the opening of the SmartSavers account. The 50% of FD amount will be able to activate the account, and funds available to use on the same working day.

Hi, how should I transfer 10k from current bank acc to open an FD acc under this OCBC promotion in easiest way? I don't have cheque btw.