FAQ about bank-in or transfers

I have seen many disputes about how money takes very long to transfer to accounts and how banks not doing their jobs and so on. To prevent further misunderstandings, we present you the common timeline for such transfers.

Bank-in through:

• Cash-in at bank counter - immediate
  
• Local Cheque at same or different bank (counter or machine)
  • bank-in morning - 1 day
    
  • bank-in afternoon - 2 days
• Outstation Cheque (meaning issued cheque and bank-in account is not from same state)
  • bank-in morning - 2 day
    
  • bank-in afternoon - 2-3 days
• Online transfer different bank (GIRO) - 2 days
  
• Online transfer third party account (same bank) - immediate

Notes:
1. Days listed above must be counted as working days (which does not include Saturday and Sunday currently)
2. Morning = bank opening hour till 2pm
3. Afternoon = after 2pm

Contributor: almostthere, abubin (Mar 2006)

I always use deposit mc to transfer the money. so easy & fast...

I tried to transfer money from maybank to hong leong bank through maybank2u.com.my using Online transfer different bank (GIRO) ...
but whenever I type in the hong leong account....it say invalid acc number...
has anybody experienced same probs....
help me....
thanx...

yeah, deposit i the best way. one who doesnt have maybank should open it!

If i do not have a bank account.. how do i do send the money to the seller's account ?
Can anyone advise me the procedures for conducting this type of transaction.

Thank you.

You can do cash deposit at the counter. Just fill up a form, take a number, wait for your turn and the teller will do the rest when it is your turn...

can use deposite mc la..if dont have deposite mc u can use deposite at counter,
but must q first lo...if many q, waste the time....

got any extra charger fees for deposit the cash to the other account?

can i bank-in money in one bank but different bank account??
example : can i go maybank to bank-in money for a account in hong leong bank?
any additional charge??

i think u should go to hongleong bank to bank in money for that hl account.

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Added on August 12, 2007, 12:44 amerm...got interbank transfer but it will charge u something..nothing free nowdays

This post has been edited by cavcite: Aug 12 2007, 12:46 AM

what if international bank transfer? like Public bank (malaysia) transfer to Commonwealth Bank (australia)

use TT la.

TT = teh tarik session ?



bear in mind dat TT is expensive.
i recommend you using moneygram or western union.
but safety first ya.

i am sorry but TT cost only RM35.00 to the sender, and it is depends on the receiver bank of how much they are charging.

for Hong Kong HSBC, charge less than HKD100 for receiving. I am not sure either HKD50.00 or HKD100.00.
for UK HSBC, charge 12 pounds for receiving.

It is consider cheap if sending large sum of amount.

This post has been edited by xplora: Aug 18 2007, 05:00 PM

why u apologize?
its good to discuss about money transfer.
but,the cheapest way for me is westernunion online.if use agent,more expensive.

means TT charges both side??

scared if i offended you

i think cheapest way is make bankers draft or travellers cheque which cost RM8.00-RM10.00 then use recorded delivery or poslaju send.

The receiver should only wait less than 4 days and the receiver bank didn't charge anything for it at least it happens in UK or HK.

Just postage + rm8.00-rm10.00 bankers draft quite cheap.

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Added on August 18, 2007, 5:13 pmyes, of course. Both of the bank also want to earn money too.

Try to ask your bank if they have connections with the australian bank that your friend using.

If no connection, they need to go thru to the other australia local bank first before going to your friend bank and it could be a little more expensive because the first bank want money too.

Just like if i send from HSBC UK to CIMB malaysia, but the UK bank got no connection with CIMB, they need to go thru public bank.

That means the receiver need to pay public bank for the service charges beside CIMB too.



This post has been edited by xplora: Aug 18 2007, 05:13 PM

anyone can explain more about money gram n western union?

any secure method to purchase something online.. like the bank will freeze the money 1st.. seller can get once i got the item.. any idea? thanks..

Are you purchasing something with big amount? If you so, you can apply LC.