raptar_eric and aeiou228. Readers interested in using IBG cheap transfers or IBFT transfers for FD placement. Warning - may be considered OFF TOPIC and deleted.

As usual, there are some tiny details that trip-up those who do not know or are inattentive. If you want to try and want it to work:-

1) Each of the accounts you want to use must not be dormant - meaning you need to keep them alive by CDM or ATM withdrawal or transfers between own accounts using M2U internet. If forget, too bad. it is hassle time. If you have many accounts, best to have a set timetable to keep them active and have enough service fee with gst inside depending on the periods when the bank debit the account. Unfortunately, this timing is not standardized but erratic. Your account may fall below if it executes some standing instruction like utility, card or allowances payments. Check your account status and be aware when these payments usually happen and look at the records for recent and earlier transactions (no transaction record for Kawanku Savings).

2) The fund inside each particular account must be adequate to cover tranfer amount plus transfer cost and gst. Plus 11 sen for IBG and 53 sen for IBFT if done thru internet M2U.

3) Plus the minimum amount needed to be maintained for each account must also be present. This is different for different accounts.

Supposing want to transfer maximim limit 30k - you need 30,000.11 for IBG using normal Current Acct, but 30,000.53 for IBFT - remainder after transfer = 0. For Kawanku, 30,010.11 for IBG and 30,010.53 for IBFT - remainder after transfer = 10, etc etc.

4) When you choose to manage and change any account limit, or to do the transfer make sure you have already registered your current handphone number for all the accounts involved and your handphone is charged and at hand and have enough credit to receive requested authorisation code and subsequent notice. Make sure you have adequate time as connection may sort of hang or sms is slow.

5) You may reduce the hassle by setting up Favourite Third Party feature for the accounts you expect to transfer to often.

6) There are certain times when the servers will go offline - unfortunately the period also erratic. Also there are busy times when M2U may sort of hang and disconnect after a period of its own inability instead of your frantic activity.


Each account behaves as if by itself alone with its own funds. Each account can be set at different transfer limit for it and the MBB servers does not care if one account is only limited to 5k, another say 8k, another 20 k and some at 30k. It has no idea which one is supposed to be a top cumulative amount as it is not as if there is a top cumulative limit for all credit cards set by the bank. The maximum you can transfer in any day is the sum of all the transfer limits you set for each live account subject to adequate funds.

Linking was done by homebranch of each account when I opened the particular account. I do not know what is the present way of doing linking for unlinked accounts as I never had to do so since long ago.

For joint accounts, I have no actual experience but can expect all parties required to be present.

To transfer 210,000 only need 11x7 = 77 sen cost for IBG but 53x7 = RM 3.71 for IBFT. For me, IBG is good enuf because I will only show up at the bank just near 11 am or at 2 pm on the same day to do paper work for the FD.

Different banks may work differently as there is no standard.


This post has been edited by Deal Hunter: Jul 3 2016, 10:36 AM

No need so early. Do before 8 am usually or use PMA cheque for big amount. Also can set day for automatic IBG transfer. I do not usually deal with CIMB or SC accounts as usually never layan them as usually too low rates etc . So no idea how good or bad their way is nowadays. Anyway aeiou228 wanted to know in detail how I did it. If you find your banks are not so good, you can change to Maybank. Every bank have their own unique strengths, problems, conditions and style of doing things. You may also have made some mistakes without knowing it. I experienced all the mistakes mentioned at Maybank before sharing about the precautions.

This post has been edited by Deal Hunter: Jul 3 2016, 11:18 AM

Good luck. Assume you don't have a savings account with Maybank, so cannot IBG or IBFT over. Looks like you may need to get bank cheque at CIMB before taking it over to Maybank.

This post has been edited by Deal Hunter: Jul 3 2016, 03:59 PM

Good luck

This post has been edited by Deal Hunter: Jul 3 2016, 03:53 PM

The limit for each account does not change up from say 50 k to 200k if you have 4 accounts. Do you understand that you have to transfer 50 k each from each account, meaning 4 transactions and not 1 giant IBG/IBFT transaction.

This post has been edited by Deal Hunter: Jul 3 2016, 12:11 PM

I have to cut down on the trips as getting too old and not so healthy. Can you explain whether there is a way to Rentas without going to the bank?
Anyway it was just an accident from being old to have so many accounts that could be used. Thanks.

Thanks aromachong,

It is not just a matter of views, but whether there is a responsibility entrusted on one to perform better everyday and safer due to family needs and circumstances. I think many people will regret when they grow older. I do regret myself. When FD operations are done at an increased frequency to handle best deals, it is no longer in the same class of infrequent placements. The way of doing things must change especially when old and not so healthy, and the operating costs, risks and time used become substantial proportion of the profits.
When one has a good income flow from job or business, one may forget that some of the multimillionaires and billionaires are extremely cost conscious and have the attitude to take advantage and improve on any situation. If I were not so dumb twenty years ago, and did what I do now, I would be much more comfortable and be a multimillionaire many times over by now.

This post has been edited by Deal Hunter: Jul 3 2016, 06:23 PM

Thanks a lot ycs.

Still susah kes- cannot simply walk here and there.
Hope the bank reforms can help the old folks. Or the banks take their own initiatives to cater for the wargamas and OKU FD segment.

Setting up privilege banking needs to be stuck with some bigger sums in the various banks. Been upsetting them by disloyally removing all funds to maximise FD profit instead. This was one of the things in my past that I regretted as get a flood of mails and promotions.

Uplifted 2 FDs matured today. Top-up with more cash and no problem to place at Bank Rakyat at 4.38% for 12 months with monthly payment of interest into savings account afternoon Monday 4 July 2016..

On the subject of getting your FD info really up to date and usable, Deal Hunting is one of the most critical aspects to maximise returns. Since I had some experience with survey problems in my old job, I could transfer the developed techniques into Deal Hunting.

There is no need to be surprised if conflicting promo statements are given or banks or branches act different. It is a common Human Problem in communications. I get this all the time from bank staff from same branch and different branches. In principle one needs to countercheck to determine the correct claim, but in reality it is not so simple. One of the worst are the people manning the call centres - really blur. The worst bank staff are usually those who changed jobs from different banks - they think they can just transfer wholesale their experience and what they know from their former job and answer confidently with wrong info not realising that their present job or SOP is different. They could even be people in authority - but they change their story later when they are shakened and honestly read and understand the small print, memo and manuals after being shown some scenarios where they realise their answers cannot be accepted.

A major problem is that the common people and bank staff have very little understanding that the standard of programming, server operations, updating of website and customer database information is pretty awful. Once, I asked for a printout of the rates info - so they obliged. Then I had a look and thought it seemed obsolete. So I asked a different higher up person and explained my doubt. After that they printed a so call same page but with different rate and date. I suppose it is just your luck which server or access level or access path is involved. Most banking programs have defects and are not properly debugged meticulously to the end, so need upgrades. Usually accounts are maintained even when cancelled or dormant and they can affect IBG/IBFT transfers if used. I regularly get mix-ups in my FD and savings accounts because the staff just assume the first thing they see is the one.

I am sure many people keep getting bombarded with mail and bills even after you informed the sender that the previous tenant had left. It is the same in bank and FD cases. Database system inefficiency and clean-up has always been a major problem in computer systems.

I have not yet seen a single bank that had a unifiied system of giving FD promo info accurately. But I had seen vast improvement in some of the branches I visited after showing them my table of FD rates. They are also curious about their competition, and now they know how to answer correctly, quicker and more accurately and not blur as before - they are getting educated. The only problem is that the improvement is only at the branches I visit and where their staff shows some interest in the details in the FD table that I am correcting/updating and questioning/comparing branch differences in their answers in their presence.

Top award goes to UOB Medan Pasar (I don't place with them but with UOB Main at Jln Raja Laut). OCBC Main KL had shown vast improvement. Somebody must had made all the pretty frontline girls and men learn how to respond, after I placed a sum in some FDs, answered a questionnaire honestly and the recorded verbal feedback follow-up on why the not so good scores - maybe treated seriously because they know my ex-occupation from the FD application form. Maybank branches are always rather confusing from superb to awful. This is probably because they have a lot of products and new FD promotions, sometime with slight adjustments - so very mix up and not sure obsolete or new - especially every branch come up with their own version printed or written. But the best Maybank is at Jln Tun HS Lee at the frontline - the queue receptionist place.

This is getting too long and it only touches the surface. But things are not really simple, and some understanding and reflection to connect to your experiences will save you some grief. In general, the situation is highly unsatisfactory in most banks and any enlightened management would work to improve it. Maybe becuz Malaysians are too docile due to their education system and not openly able to state weaknesses and discuss suggestions that can be adopted without being easily offended - and so the bad FD info situation remains.

This post has been edited by Deal Hunter: Jul 5 2016, 01:44 AM

The question of why cannot do IBG/IBFT for FD or anything else is a common complaint from those not experienced or fully complying with details in the rules. It is only after getting explanation and really understanding the implied and unwritten meanings, learning from the mistakes and solutions in Frequently Asked Questions, reading customer complaints, you really know what your situation is and what to do, that you will succeed. It is really not that simple and even the IBG/IBFT thread does not cover every trip-up or solution.
Usually failures occur because of extraordinary situations not written-up in detail or misinterpretation of the manual and snappy brief instruction which will work for the normal case. If you want the answer in 1 or 3 sentences - most likely failure becuz already unable to comprehend many unspoken implications not said. If you go to a bank and wait, you can always see bank staff explaining but later the customer comes back to say cannot do. Then some bank staff will go and help. In some cases, the bank staff are also defeated by the bank's computer system and they reset and even after more problems, change ATM card, or give up (refer to HQ and never comeback).

For high worth individuals, the major problems are:-
1) unfamiiliarity - seldom do and no sad experiences to learn from
2) disregard of the rules - think anything also can as if the computer cares a hoot and unwillingness/inability to learn and comply
3) high minimum amount must be maintained for their high value account but forgot to take this into consideration with transfer charges and gst to cover the ADEQUACY RULE.
4) their account/s are not clean and stand alone - meaning they have compromised their ability such as taken up TAGGED FD products or funds where a certain high percentage or absolute amount is locked in CASA. The problem begins when the staff says can withdraw or transfer (meaning in general normal case) and you did so OTC, but the system remembers the condition and says NO later - inadequate/rejected. Things get confusing when you take up a number of tagged products including FD, as the ADEQUATE AMOUNT changes.
For some cases, it is a TIMING problem, which is usually worsen by charges and gst. Some banks are notorious for their high charges and sticky rules. This usually involves cheque clearance and overdraft, time clash with standard instructions for autosweep between current and savings account, autopay for loans, to others like wife and children in foreign currency studying overseas, credit card, annual fees such as ATM card, current account, bank deposit box charges and a whole bunch of charges. This is particularly difficult for those who have high penalty and interest charges for credit card late payments.
Some high worth accounts have peculiar rules to attract their customers which can clash. This all falls under one sentence in ADEQUACY RULES. Specific Terms and Conditions applicable to each account and situation on top of general IBG/IBFT rules.
5) In the worst case, the account may have some sort of unremoved block because of former complaint to bank of unauthorised transfer or to avoid some mistake or ATM card loss.
6) Use of account that cannot be used as not yet fully activated or already dormant but still showing in computer system - but cannot do anything.
7) Each account limit change and IBG/IBFT transfer needs its own TAC authorisation - you cannot change all of them with one TAC authorisation by SMS or if you mixed up the TACs received.
8) Do not confuse the poor servers and yourself by doing all at one login session. It can take some time.
9) For those who do more than one transfer per account, they face the DECREASING ADEQUACY PROBLEM due to IBG/IBFT charges and gst. That means usually cannot do the last transfer.
10) Not quite the same in ATM, due to peculiar rules about usage frequencies, free and charged access/transactions per month etc applicable specifically to the account or bank in question. It can get pretty bad.

One sentence reply - Maybe make a mistake. There are all sorts of reasons for failure, some easily understood and solved but some even the bank and HQ are at a loss due to their system. Please understand that this can get very complicated and depends on the individual to understand the status of his accounts and the bank and account peculiar conditions and terms of use. Most people do not read the terms and conditions fully, instructions, FAQ, and feedback. And even if they do, the language may be beyond their language ability. The implications (not in your favour) may not be fully spelt out. Or find it hard to believe which conflicting report not realizing the different unique undisclosed or changed time situations that make each different. Anyway failure is expected and normal initially, so no big deal. Otherwise no need to go to school, manuals, training, feedback or have customer help.

Good luck, hope you will succeed. If you already compromised your accounts, there is nothing much that can be done.

This post has been edited by Deal Hunter: Jul 5 2016, 12:33 PM

Thanks for the suggestion.
I do not usually want to write or blog, but only becuz questioned or the point raised. The answers are not really that simple as mistakes or situations are not fully disclosed which is their right, but makes it difficult to give a reply that will be of any help in 3 sentences. There are so many non-standard situations, that makes writing/replying difficult.

This post has been edited by Deal Hunter: Jul 5 2016, 12:17 PM

It can only happen if most people withdraw and place with the bank with the top FD rate only. The other banks will then see loss of funds and react to replenish their cash flow. Just imagine what will happen if everybody goes to Affin Bank only.
Unfortunately, many people are kinda tied to their bank due to loans, overdraft facilities, credit card, share investment, insurance and all sorts of funds.
It is not the OPR that matters but the cashflow position and whether the bank has enuf to make enuf profit to survive.

The bank staff is right. Some banks do not have their FD promos on their webpage and customer service at call center will usually just refer to their webpage. Some bank staff also do the same thing.
Banks usually seem to have some sort of problem getting their websites up-to-date probably because of the CANGGIH problem in marketing websites. That means style ada, beautiful and got navigation and also disturb other webpages by squeezing in besides getting the programming done. They also have some problem with their bank info display screens as an extra job.
Usually, bank staff need to refer to their briefing, memo from HQ, make hand notes. Some will interpret the memo and make their own version first and make distributable flyers before the canggih flyer is made available from HQ.

This post has been edited by Deal Hunter: Jul 5 2016, 07:05 PM

If we follow this reasoning, no need for any bank to offer a higher rate or try to outbid each other. Anyway, how long can a bank do interbank without jeopardising their position. Short term OK, long term can or not?

Once a customer flees, there is a great danger that having tasted the sugar, will never come back. Maintenance of Customer Base is critical.

When Bank A stops on reaching their target - why got question of too much cash? This was what the bank feel they need after all.Then there will be a next top deal or the number 2 best deal becomes the FD to go to. The effect is to squeeze those who are less competitive - no promo, low promo rates. Thus, it is not so short term as one promo effect.

But I agree that Loan Deposit Ratio is most important but not Total. A bank will probably have a dim view of an average.

The other aspect is that if a bank has more funds, it can lend more and make more taxable profit for government. It is up to the bank whether it will raise or lower their profit ratio depending on their loan segments.

Presently there is a plateau because most banks already comfortable after the last round of competition except for Affin, Bangkok Bank.

This post has been edited by Deal Hunter: Jul 5 2016, 07:20 PM

When offer gifts, usually just marketing attraction, not seriously bank need money yet. Some customers just view gifts as extra rubbish clogging up house, so no laku.
FYI, I dropped in at Maybank to ask about their present Premier Mudarabah Account (monthly interest) rate - which being islamic moves about. The staff says 2.8% up from 2.68% previously.
For the bottom FD promo and board FD rates, I prefer the effective rate +1.5% and + 1% respectively.
At present I use the MBB PMA to transfer in monthly interests and matured FD till reach the required amount and time before using IBG or PMA cheque to place. If got extra days then place at eGIA-i at 4%.

This post has been edited by Deal Hunter: Jul 5 2016, 10:09 PM

Can take their free sweets at HL counter

Good points. Thanks for the explanation.

Please refer to cherroy post July 4, 2016, 01:53 PM. She also did it. Why can't you?

Each bank has its own product range and their own rules. Frankly some banks are better, and some a lot worse. You can read it from the complaints. Please ask your bank what you can do and cannot do. If the answer is not so nice, you can change to a better bank.

Not all banks systems are the same, some are more stringent and may impose more restrictions. That is the banks right - that is why I stated you need to understand your bank. It is not that it is faulty or excuses, it was made like that for my bank.

Things can be delayed because sometimes the TAC only arrives later, that is why it is not advisable to do things in one login session, by which time the security aspect may already disconnect your login.

FYI, I was also in the computer field and one of the pioneers of computerisation in Malaysia before my retirement. I am more than qualified from work experience to speak about computer staff and so called top foreign and local experts and consultants, computer systems and their running. Usually there is some kind of need to go thru various servers and different storage devices. But I was not in the banking line.

This post has been edited by Deal Hunter: Jul 6 2016, 10:38 AM

Why cant a server handle multiple requests/operations in a single session? You kidding bruh? from raptar_eric

Of course "CAN" handle. But don't expect it to work fine everytime and hope one session will do and at the last minute when have to rush off somewhere. The telco sms can't be bothered how good your bank system is and has its own performance at various times, loads, places and networks. I am not interested in academic theories or how it is supposed/designed to work. Just tell me how I can fail and what precautions are needed to succeed to transfer to place the FD. I want to be prepared to be unlucky and ensure own luck instead of being a hapless victim of fate or repeat failures.


This post has been edited by Deal Hunter: Jul 6 2016, 01:20 PM

What does not being familiar and account compromised gotta do with daily transaction limit? Totally OT

The compromised account can be seen, but it won't work as expected. This is quite normal for business people and people with debts.

If new or not careful/forget about each account conditions, then all sorts of mistakes happen to make one fail. If you have never been in the shoes of these people, you won't understand.