1. How does it work?
For individual customers, there are three options:
Option 1 – Internet and mobile banking
Customers can make interbank funds transfer and payments via IBG through their preferred
Customers can make interbank funds transfer and payments via IBG through their preferred
bank’s or mobile banking.
Option 2 – Via bank branch
Visit any IBG participating bank branches and fill in the Interbank GIRO form.
Visit any IBG participating bank branches and fill in the Interbank GIRO form.
The details required for the form includes beneficiary’s name, account number and amount to
be transferred.
Upon completion of the form and an indication of the mode of payment i.e. cash or
direct debiting from current/savings account, the bank will process your request.
It will be processed on the same working day if request is before 12.30pm.
Option 3 – Phone Banking
Customers can also make use of Phone Banking services provided by IBG participating banks.
Customers can also make use of Phone Banking services provided by IBG participating banks.
Please check with your bank on service availability.
For corporate customers :
Fund transfers can be made through IBG participating banks via pre-agreed media such as CD,
Fund transfers can be made through IBG participating banks via pre-agreed media such as CD,
diskette, file transfer, Internet or any other electronic means accepted by the bank.
2. Which financial institutions is offering the IBG service?
3. Who can use the IBG service?
All customers of Banks in Malaysia can use the IBG service.
4. Is there a maximum amount that I can transfer using the IBG service?
The maximum amount is RM1 million per transaction subject to individual banks terms and conditions.
5. What is the IBG service fee for the customer/businesses?
10 cents per transaction charged by participating banks.
6. Who pays for the fees?
The fee will be levied to the customer / businesses who initiates the payment.
The transaction will be rejected by the receiving beneficiary bank.
*On general banking operating procedures and applicable to internet banking, ATM and Over the
Counter (OTC)
Yes, it is applicable for all Interbank Giro (IBG) payments and funds transfer to current and
savings accounts. Except for Bank Muamalat, where funds are credited after 6pm if payments
initiated up to and including 12.30pm.
Meanwhile for loan and credit card payments performed up to and including 12.30pm on
business days, funds will be available in the beneficiary’s account before 12 midnight on the
same day.
10. If my Interbank GIRO transaction was not successful, will I receive the refund?
Yes you will receive the refund from your remitting bank on the *next business day by 10.30am
if you instruct the payment on the same business day up to 12.30pm
(for internet banking and Over the Counter) or 10.45am (for ATM)
*Under general banking operating procedures
further info, go to : http://www.myclear.org.my/faqs/interbank-giro-faqs/
