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Instant Transfer (IBFT)

Instant Transfer (IBFT)

Transfer funds or make payment to any accounts maintained with MEPS member bank

  • Daily Transfer limit:

    RM30,000 (Share limit with IBG)

  • Service fee:

    RM0.53 (Inclusive of GST)

Daily transfer/Payment limit

Maximum limit for Instant Interbank Fund Transfer is RM30,000.

Shared limit for Instant Interbank Fund Transfer and Interbank GIRO is RM30,000 daily.

Example:

  • Should a customer perform an IBFT transaction of RM20,000, the remaining Interbank GIRO limit allowed is RM10,000.

  • Should a customer perform an Interbank GIRO transaction of RM25,000, the remaining IBFT limit allowed is RM5,000.

  • Should a customer perform an Interbank GIRO transaction of RM30,000, the remaining IBFT limit allowed is RM0.

Benefits

  • Immediate fund transfer/credit card & loan payment to recipient.- Real-time fund transfer to beneficiary account.
  • Convenient way to transfer funds and make payment - There's no need to queue at the bank or ATM to transfer funds.
  • Safe & Reliable - Secure mode of fund transfer as it eliminates the use of cash.
  • Verification of beneficiary account - The name of account holder will be displayed upon entering the beneficiary account number.
  • Available to all registered Maybank2u users.

Features

Both Instant Interbank Fund Transfer and Interbank GIRO can be registered as a Favourite Interbank Transfer.

It is simple and easy to register by following the instructions below:

  1. Select 'Transfers' from the Accounts and Banking Menu.

  2. Under 'Manage My Favourite Transfers', select 'Interbank Fund Transfer'.

  3. Click 'Add' button.

  4. Select Recipient Bank and click 'Continue'.

  5. Select Payment Type and enter account number, recipient name and mobile number.

  6. Select 'Yes' or 'No' for Recipient ID Validation. If 'Yes', select Recipient ID Type and enter Recipient ID. (Not used for Instant Transfer)

  7. Click 'Continue'.

  8. Enter the Transaction Authorization Code (TAC).

  9. Click 'Confirm' and the account will immediately be added to your favorite list.

How to Transfer Fund

  1. Select 'Transfers' from the Accounts and Banking Menu.

  2. Click 'Favourite Interbank Transfer'.

  3. Select a bank from your Favourite List and click 'Continue'.

  4. Fill in the amount to Transfer and Select Instant Interbank Transfer or Interbank GIRO from the Mode of Transfer selection.

  5. Click 'Continue'.

  6. Confirm your transfer details and click 'Confirm' to proceed with the Transfer.

Participating Banks