FAQs on the 10 sen IBG Fund Transfer Campaign

The Association of Banks in Malaysia

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FAQs on the 10 sen IBG Fund Transfer Campaign

What is the objective of the campaign?
The objective of this campaign is to build greater awareness amongst the general public and to educate banking customers on Inter-bank Giro or IBG using internet or mobile banking, which is a fast, affordable and convenient way to transfer funds from one bank to another as well as to make payments to a recipient who is a customer of another bank.
What are the activities planned for this campaign?
Which banks presently offer IBG?
How can IBG transactions be effected?
Is there a maximum amount that can be transferred via IBG by individuals?
What are the efforts initiated by the banks to promote IBG to their customers?
How does one reconcile payments made and received via IBG?
If one does not have any access to internet banking, what are the alternatives available?
How would you address security concerns of members of the public in your promotion of internet banking and IBG?
What are the measures adopted to encourage users to migrate to e-payments?
What is the fee imposed for IBG transactions viz-a-viz cheques?
When will the money reach the recipient’s account?
Can I transfer funds to any type of account in other banks?
Can I use IBG to pay for my credit card and loans?
Is IBG available 24 hours a day?
What are my other alternatives if I have more than RM10,000 to transfer?
Do I need to pay the service fee each time I make a funds transfer?
How can I inform the recipient that I have transferred money to his account?

ABM Connect | Toll-free on 1-300-88-9980

ABMConnect provides an avenue for consumers to clarify any doubts and verify information on conventional banking issues.

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The Association of Banks in Malaysia (ABM) was formed in November 1973. Our membership is currently made up of the 27 commercial banks operating in Malaysia.

Since its inception, ABM has been actively involved in various initiatives to promote and strengthen the commercial banking industry to become more resilient, effective and efficient.

Tel No. : +603-2078 8041
Fax No. : +603-2078 8004
ABMConnect : 1300-88-9980

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