Ambank, one of the leading banks in Malaysia, offers IBG transfer services to its customers.
This service allows customers to transfer funds to any bank account in Malaysia, regardless of the bank they hold their account with.
How long does IBG transfer take for Ambank?
An Interbank GIRO (IBG) transfer with Ambank typically takes between a few minutes to one business day, depending on the time the transaction is initiated.
If the transaction is made before the bank’s cut-off time, it may be processed on the same day.
However, if it is made after the cut-off time, on weekends, or public holidays, the transfer may take up to the next business day to be processed.
What is Ambank IBG cut off time?
The crediting and refunding times for various payment scenarios are as follows:
- Initiated Payment:
- AmOnline: Credited same day if initiated before 5:00 am, otherwise credited next working day by 11:00 am.
- AmGenie: Credited same day if initiated before 5:00 am, otherwise credited next working day by 11:00 am.
- *Refund Time:
- AmOnline: Refunded same day if initiated before 11:00 am, otherwise refunded next working day by 5:00 pm.
- AmGenie: Refunded same day if initiated before 11:00 am, otherwise refunded next working day by 5:00 pm.
- Crediting Time:
- Business Days (Mon – Fri):
- Before 5:00 am: Credited same day by 11:00 am.
- 5:00 am – 8:00 am: Credited same day by 2:00 pm.
- 8:01 am – 11:00 am: Credited same day by 5:00 pm.
- 11:01 am – 2:00 pm: Credited same day by 8:20 pm.
- 2:01 pm – 5:00 pm: Credited same day by 11:00 pm.
- After 5:00 pm: Credited next working day by 11:00 am.
- Business Days (Mon – Fri):
- *Refund Time:
- Business Days (Mon – Fri):
- Before 5:00 am: Refunded same day by 5:00 pm.
- 5:00 am – 8:00 am: Refunded same day by 8:20 pm.
- 8:01 am – 11:00 am: Refunded same day by 11:00 pm.
- 11:01 am – 2:00 pm: Refunded next working day by 11:00 am.
- 2:01 pm – 5:00 pm: Refunded next working day by 11:00 pm.
- After 5:00 pm: Refunded next working day by 11:00 am.
- Business Days (Mon – Fri):
- *Refund Time:
- Non-business Days: Refunded next working day by 5:00 pm.
Note: *Refund Time refers to the time it takes to process refunds for AmOnline and AmGenie transactions.
Why does Ambank IBG transfer take so long?
In general, the processing time for IBG transfers can vary depending on several factors such as the transfer amount, the time of day the transfer was initiated, the recipient bank’s processing time, and any potential delays due to public holidays or weekends.
It would be best for you to check with Ambank or the recipient bank for more information on the specific processing time for your transfer.
How do I check my Ambank IBG transfer status?
You can check the status of your Ambank IBG transfer by logging into your Ambank online banking account and checking the transaction history.
You can also contact Ambank customer service for assistance.
How do I know if Ambank my IBG transfer is successful?
You can check the status of your IBG transfer by logging into your Ambank online banking account or contacting their customer service hotline. You should receive a confirmation message or email once the transfer is successful.
Can Ambank IBG transfer be cancelled?
In general, IBG transfers can be cancelled if the recipient bank has not yet processed the transaction.
It is best to contact Ambank customer service or visit a branch to inquire about their specific cancellation policies and procedures.
What are the best practices in transferring money from Ambank to other banks?
Here are some general best practices for transferring money from Ambank to other banks:
1. Use online banking: Ambank offers online banking services that allow you to transfer money to other banks conveniently and securely. This is the most recommended method as it is fast, reliable, and secure.
2. Check the recipient’s details: Before initiating the transfer, ensure that you have the correct recipient’s details, including their bank account number, name, and bank branch.
3. Verify the transfer limit: Ambank has a daily transfer limit, and it is essential to verify the limit before initiating the transfer to avoid any inconvenience.
4. Keep track of the transaction: After initiating the transfer, keep track of the transaction until it is completed. This will help you to identify any issues that may arise during the transfer process.
5. Be cautious of fraud: Always be cautious of fraudsters who may try to trick you into transferring money to their accounts. Verify the recipient’s details before initiating the transfer to avoid any fraudulent activities.
6. Contact customer support: If you encounter any issues during the transfer process, contact Ambank’s customer support for assistance. They will guide you through the process and resolve any issues that may arise.
