IBG transfer is a popular method of transferring funds between Bank Islam accounts and other banks in Malaysia. It is a convenient and secure way to transfer money and is widely used by individuals and businesses alike.
IBG transfer is a cost-effective option for those who need to transfer funds quickly and efficiently. Bank Islam offers IBG transfer services to its customers, making it easy for them to send and receive money anywhere in the country.
How long does IBG transfer take for Bank Islam?
Here is the Bank Islam IBG fund’s availability schedule:
Business Days (Monday – Friday):
- Window 1: Transactions before 5:00 am will have funds available by 11:00 am the same day. Refunds for unsuccessful transactions will be processed by 5:00 pm the same day.
- Window 2: Transactions between 5:01 am and 8:00 am will have funds available by 2:00 pm the same day. Refunds for unsuccessful transactions will be processed by 8:00 pm the same day.
- Window 3: Transactions between 8:01 am and 11:00 am will have funds available by 5:00 pm the same day. Refunds for unsuccessful transactions will be processed by 11:00 pm the same day.
- Window 4: Transactions between 11:01 am and 2:00 pm will have funds available by 8:00 pm the same day. Refunds for unsuccessful transactions will be processed by 11:00 am the next business day.
- Window 5: Transactions between 2:01 pm and 5:00 pm will have funds available by 11:00 pm the same day. Refunds for unsuccessful transactions will be processed by 11:00 am the next business day.
- After 5:00 pm: Funds will be credited on the next business day by 11:00 am. Refunds for unsuccessful transactions will be processed by 5:00 pm the next business day.
Non-Business Days (Saturday, Sunday, and Federal Territory Public Holidays):
- Funds will be available by 11:00 am on the next business day. Refunds for unsuccessful transactions will be processed by 5:00 pm the next business day.
Please note that the exact timing of funds availability may vary depending on the receiving Financial Institution.
What are the fees and charges for IBG Transfer via Bank Islam?
Here are the fees and charges for different banking services:
- GO Mobile Banking: RM0.10 per transaction
- Internet Banking: RM0.10 per transaction
- TAP Mobile Banking-i: RM0.10 per transaction
- ATM: RM0.30 per transaction
- Branch: RM0.30 per transaction
For basic current and savings accounts, the fees are as follows:
- First 2 transactions of the month: RM0.50 each
- Subsequent transactions: RM2.00 each
For other current, savings, and transactional investment accounts, the fee is RM2.00 per transaction.
What is the daily transaction limit for IBG transfer using Bank Islam?
Channels:
- GO Mobile Banking
- Internet Banking
- TAP Mobile Banking-i
- ATM
- Branch
Daily Transaction Limit:
- GO Mobile Banking: RM50,000 (shared limit)
- Internet Banking: RM50,000 (shared limit)
- TAP Mobile Banking-i: RM30,000 (shared limit)
- ATM: RM30,000 (shared limit)
- Branch: RM500,000
Payment Reference:
- Availability of payers’ names and payment references in beneficiaries’ bank statement:
- GO Mobile Banking: Yes
- Internet Banking: Yes
- TAP Mobile Banking-i: Yes
- ATM: Yes
- Branch (Hardcopy statement): Yes
- Availability of beneficiaries’ names and payment references in payers’ bank statement:
- GO Mobile Banking: Yes
- Internet Banking: Yes
- TAP Mobile Banking-i: Yes
- ATM: Yes
- Branch (Hardcopy statement): Yes
Recurring Payment:
- GO Mobile Banking: No
- Internet Banking: Yes
- TAP Mobile Banking-i: No
- ATM: No
- Branch: Yes
Future-Dated Payment:
- Note: All future-dated payments will be processed in Window 1 of the set date by the payer, subject to “Funds Availability.”
- GO Mobile Banking: No
- Internet Banking: Yes
- TAP Mobile Banking-i: No
- ATM: No
- Branch: Yes
Operating Hours:
- GO Mobile Banking: 24 hours
- Internet Banking: 24 hours
- TAP Mobile Banking-i: 6am – 12 midnight
- ATM: 24 hours
- Branch: Banking hours
Why does Bank Islam IBG transfer take so long?
In general, the time taken for a transfer to be completed can depend on various factors such as the amount being transferred, the destination bank, the time of day the transfer was initiated, and any technical issues that may arise during the process.
It is best to contact Bank Islam directly for more information on their IBG transfer process and any specific delays that may be occurring.
How do I check my Bank Islam IBG transfer status?
You can check the status of your Bank Islam IBG transfer by logging into your Bank Islam online banking account or by contacting Bank Islam customer service.
How do I know if Bank Islam my IBG transfer is successful?
You can check the status of your IBG transfer by logging into your Bank Islam online banking account or by contacting Bank Islam customer service.
They will be able to provide you with the status of your transfer and any other relevant information.
Can Bank Islam IBG transfer be cancelled?
Yes, Bank Islam IBG transfer can be cancelled if it has not been processed yet. However, once the transfer has been processed, it cannot be cancelled.
It is important to double-check the details of the transfer before submitting it to avoid any errors or mistakes. If you need to cancel a Bank Islam IBG transfer, you should contact the bank as soon as possible to request the cancellation.
What are the best practices in transferring money from Bank Islam to other banks?
Here are some general best practices for transferring money from Bank Islam to other banks:
1. Ensure that you have sufficient funds in your Bank Islam account to cover the transfer amount and any associated fees.
2. Verify the recipient’s bank account details, including the account number and routing number, to avoid any errors or delays in the transfer.
3. Choose a secure and reliable transfer method, such as online banking or mobile banking, that offers encryption and authentication to protect your personal and financial information.
4. Check the transfer limits and processing times for your chosen transfer method to ensure that your transfer will be completed within your desired timeframe.
5. Keep a record of your transfer confirmation and any reference numbers provided by Bank Islam or the recipient’s bank for future reference and tracking.
6. Monitor your Bank Islam account and the recipient’s account to ensure that the transfer has been completed successfully and without any issues.
