IBG transfer is a popular method of transferring funds in Malaysia, and Standard Chartered Bank Malaysia offers this service to its customers. IBG stands for Interbank Giro, which is a system that allows customers to transfer funds between different banks in Malaysia.
This convenient, fast, and secure service makes it a popular choice for individuals and businesses alike.
How long does IBG transfer take for Standard Chartered Bank Malaysia?
Below is the amount of time taken to transfer the money using Standard Chartered Bank Malaysia via IBG:
- SCB IBG Transfer Crediting time (under normal circumstances):
- Monday – Friday:
- Before 5.00am: Same business day by 11.00am
- 5.01am – 8.00am: Same business day by 2.00pm
- 8.01am – 11.00am: Same business day by 5.00pm
- 11.01am – 2.00pm: Same business day by 8.20pm
- 2.01pm – 5.00pm: Same business day by 11.00pm
- After 5.00pm: Next business day by 11.00am
- Non-business days: Next business day by 11.00am
- Monday – Friday:
- SCB IBG Refund time (under normal circumstances):
- Monday – Friday:
- Before 5.00am: Same business day by 5.00pm
- 5.01am – 8.00am: Same business day by 8.20pm
- 8.01am – 11.00am: Same business day by 11.00pm
- 11.01am – 2.00pm: Next business day by 11.00am
- 2.01pm – 5.00pm: Next business day by 11.00am
- After 5.00pm: Next business day by 5.00pm
- Non-business days: Next business day by 5.00pm
- Monday – Friday:
- Fees and Charges (RM per transaction):
- Internet banking: FREE
- Mobile banking: FREE
- ATM: NOT OFFERING
- Over-the-counter (OTC): RM0.53
- Daily transaction limit (RM per day):
- Internet banking: RM30,000 combined limit with IBFT and intrabank funds transfer
- Mobile banking: Non-resident – RM10,000 combined limit with IBFT and intrabank funds transfer
- ATM: NOT APPLICABLE
- Over-the-counter (OTC): RM1 MILLION
- Payment reference:
- Availability of payers’ names and payment references in beneficiaries’ bank statement payment references in payers’ bank statement:
- Internet banking: YES
- Mobile banking: YES
- ATM: NOT APPLICABLE
- Over-the-counter (OTC): YES
- Availability of beneficiaries’ names and payment references in payers’ bank statement:
- Internet banking: YES
- Mobile banking: YES
- ATM: NOT APPLICABLE
- Over-the-counter (OTC): YES
- Availability of payers’ names and payment references in beneficiaries’ bank statement payment references in payers’ bank statement:
- Future-dated payments:
- Internet banking: YES
- Mobile banking: YES
- ATM: NOT APPLICABLE
- Over-the-counter (OTC): NO
- Operating hours:
- Internet banking: 24 HOURS
- Mobile banking: 24 HOURS
- ATM: 24 HOURS
- Over-the-counter (OTC): Banking hours as below:
- Teller: 9.15am – 3.45pm (Mon – Fri)
- Personal Financial Consultant: 9.15am – 5pm (Mon – Thurs); 9.15am – 4pm (Fri)
In general, IBG (Interbank GIRO) transfers for Standard Chartered Bank Malaysia typically take between 1 to 2 working days to be processed.
However, the exact time may vary depending on the time the transaction is initiated and the recipient’s bank.
Why does Standard Chartered Bank Malaysia IBG transfer take so long?
In general, IBG transfers may take longer than other types of transfers because they are processed in batches and may require additional verification steps.
The processing time may also depend on the receiving bank’s internal processes and the time of day the transfer was initiated.
It is recommended to check with the bank for specific information on the processing time for IBG transfers.
How do I check my Standard Chartered Bank Malaysia IBG transfer status?
You can check the status of your Standard Chartered Bank Malaysia IBG transfer by following these steps:
- Log in to your Standard Chartered Bank Malaysia online banking account.
- Click on the “Transfers” tab.
- Select “Transaction History” from the drop-down menu.
- Choose the account from which you made the IBG transfer.
- Look for the transaction in the list and check its status. If the status is “Completed,” the transfer has been successful. If the status is “Pending,” the transfer is still being processed.
Alternatively, you can contact Standard Chartered Bank Malaysia customer service to inquire about the status of your IBG transfer.
How do I know if Standard Chartered Bank Malaysia my IBG transfer is successful?
You can check the status of your IBG transfer by logging into your Standard Chartered Bank Malaysia online banking account or by contacting their customer service hotline.
You should receive a confirmation message or email once the transfer is successful.
Can Standard Chartered Bank Malaysia IBG transfer be cancelled?
Yes, Standard Chartered Bank Malaysia IBG transfer can be cancelled if the transaction has not been processed yet.
However, the transaction cannot be cancelled if it has already been processed. It is important to double-check all details before initiating a transfer to avoid any errors or mistakes.
What are the best practices in transferring money from Standard Chartered Bank Malaysia to other banks?
Here are some general best practices for transferring money from Standard Chartered Bank Malaysia to other banks:
1. Ensure that you have the correct recipient bank details, including the bank name, account number, and routing number or SWIFT code.
2. Check the transfer fees and exchange rates before initiating the transfer. Standard Chartered Bank Malaysia may charge a fee for outgoing transfers, and the exchange rate may affect the final amount received by the recipient.
3. Choose the appropriate transfer method based on your needs and the recipient’s location. Standard Chartered Bank Malaysia offers various transfer options, including online banking, mobile banking, and wire transfers.
4. Double-check the transfer details before submitting the transaction. Make sure that the recipient’s information is accurate and that you have sufficient funds in your account to cover the transfer.
5. Keep track of the transfer status and follow up with the recipient to confirm that the funds have been received. If there are any issues or delays, contact Standard Chartered Bank Malaysia’s customer service for assistance.
