Good news! With effect from 1st October until 31st December, 2015 for those using Internet and Mobile Phone to make online payments, the Malaysian Electronic Payment System Sdn Bhd (MEPS) and it's member participating banks have waived the transfer fee for Inter-Bank Fund Transfer (IBFT). (Prior to that certain banks charged RM2.50 per transaction for IBFT service) The move is to encourage more people to pay online and less use cheques.
However, if you use IBFT service via the Automated Teller Machines (ATM) you still require to pay the transfer fee which at present is RM0.50.
In case you don't know what is IBFT? The IBFT allows instant or immediate fund transfer between MEPS' member banks.
Therefore, wait no more! start to use the IBFT service today ! This is also another way of helping you to save unnecessary bank charges.
Hope you find the above info useful and thank you for reading my blog. :)
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