Bank Negara governor, Tan Sri Muhammad Ibrahim announced that starting the 1st July 2018, the Instant Transfer fee of 50 sen (53 sen including GST) will be waived for up to RM5,000 per transaction by individuals and SMEs. This is great news for interbank transfers because not only will you be able to make the transaction instantly, you also don’t have to pay a fee.
However, there was no mention for regular Interbank Giro (IBG) transactions. So, if you plan to transfer more than RM5,000 and don’t mind waiting, IBG will still save you a few sen.
However, starting 2 January 2021, the cheque fee will be increased from 50 sen to RM1 starting from 2nd Januar because of the high processing cost.
With the Instant Transfer fee being waived off, people who do interbank transfers will not only not have to pay any additional charge but will also be able to make the transaction instantly
So from 1 July 2018, you will be saving 53 sen (50 sen Instant Transfer fee + 3 sen GST) for transactions up to RM5,000 per transaction.
No comments:
Post a Comment