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How does it work?
For individual customers, there are three options:
Option 1 - Internet banking
- Customers can make interbank fund transfer and payment via MEPS IBG through their preferred Internet Banking websites.
Option 2 - Via bank branch
- Visit any IBG participating bank branch and fill in the Interbank GIRO form. The details required for the form include beneficiary's name, account number and the amount to be transferred.
- Upon completion of the form and an indication of the mode of payment i.e. cash or direct debiting from current/savings account, the bank will process your request.
- The funds will be available in the beneficiary's account latest by 9 a.m on the next working day.
Option 3 - Phone Banking
- Customers can also make use of Phone Banking services provided by IBG participating banks (selected banks) for their IBG services requirement.
For corporate customers :
Fund transfers can be made through only IBG participating banks via pre-agreed media such as CD, diskette, lease line, Internet or any other electronic means accepted by the bank. The fund will be made available in the beneficiary's account latest by 9.00 am on the next working day.
Which financial institution is offering the MEPS IBG service?
You can go to any of these financial institutions:
- Affin Bank
- Alliance Bank
- AmBank
- Bank Islam
- Bank Muamalat
- Bank Rakyat
- Bank Simpanan Nasional
- CIMB Bank
- Citibank
- Deutsche Bank
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- EON Bank
- Hong Leong Bank
- HSBC Bank
- Maybank
- OCBC Bank
- Public Bank
- RHB Bank
- Royal Scotland Bank
- Standard Chartered Bank
- UOB Bank
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Who can use the MEPS IBG service?
All IBG participating banks' customers and corporations can use this service.
Is there a maximum amount that I can transfer using the IBG service?
- For fund transfer and payment via bank branch, the maximum amount for each transfer is RM100,000.00.
- For fund transfer and payment via Internet banking the maximum amount is subject to individual banks' Internet banking terms and conditions.
How much is the IBG fee to the customer/corporation?
The fee is subject to the individual bank's terms and condition.
Who pays for the fees?
The fee will be levied to the customer/corporation who initiates the payment.
How do I prove that I have made a payment via IBG?
- Payment via bank branch: You will receive a duplicate copy of the MEPS IBG form.
- Payment via Internet banking : You are advised to print the online electronic acknowledgement page from your Internet Banking website.
What happens if I have insufficient funds in my bank account?
The transaction will be rejected.
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