MEPS Interbank GIRO (Launched in 2000)

MEPS Interbank GIRO (MEPS IBG) makes interbank funds transfer more convenient to bank customers via an electronic channel. It enables payments to be made without the need to raise physical supporting vouchers or documents such as cheques, bank drafts, etc.

MEPS IBG is an inter bank fund transfer system that facilitates payments and collections via the exchange of digitized transactions between banks. For corporations, it is ideal for high volume inter-bank payments up to a maximum of RM500,000 per transaction such as payroll and loan repayments. As for individuals, MEPS IBG interbank fund transfer is ideal for transactions such as credit card payments and dividend/warrant payments.

It offers bank customers, be an individual or corporations, a secure interbank fund transfer system/channel for all sorts of payments through direct debiting of the customers’ account(s) and crediting into the beneficiaries account; with any MEPS IBG participating banks.

Key benefits:

  • Less risk: No need for cheques or cash payments.
  • Better cash management : Accurate record of all collections and payment made.
  • Operational efficiencies: For corporations, accounting reconciliations will be reduced and simplified, thus freeing staff for more productive work.
  • Secure: MEPS IBG transactions are encrypted and the services conform to Bank Negara Malaysia’s strict security requirements.

View FAQ