Difference Between Ibg And Instant Transfer

Instant transfers also known as ibft payments are processed immediately without any cut offs or delays during the weekends and non working days.

Difference between ibg and instant transfer. Ibg is a delayed funds transfer without validation on the beneficiary account number and name. For interbank fund transfer via atm the recipient account will be credited immediately and you need to confirm the recipient s name displayed at the atm. Effective 2 may 2013 the interbank money transfer of interbank giro ibg transfer charge is reduced to only rm 0 10. Ibg transfers on the other hand are not instant and take a set of time as we ve already seen.

What is the difference between interbank giro ibg and instant transfer. What is difference between instant transfer and interbank giro. Even if you do the transfer during non working days it will be processed and delivered to the intended recipient. Well instant transfer will be processed right away without any delay or cut off.

However the instant interbank fund transfer ibft service charge is reduced to only rm 0 53 service fee rm0 50 gst rm0 03 from jun 2015.