Interbank transfer fees for CIMB

Interbank transfer (IBG) fees had been reducing from RM 2 to RM 0.10 since May 2013. This is a effort by our Malaysia Government to push the online banking service to more people. This is my first time that using the service with the RM 0.10 transaction fees.

 

CIMB Fund transfer

Even though the transaction fees already reduce from RM 2 to RM 0.10, but the bank still have another way to make money from the interbank transfer transaction fees, where they provide 2 difference choices for their client, the first selection is RM 0.10 with 1-2 days of waiting period, another selection is instant transaction with RM 2 per transfer.

 

 

CIMB Transfer Charges

Debiting Account Type
Transfer Charges
IBG Instant Transfer
All Savings & Current Accounts RM0.10 RM2.00
Schedule Transactions for all Savings & Current Accounts RM4.00

Transfer Schedule

Transfer Day Transfer Time Funds Available at Beneficiary Bank
IBG Instant Transfer
Monday – Friday Before
12:00 noon
Same day Immediate
After
12:00 noon
Next business day Immediate
Saturday, Sunday, Federal Territory Public Holiday Anytime Next business day Immediate

 

It is good that we can plan our thing early, including fund transfer, if the time is not the critic, than 2 days transfer which save you RM 1.90 is always the best choice.

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