Immediate Interbank Fund Transfer

The Interbank GIRO (IBG) transfer charge is reduced to only RM 0.10 since 2nd May 2013. Maybank2u recently launched another similar service which is known as Immediate Interbank Fund Transfer (IBFT).

With the Immediate Interbank Fund Transfer, you can perform real-time fund transfer, credit card & loan payment. The transfer charge is RM 2.00 per transaction. Let's have a quick overview on the differences between IBG and IBFT from below table:

Item	IBG	IBFT
Transfer Charge	RM 0.10	RM 2.00
Transaction Limit	RM 5000 per transaction  (shared total limit for IBG and IBFT is RM 10000 daily)
Transfer Schedule	Weekday before 12pm, same day Weekday after 12pm, next business day (NBD) Weekend & public holiday, NBD	Immediate
Account Verification	N/A	Key in beneficiary account number, account holder name will be displayed

This is the list of the participating banks. It is really a very convenient tool in case you forget to perform IBG earlier for your credit card or loan payment which is due the next day.