MEPS INTERBANK GIRO

MEPS Inter-bank GIRO (MEPS IBG) is an electronic fund transfer payment system which allows transfer of funds between financial institutions without raising physical supporting documents such as cheques. This service reduces the crediting time between accounts especially out-of-town transactions.

The transactions allowed by MEPS IBG are as follows:-

• Fund transfer or debit bank account of up to a maximum of RM100,000 per transaction.

• Fund transfer to bank accounts of participating banks.

• Financing repayments and credit card payments of participating banks.

RM0.50 is charged for first two transactions and RM2.00 for consecutive transactions.