Products

Customer Facilities / MEPS Instant Transfer (IBFT)
This service allows customers to transfer funds to/from savings/current account at other banks with i-Rakyat and ATM machines involved in the MEPS IBFT
INDIVIDUAL
ITEMS CHANNELS
IRAKYAT MOBILE BANKING ATM
Fees and Charges (RM per transaction) RM0.50   RM0.50
Daily transaction limit (RM per day)

RM50,000 (combined limit with IBG)

  RM50,000 combined limit
Payment reference      
Availability of payee's name and transaction in beneficiaries' bank statement. Not offering   Yes
Availability of beneficiaries' names and payment references in payers' bank statement Not offering   No
Operating hours 24hrs   24hrs
NON INDIVIDUAL
ITEMS CHANNELS
IRAKYAT COMMERCE MOBILE BANKING ATM
Fees and Charges (RM per transaction)
Sole-proprietors, partnership, SME 1 and Other corporate

Not offering

  Not offering
Maximum Transaction Limit (RM per transaction)      
Sole-proprietors, partnership and SME 1 and Other Corporate Not offering   Not offering
Payment reference
Availability of payee's name and transaction in beneficiaries' bank statement. Not offering   Not offering
Availability of beneficiaries' names and payment references in payers' bank statement Not offering   Not offering
Operating hours Not offering   Not offering

1. For manufacturing sector, sales turnover not exceeding RM50 mil or full-time employees not exceeding 200 workers; for services and other sectors, sales turnover not exceeding RM20 mil or full-time employees not exceeding 75 workers

Note: *6% GST is paid by Bank Rakyat.
Charge stated is including 6% GST, if any

Customers can also make financing payments and credit cards through ATMs involved with IBFT MEPS. Banks involved are:

LIST OF BANK AUTHORIZED TRANSACTION TYPE
SAVINGS/CURRENT ACCOUNT CREDIT/FINANCING REPAYMENT/FINANCING
Affin Bank
Agrobank
Al Rajhi Bank
Alliance Bank
AmBank
Bank Islam
Bank Muamalat Malaysia Berhad
Bank Rakyat
Bank Simpanan Nasional
CIMB Bank
Citibank
Hong Leong Bank
HSBC
Kuwait Finance House
Maybank
OCBC
Public Bank
RHB Bank
Standard Chartered
UOB

Transactions are in real-time online where the funds will be credited to the payee's account as soon as the transfer process is completed.

CREDITING TIME RECEIVED BY THE BENEFICIARY
INDIVIDUAL NON INDIVIDUAL
Monday - Friday Immediate Not offering
Non-business days Immediate Not offering

Limit cash withdrawals/transfers IBFT allowed is within the limit of cash withdrawals/transfers IBFT set by the bank/financial institution card holders.

The published rates, fees and charges are effective from 1st November 2018 following the implementation of 6% SST from 1st September 2018. Terms & conditions apply.

For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.

*Terms and conditions apply.