Transfer To Other Bank

 

1. What is Transfer To Other Bank?

Transfer To Other Bank is a service of remitting funds and payment from your own AmBank and/or AmBank Islamic account to other Banks account. AmOnline currently offers Interbank GIRO (IBG) and Instant Transfer services for Transfer To Other Bank.

2. What is the difference between “IBG” and “Instant Transfer”?

IBG

IBG is a remitting funds service which is not reflected immediately to the beneficiary’s account.

Instant Transfer

Instant Transfer is a remitting funds service which will be reflected immediately to the beneficiary's account.

3. How long is the processing time for Transfer To Other Bank?

Kindly refer the following table for the processing time for Transfer To Other Bank

 

4. What is the maximum daily transaction limit for Transfer to Other Bank?

The maximum daily transaction limit is RM 50,000.00, combined transaction limit between IBG and Instant Transfer. By default, the daily transaction limit is set at RM 5,000.00. However, for non – resident account (non-exempted), the maximum daily transaction limit is RM 10,000.00 for IBG and Instant Transfer.

5. How much are the transaction charges for Transfer to Other Bank?

 

 
6. How do I Transfer to Other Bank?

You can transfer funds to other Banks to your “Favourites account” or “Non-Favourite”. Kindly refer the step below:

  • After login into your AmOnline, select “Pay and Transfer” then “Transfer to Other Bank”.
  • Select your account to deduct the funds from the “From” dropdown and then select the account from the “To” dropdown if it is already in your favourites or for a new account, select “Non-Favourite”.
  • Insert the amount you want to transfer then select method of transfer – IBG or Instant Transfer.
  • Next select “One-Time” or “Repeat”. Please refer to “FAQ-Scheduled Payment” section for more information about “One-Time” and “Repeat”.

Important Notes:

  • Please ensure that you have keyed in the correct information before submitting the IBG or Instant Transfer transaction.
  • If you require the Beneficiary's ID no. to be validated with the beneficiary's account number by beneficiary's bank, please key in the ID No. correctly. The ID No. must be the same as maintained at the beneficiary's bank.
  • Beneficiary’s ID is optional, if you do provide the beneficiary’s ID your IBG or Instant Transfer transaction will still be processed and sent to beneficiary's bank. However, beneficiary's bank will validate your beneficiary's account number ONLY. It is best practice to always key in this information as it helps to avoid error in remitting fund into a wrong account number at beneficiary's bank.
  • After that, you have to insert the transfer reference details for yourself and for the recipient. Click “Next” to review the details.
  • Then “Request TAC” for verifications and select “Confirm” to execute the transaction. In the event that the beneficiary’s name does not appear, the MEPS service might be unavailable. You may still proceed with IBG transaction, however if the MEPS service is unavailable the Instant Transfer will also be unavailable.
7. Can I pay other Bank’s Credit Card / Loan Financing using Transfer to Other Bank?

Yes, you can use IBG fund transfer or Instant Transfer to perform credit card and loan payment to other banks.

8. How do I pay other Banks Credit Card / Loan Financing with Transfer To Other Bank?

Please refer step below:

  • Login to AmOnline and click "Pay and Transfer" tab on the menu. Then click on the “Transfer Other Bank”.
  • Select your account to deduct the funds from the “From” dropdown and then select the account from the “To” dropdown if it is already in your favourites or for a new account, select “Non-Favourite”.
  • Then insert the amount. Select IBG as the transfer method. You will then have the option to insert the recipient’s ID no if you would like to verify the ID no.

Important Notes:

  • Please ensure that you have keyed in the correct information before submitting the IBG or Instant Transfer transaction.
  • If you require the Beneficiary's ID no. to be validated with the beneficiary's account number by beneficiary's bank, please key in the ID No. correctly. The ID No. must be the same as maintained at the beneficiary's bank.
  • Beneficiary’s ID is optional, if you do provide the beneficiary’s ID your IBG or Instant Transfer transaction will still be processed and sent to beneficiary's bank. However, beneficiary's bank will validate your beneficiary's account number ONLY. It is best practice to always key in this information as it helps to avoid error in remitting fund into a wrong account number at beneficiary's bank.
  • Then select “One-Time” or “Repeat”. Please refer to “FAQ-Scheduled Payment” section for more information about “One-Time” and “Repeat”.
  • Click the "Next button" and confirm all the details displayed and request for TAC. Click "Submit" to execute the payment.
9. Can I perform scheduled payment for Transfer to Other Bank?

Yes, you can perform scheduled payment for Transfer to Other Bank. Please refer to “FAQ-Scheduled Payment” section for more information.

10. How do I view the details of my past payment transactions?
  • Select the account you want to view the detail in Account Summary page
  • Click on the top of account name example SA Basic to view your account details
11. What if I do not have sufficient funds in my account?

If you are making a payment, you will see an 'Unsuccessful' message and reject code that informs you of insufficient funds. If it is a 'Scheduled Payment', your payment will not go through on the scheduled date.