Interbank Money Transfer: IBG vs IBFT

Updated: January 3, 2024 / Home » Financial Plan » Banking

Effective 2 May 2013, the Interbank money transfer of Interbank GIRO (IBG) transfer charge is reduced to only RM 0.10.

However, the Instant Interbank Fund Transfer (IBFT) service charge is reduced to only RM 0.53 (Service fee RM0.50 + GST RM0.03) from Jun 2015.

Bank Negara Malaysia (BNM) said that the low IBG fee is a new pricing strategy to promote greater efficiency. Individuals enjoy the convenience of transacting anytime anywhere, avoiding the queues at bank counters.

Businesses can lower the costs of doing business through the reduction or redeployment of resources used for handling cash and cheques.


How much fee & GST do I have to pay for an IBG transaction?

Only the IBG transaction fee is subject to GST and not the amount of cash transferred. If you are using online banking for IBG transactions, you will be charged *RM 0.11, inclusive of GST (RM0.10 fee + RM0.01 GST).

However, most of the bank in Malaysia including RHB Bank and UOB Bank launched another similar service which is known as Instant Interbank Fund Transfer (IBFT).

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We can perform real-time fund transfer, credit card and loan payment. The transfer charge is RM 0.53 per transaction inclusive of Government and Service Tax (GST). We can transfer up to RM 30,000 daily with Instant transfer and our beneficiary can receive the money immediately.


So, be careful when you want to transfer money to other bank’s account.

Here is the comparison table between the IBG and IBFT.

Interbank GIRO transfer (IBG)Instant Interbank Fund Transfer (IBFT)
RM0.11 (Service fee RM0.10 + GST RM0.01)RM0.53 (Service fee RM0.50 + GST RM0.03)
Daily Transfer LimitRM 30,000RM 30,000
Weekday before 12pm, same day

Weekday after 12pm, next business day (NBD)

Weekend & public holiday, next business day (NBD)

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24 comments on “Interbank Money Transfer: IBG vs IBFT

  1. Eason foong 26-05-2020 [ Reply ]

    Ibg transfer nama salah tulis …akan return atau on juga

  2. Syarifah Hanum tanjung 13-02-2020 [ Reply ]

    HSBC transfer sy punya acc BSN dia guna IBFT kt situ accept processing tp bila dicheck duit blm masuk lg

  3. norashahniza sarip 24-01-2020 [ Reply ]

    kawan2 sy dah transfer dr cimb ke maybank pd 17.01.2020 . semuanya transaksi yg mereka dah buat betul tetapi hingga hari ini, 24.01.2020 sy masih belum menerima duit tersebut.

  4. Atia Puteri Aisyah 13-10-2019 [ Reply ]

    Macam mana nak buat kalau org dah transfer kt kita awal bulan 9/2019 tpi pertengahan bulan 10 masih belum masuk duit tu . Apa perlu sy buat ?

  5. Ikin 22-08-2019 [ Reply ]

    Kawan sye trnsfer IBG pada 18/8/2019 1.30pm.. dri CIMB KE PUBLIC BANK smpai skrg 22/8/2019 pun xtrime. lgi 1 kalau kira 1-3 waktu berkerja mmg dari acc penerima xnmpk kt float ke??

  6. Abdul nasir 27-02-2019 [ Reply ]

    Kwn saya bru transfer duit melalui mayban2u…IBFT ke bank rakyat…pada pukul 8.47mlm ni bile sye check bank rakyat saya…belum masuk lagi duit tersebut…proses transfer tersebut lulus..tetapi bank rakyat sya xda duit teraebut…

  7. Aepulz 11-02-2019 [ Reply ]

    Pada 4/2/2019 ada kawan tranfer duit 3500 pada bank saya iaitu ambank,kawan saya pakai maybank tranfer tapi tertekan ibg,tetapi sampai sekarang tidak masuk dalan akaun sy lagi kenape

  8. Finclan 28-01-2019 [ Reply ]

    Hi a friend transferred money to me using IBFT but I still haven’t received it. Been about 2 hours. How long should I have to wait for it?

  9. Zamilah Sulong 08-11-2018 [ Reply ]

    My sister transfer duit melalui cimbclicks ke akaun bsn…guna ibft smlm…smp skrg duit x msk2…

  10. Annn 29-10-2018 [ Reply ]

    Sama juga saya baru transfer dari CIMB ke Maybank semlm tngh hri smpai sekarang tak masuk lgy

  11. k 27-10-2018 [ Reply ]

    if my friend transfer money to me during weeend using IBG , do i need to wait for the weekdays to withdraw the money?

  12. Dz 25-06-2018 [ Reply ]

    Semalam lepaslepas kira2 jam 12.23tghmlm .kwn sya ada buat transfer melalui mesin ATM public bank ‘interbank giro ..trnsfer to Rhb bank? dlam brp hari msuk..?hari nie..selpas jam 11 am..sya cek tak belum msuk lgi?

  13. Anonymous 123 21-06-2018 [ Reply ]

    Ibft or ibg yg lbih cepat?

  14. wan farizan 20-02-2018 [ Reply ]

    Sy pom…br transfer guna IBG ke Maybank…bile cek..slps 5 jam blom masuk lg…so brp lame lg masa nk tunggu..

  15. Fiz 14-02-2018 [ Reply ]

    Ibg boleh cancel ke transaksi tu .. tersalah tekan plak

  16. Liam Malik 04-12-2017 [ Reply ]

    Hi a friend transferred money to me using IBFT but I still haven’t received it. Been about 2 hours. How long should I have to wait for it?

    • MisterLeaf 07-12-2017 [ Reply ]

      Transfer money using IBFT should be immediate unless your friend key in wrong account number.

      • sofiya 02-09-2018 [ Reply ]

        sama macam saya, saya pun guna ibft, dari maybank ke cimb, tetap x masuk lagi pun di cimb, nama dan num akaun dah betul..

  17. jai 18-07-2017 [ Reply ]

    klu kte nk transfer ke acc cimb ke bank islam ..tertransfer guna ibg ..wet kt acc dh cimb dh hilang ..i cek bank islam xdew msuk…mcm mner tu nk beza kn ibg dgn ibft…wet tu msuk ke x ke acc bank islam??

    • Sherry 14-08-2017 [ Reply ]

      IBG kan ada masa dia utk transfer. mmg dia dah deduct duit dlm akaun u. later bru duit akan masuk dlm bank islam. kalau u pakai IBFT baru immediate transfer from CIMB to Bank Islam. so means that pakai IBFT duit tu akan masuk terus. pakai IBG u kena tggu dlu.

      • yeh 13-10-2017 [ Reply ]

        bole tau, brapa lama kna tunggu?

  18. Amy 02-03-2015 [ Reply ]

    thanks.. Really help me out.. Good info.. (^_^)

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