Interbank GIRO Fees Revise | Ramblings of an e-trader

Saturday, 27 April 2013

Interbank GIRO Fees Revise

Good news if you are always sending money between banks, either to your own accounts or to other people. I sometimes have to do so, to make payments or to send money to my parents. 

Well, whatever the case, the good news is that beginning 2nd May, it is a lot cheaper to do so as the fee has been reduced to just 10sen per transaction. Do note that some banks may charge a slightly different rate. 

This revision is in line with Bank Negara's new guidelines, to encourage us to make more online (paperless) transactions. 

At the same time, cheque issuers have to pay more instead.


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