Alliance Bank Interbank Giro charge 10 cents instead of previously charge RM 1.
This is a good policy for me since EVERY month I need to use alliance bank to pay for my
OCBC titanium credit card.
BRAVO.
KUALA LUMPUR: Effective May 2 2013, the fee for online Interbank GIRO (IGB) transactions will be at 10 sen from the current charge of between 50 sen and RM2, said Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz yesterday.
This is part of the plan to encourage users to switch from other costly payment methods, such as the use of cheques, to lower cost alternatives.
Zeti said a period of one year is given for the public and businesses to adjust and migrate to IGB for payment transactions.
By 2014, IGB will reach recipients within two hours instead of the current one working day period.
Meanwhile, effective April 1 next year, banks will charge a cheque processing fee of 50 sen on the cheque issuer, on top of the existing stamp duty of 15 sen per cheque leaf.
Zeti said a period of one year is given for the public and businesses to adjust and migrate to IGB for payment transactions.
By 2014, IGB will reach recipients within two hours instead of the current one working day period.
Meanwhile, effective April 1 next year, banks will charge a cheque processing fee of 50 sen on the cheque issuer, on top of the existing stamp duty of 15 sen per cheque leaf.
In addition to cheques and IBG, adjustments in pricing for other payment channels and methods, including automatic teller machines, will be phased in progressively.
By the year 2020, the pricing of all payment services will be based on the cost of providing the service, she said.
Read more: Online Interbank GIRO transactions fee to cost 10 sen http://www.btimes.com.my/Current_News/BTIMES/articles/cekki/Article/#ixzz2S3IMK84U