Are There Transaction Limits or Fees for IBG Transfers?

Transaction limits vary by bank and channel. For example, HSBC Malaysia sets limits as follows:

• Online banking and mobile apps: up to RM50,000 per day
• ATM: up to RM5,000 per transaction
• Branch: up to RM1,000,000 per transaction

Fees are generally low:

• Internet and mobile banking transfers typically cost around RM0.10 to RM0.11 per transaction.
• Over-the-counter transactions may incur higher fees, ranging from RM0.50 to RM2.00 per transaction, depending on the bank.
• Senior citizens and disabled persons may be exempt from fees for over-the-counter IBG transactions.

Check with your bank for specific limits and fees applicable to your account type.