Floating money in RHB, or RHB Bank Berhad, is a concept that refers to the temporary holding of funds in a transaction process. RHB Bank, one of the largest banks in Malaysia, uses this banking mechanism to manage and process transactions between different accounts or banking institutions.
It’s quite disappointing to see that your money is still “floating” in your RHB account. This term usually applies when a check or other payment is being processed, and the funds are “floating” or not accessible in the recipient’s RHB account.
What does floating money in RHB means?
The term “floating money” often refers to the period of time between when a deposit is made and when the funds are actually available for use. This can occur due to processing times in banks.
It could refer to a pending transaction, the period of time during which a check is being processed, or even an investment product.
For accurate information, it would be best to contact RHB Bank directly.
How to check floating money in RHB?
To check floating money in your RHB Bank account, you should follow these steps:
- Log in to your RHB online banking account either on the website or through the RHB Mobile Banking application.
- Once logged in, check your account summary. This should give you an overview of all your accounts.
- Click on the account for which you want to check the floating money.
- The detailed account information should show you the available balance and the account balance. The difference between these two is typically considered the ‘floating’ money. It is the amount that is currently in processing or not yet available for use.
Note: If you’re unable to see this information or you’re unsure, please contact RHB customer service directly for assistance. They may provide a more specific process if it differs from the abovementioned steps.
Is floating RHB money and floating RHB cheque the same?
Floating RHB money and floating an RHB cheque are not exactly the same, but they are related concepts.
“Floating money” can refer to the time it takes for money to be transferred from one account to another, during which time the money is considered to be “in transit” or “floating”.
If you write an RHB cheque, the cheque amount is not immediately deducted from your account. It will only be deducted when the cheque is deposited and cleared by the bank where the payee is depositing it.
This time period, between when the cheque is written and when the amount of the cheque is deducted from the account, is also often referred to as the “float””.
However, note that the float period has significantly decreased with the advancement of technology and increased speed of electronic transactions.
The concept of floating money is more relevant to paper cheques, which take time to clear, as opposed to electronic transfers, which usually happen instantaneously or within a very short time.
It’s always good to ensure that you have sufficient funds in your account before writing a cheque to avoid any possible penalties for bounced cheques due to insufficient funds.
How can I check my pending transactions in RHB?
The best way to check your pending transactions in RHB (RHB Bank Berhad) is through online banking or their mobile app. Here are the steps:
Online Banking:
- Go to the RHB Bank’s official website.
- Login with your username and password.
- Navigate to your account details page.
- Here you should be able to see the list of your recent and pending transactions.
Mobile Banking:
- Download the RHB Mobile Banking application from the App Store or Google Play Store.
- Log in to the app using your banking credentials.
- Navigate to your account details page.
- Your pending and recent transactions should be listed there.
Please note that if you cannot find your pending transactions or have any issues, you should contact RHB Bank’s customer service for assistance.
Why is RHB transfer on hold?
There can be a variety of reasons why a transfer might be on hold:
- Insufficient funds: If the account doesn’t have enough money to cover the transaction, it could be put on hold.
- Suspicious activity: If the bank’s systems detect something unusual about the transaction, they might hold it for further investigation.
- Technical issues: Sometimes, problems with the bank’s systems can cause transactions to get stuck.
- Information discrepancy: If the sender’s or receiver’s information doesn’t match what the bank has on file, the transaction might be halted.
To resolve the issue, you should contact RHB Bank directly. They can provide the most accurate and up-to-date information about your specific situation.
What should I do if the money still floating in RHB Online Banking?
If your money is still showing as “”floating”” in your RHB online banking account, it’s likely that the transaction is still being processed. Here’s what you can do:
- Wait: Sometimes, it takes a few minutes to a few hours for the transaction to go through, especially if it’s a large sum or if it was done outside of regular banking hours.
- Check Transaction Details: Verify if the details about the receiving account are correct. If you’ve made an error, you’ll need to contact the bank right away.
- Contact Customer Service: If the money is still floating after a considerable time, you should contact RHB Bank’s customer service directly. You can reach them at their general line for assistance.
- Visit a Branch: If you’re still having trouble, you may need to visit your nearest RHB branch and speak to a representative in person.
When you contact your bank, remember to have all relevant information ready (like account number, transaction ID, etc.).
Also, never share your personal banking details over insecure networks or with unknown individuals.