IBG Transfer Al-Rajhi Bank Malaysia

Now, with just a click of a button, one can easily manage their internet banking with Al Rajhi Bank’s conveniently flexible, hassle-free, online Interbank GIRO (IBG) services. These services can be used anytime, anywhere.

The alrajhi@24seven Interbank GIRO (IBG) services offered by Al Rajhi Bank provide two types of transactions:

  • Incoming Transactions: Al Rajhi Bank accepts all transactions, whether from Islamic or Non-Islamic Banks.
  • Outgoing Transactions: Al Rajhi Bank accepts only Islamic Transactions based on Shariah Ruling No.81. It’s crucial that one reads and understands the T&C acknowledgement and instruction screen before commencing with any online IBG transaction.

How long does IBG transfer take for Al-Rajhi Bank Malaysia?

The IBG (Interbank GIRO) transfer for Al-Rajhi Bank Malaysia typically takes between a few minutes to a few hours, depending on the time the transaction is initiated.

If the transaction is made within the bank’s operating hours, it should be processed on the same day. However, if it is made outside the operating hours, on weekends, or public holidays, the transfer may take longer, possibly up to the next working day.

Why does Al-Rajhi Bank Malaysia IBG transfer take so long?

Generally, IBG transfers may take longer than other types of transfers because they are processed in batches and may require additional verification steps.

The processing time may also depend on the receiving bank’s policies and procedures. It is recommended to check with Al-Rajhi Bank Malaysia for more information on their specific processing times for IBG transfers.

What is the handling fees of IBG transfer in Al-Rajhi Bank Malaysia?

Al-Rajhi Bank imposes handling charges on different types of accounts. For both Basic Account (Qard) and Non-Basic Account (Mudharabah), the bank charges a fee of RM0.10 per transaction.

It should be noted that these fees are inclusive of 0% Goods and Services Tax (GST) for both Basic and Non-Basic Banking account holders.

Furthermore, these fees are reset on the first day of every month.

How do I check my Al-Rajhi Bank Malaysia IBG transfer status?

You can check the status of your Al-Rajhi Bank Malaysia IBG transfer by logging into your online banking account or contacting the bank’s customer service hotline.

How do I know if Al-Rajhi Bank Malaysia my IBG transfer is successful?

You can check the status of your IBG transfer by logging into your Al-Rajhi Bank Malaysia online banking account or by contacting their customer service hotline.

You should receive a confirmation message or email once the transfer is successful.

Can Al-Rajhi Bank Malaysia IBG transfer be cancelled?

Yes, Al-Rajhi Bank Malaysia IBG transfer can be cancelled if the recipient has not yet received the funds.

The cancellation can be done through the bank’s online banking platform or by visiting a branch.

However, if the funds have already been credited to the recipient’s account, the transfer cannot be cancelled.

What are the best practices in transferring money from Al-Rajhi Bank Malaysia to other banks?

I don’t have personal experience or opinions, but here are some general best practices for transferring money from Al-Rajhi Bank Malaysia to other banks:

  1. Ensure that you have the correct recipient bank details, including the bank name, account number, and routing number (if applicable).
  2. Check the exchange rate and fees for the transfer. Al-Rajhi Bank Malaysia may charge a fee for international transfers, and the exchange rate may vary depending on the currency and destination country.
  3. Consider using a secure online banking platform or mobile app to initiate the transfer. This can help ensure that your personal and financial information is protected.
  4. Double-check the transfer details before submitting the transaction. This can help prevent errors or delays in processing.
  5. Monitor the transfer status and follow up with the recipient bank if necessary. If the transfer is delayed or there are any issues, contact Al-Rajhi Bank Malaysia customer service for assistance.

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