how to transfer money through cimb to other banks

5 Easy Ways to Transfer Money Through CIMB to Other Banks in Malaysia

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Transferring money from your CIMB account to other banks in Malaysia is a straightforward process, thanks to CIMB’s online banking services. Whether you need to pay bills, send money to family or friends, or make online purchases, you can do it conveniently and securely. Here are five easy ways to transfer money through CIMB to other banks in Malaysia:

1. Transfer Money via IBG (Interbank GIRO)

IBG, or Interbank GIRO, is a commonly used method for transferring funds between banks in Malaysia. It allows you to transfer money from your CIMB account to accounts in other participating banks. IBG transfers are processed in batches and typically take one working day to complete. Here’s how to do it:

For Favorite Transfer to Other Bank:

  • Select “Pay & Transfer” > “Transfer Money.”
  • Click on the “Search” button to retrieve your favorite recipient.
  • Choose the “Transfer Method” (IBG/DuitNow to Account, previously known as Instant Transfer).
  • You can verify the recipient’s identity by entering their name, ID type, and ID number.
  • Select the payment type (Fund Transfer, Loan, or Credit Card).
  • Choose the account from which you want to transfer funds.
  • Enter the transfer amount, date, and recipient’s reference (mandatory).
  • Confirm all transfer details and click “Request TAC.”
  • Once done, you can opt to print the acknowledgment reference.

For Open Transfer to Other Bank:

  • Select “Pay & Transfer” > “Transfer Money.”
  • Click on the “Search” button to enter the recipient’s name, account number, or DuitNow ID, then click “Proceed.”
  • Choose “To Other Bank’s or E-Wallet” as the transfer type.
  • Select the recipient’s bank name.
  • Choose the transfer method (IBG/DuitNow to Account).
  • You can verify the recipient’s identity by entering their name and DuitNow ID.
  • Select the account from which you want to transfer funds.
  • Enter the transfer amount and date.
  • Confirm all transfer details and click “Request TAC.”
  • Once done, you can opt to print the acknowledgment reference.

2. Transfer Money via DuitNow

DuitNow is a real-time fund transfer service that allows you to send money instantly from your CIMB account to any participating bank account or e-wallet in Malaysia. You can use the recipient’s mobile number, NRIC number, passport number, or business registration number for DuitNow transfers. This service is free of charge. Here’s how to do it:

For Favorite Transfer to Other Bank:

  • Select “Pay & Transfer” > “Transfer Money.”
  • Click on the “Search” button to retrieve your favorite recipient.
  • Choose the “Transfer Method” (IBG/DuitNow to Account).
  • You can verify the recipient’s identity by entering their name and DuitNow ID.
  • Choose the account from which you want to transfer funds.
  • Enter the transfer amount and date.
  • Confirm all transfer details and click “Request TAC.”
  • Once done, you can opt to print the acknowledgment reference.

For Open Transfer to Other Bank:

  • Select “Pay & Transfer” > “Transfer Money.”
  • Click on the “Search” button to enter the recipient’s name, account number, or DuitNow ID, then click “Proceed.”
  • Choose “To Other Bank’s or E-Wallet” as the transfer type.
  • Select the recipient’s bank name.
  • Choose the transfer method (IBG/DuitNow to Account).
  • You can verify the recipient’s identity by entering their name and DuitNow ID.
  • Select the account from which you want to transfer funds.
  • Enter the transfer amount and date.
  • Confirm all transfer details and click “Request TAC.”
  • Once done, you can opt to print the acknowledgment reference.

3. Transfer Money via QR Pay

QR Pay is a feature that allows you to make instant transfers from your CIMB account to other banks and e-wallets by scanning a QR code. This method is fast and free. Here’s how to do it:

  • Select “Pay & Transfer” > “QR Pay.”
  • Scan the recipient’s QR code or select from your QR favorites.
  • Enter the transfer amount and date.
  • Confirm all transfer details and click “Request TAC.”
  • Once done, you can opt to print the acknowledgment reference.

4. Transfer Money via CIMB Pay

CIMB Pay enables you to link your CIMB debit or credit card to your CIMB Clicks mobile app. You can use your phone to make contactless payments at terminals in Malaysia and abroad. CIMB Pay transfers are processed in real-time and may incur fees and charges associated with your card. Here’s how to use it:

  • Select “Pay & Transfer” > “CIMB Pay.”
  • Link your CIMB debit or credit card to your CIMB Clicks mobile app.
  • Tap your phone on the contactless terminal at the merchant’s outlet.
  • You can view your transaction history on your CIMB Clicks mobile app.

5. Transfer Money via Western Union

Western Union is a global money transfer service that allows you to send money from your CIMB account to over 200 countries and territories worldwide. Transfers via Western Union are typically processed within minutes, and fees apply. Here’s how to use it:

  • Select “Pay & Transfer” > “Western Union.”
  • Register as a sender by providing your personal details and uploading your identification document.
  • Add a new receiver by filling in their personal details and the destination country.
  • Choose the account from which you want to transfer funds.
  • Enter the transfer amount and date.
  • Confirm all transfer details and click “Request TAC.”
  • Upon completion, you will receive a Money Transfer Control Number (MTCN), which you need to share with the recipient for them to collect the money.

In conclusion, CIMB offers a range of convenient and secure methods for transferring money to other banks in Malaysia. You can choose the one that best suits your needs and preferences, whether you prioritize speed, cost, or ease of use. With CIMB Clicks online banking, managing your finances and making payments has never been more accessible.

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