How to Transfer Money from Bank Muamalat to Other Banks Online

If you’re a Bank Muamalat customer in Malaysia, you can effortlessly transfer money to other banks online through i-Muamalat, the internet banking service provided by Bank Muamalat Malaysia Berhad. This convenient service offers you flexibility and accessibility for various financial transactions. In this guide, we’ll walk you through three straightforward methods for transferring money from Bank Muamalat to other banks online: Instant Transfer, Interbank GIRO (IBG), and DuitNow.

What Is i-Muamalat?

i-Muamalat is the internet banking platform of Bank Muamalat Malaysia Berhad, offering you the convenience of managing your finances online from anywhere and at any time. You can access i-Muamalat through its website (https://www.i-muamalat.com.my) or by downloading the mobile app from the Apple AppStore, Google PlayStore, or HUAWEI AppGallery.

To utilize i-Muamalat, you’ll need to register and log in with your username and password. Additionally, you can enhance security by activating i-MSecure, a feature that replaces SMS Transaction Authorization Code (TAC) for transaction authorization. i-MSecure sends push notifications to your preferred smartphone, allowing you to approve or reject transactions directly from the app.

How to Transfer Money from Bank Muamalat to Other Banks Online

Here are three convenient methods for transferring money from Bank Muamalat to other banks online using i-Muamalat: Instant Transfer, Interbank GIRO (IBG), and DuitNow.

Instant Transfer

Instant Transfer is a service that enables you to transfer money instantly to any bank account in Malaysia. The recipient will receive the funds within seconds, and the service is available 24/7. There is a nominal fee of RM0.50 per transaction. To use Instant Transfer, follow these steps:

  1. Log in to the i-Muamalat online portal or mobile app.
  2. Navigate to the “Transfer” section in the menu.
  3. Select “Instant Transfer.”
  4. Enter the recipient’s account number or select from your favorites list.
  5. Input the transfer amount and specify the purpose of the transfer.
  6. Review the transaction details and authorize it through i-MSecure.
  7. Upon successful authorization, you will receive a confirmation message along with a reference number.

Interbank GIRO (IBG)

Interbank GIRO (IBG) allows you to transfer money to any bank account in Malaysia, with the funds typically reaching the recipient on the same day or the next business day. IBG transactions are available from 7:00 am to 11:00 pm on weekdays and 7:00 am to 9:30 pm on weekends and public holidays. The cost for using IBG is RM0.10 per transaction. To use IBG, follow these steps:

  1. Log in to the i-Muamalat online portal or mobile app.
  2. Access the “Transfer” section in the menu.
  3. Choose “Interbank GIRO.”
  4. Enter the recipient’s account number or select from your favorites list.
  5. Specify the transfer amount and the purpose of the transaction.
  6. Review the provided details and authorize the transaction via i-MSecure.
  7. After successful authorization, you will receive a confirmation message, including a reference number.

DuitNow

DuitNow is a service that allows you to transfer money to any bank account in Malaysia using various identifiers, such as the recipient’s mobile number, NRIC number, passport number, business registration number, or DuitNow ID. If the recipient has registered their DuitNow ID with their bank account, they will receive the funds instantly. This service is available 24/7 and is free of charge. To use DuitNow, follow these steps:

  1. Log in to the i-Muamalat online portal or mobile app.
  2. Visit the “Transfer” section in the menu.
  3. Select “DuitNow.”
  4. Enter the recipient’s DuitNow ID or choose from your favorites list.
  5. Input the transfer amount and specify the purpose of the transfer.
  6. Review the transaction details and authorize it through i-MSecure.
  7. Following successful authorization, you will receive a confirmation message along with a reference number.

Conclusion

You’ve now learned how to easily transfer money from Bank Muamalat to other banks online using three simple methods through i-Muamalat: Instant Transfer, Interbank GIRO (IBG), and DuitNow. Select the method that aligns with your specific needs and preferences, whether you require instant transfers or standard processing times.

For additional information regarding i-Muamalat, please visit https://www.muamalat.com.my/consumer-banking/internet-banking/i-muamalat/ or https://corporate.muamalat.com.my/services/personal/internet-banking/i-muamalat/. If you have any inquiries or require assistance, don’t hesitate to contact Bank Muamalat customer service at 1300-88-8787 or email info@muamalat.com.my.

Thank you for reading, and may your online banking transactions be seamless and efficient!

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Amir Zulkarnain
Amir Zulkarnain

Amir Zulkarnain, a tech enthusiast, provides insightful articles on the latest technological trends. Passionate about innovation, Amir offers a fresh perspective on the ever-evolving tech landscape.

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