If you’re a Bank Rakyat customer and need to transfer money to another Bank Rakyat account, you can easily do so through the iRakyat internet banking service. This method is secure, convenient, and eliminates the need to visit a physical bank branch or ATM. Here’s a step-by-step guide on how to transfer money online within Bank Rakyat accounts in Malaysia:
Step 1: Log In to iRakyat
- Begin by accessing the iRakyat internet banking platform. You can visit the official website at https://www.irakyat.com.my/.
- Locate the “Login” button at the top-right corner of the webpage and click on it.
- Enter your username and password in the provided fields.
- Click the “Submit” button to log in to your iRakyat account.
Step 2: Select “Transfer” Option
- Once logged in, you’ll be directed to the iRakyat dashboard. On the left-hand side, you’ll find a menu with various options. To initiate a money transfer, select the “Transfer” option.
Step 3: Enter Transfer Details
- Within the “Transfer” section, you’ll find several transfer options, including “Own Account Transfer,” “Interbank GIRO Transfer,” “Instant Transfer,” and “DuitNow Transfer.” For this guide, we’ll focus on the “Instant Transfer” option, which allows for immediate transfers to any bank account in Malaysia.
- After selecting “Instant Transfer,” you’ll need to input the necessary transfer details:
- Choose the account from which you want to transfer funds.
- Specify the transfer amount.
- Select the recipient account (Bank Rakyat account).
- Optionally, include a reference or remark for the transaction.
- To transfer money from Bank Rakyat to another Bank Rakyat account, choose the “New DuitNow ID” option and select “Account Number” as the ID type. Enter the recipient’s account number in the “Beneficiary Account Number” field. For verification purposes, you can also input the recipient’s name in the “Beneficiary Name” field.
Step 4: Confirm Transfer Details
- After entering the transfer details, take a moment to review them carefully before proceeding. The summary should include the transfer amount, recipient’s name and account number, reference or remark, and the service fee (typically RM0.50 for instant transfers).
- If all the details are accurate, click the “Confirm” button located at the bottom of the page.
Step 5: Enter Transaction Authorization Code (TAC) and Complete the Transfer
- Upon confirming the transaction, you’ll be prompted to enter your Transaction Authorization Code (TAC). The TAC will be sent to your registered mobile phone number via SMS.
- Input the TAC in the designated field and click the “Submit” button.
Step 6: View Transaction Status
- Once you’ve submitted the TAC, you’ll receive a confirmation message indicating that your transaction has been successfully processed. A reference number will also be provided for your records and future inquiries.
- To review your transaction history or for further reference, you can click on the “View History” button.
Congratulations! You’ve completed the process of transferring money online from one Bank Rakyat account to another in just 5 simple steps. You can now log out of your iRakyat internet banking account, knowing that your transaction has been successfully executed.