AmBank Waives Fee for All Online Fund Transfers

AmBank (M) Berhad has waived the fee for all online fund transfers performed via its online banking platform, AmOnline. This includes the waiver of RM0.10 fee per transaction for Interbank GIRO (IBG) transfers and RM0.50 fee per transaction for Instant Interbank Fund Transfer (IBFT) transaction performed online, regardless of transaction amount. The waiver is in line with AmBank’s digital journey, promoting the Easy, Simple & Fast usage of AmOnline and complementing Bank Negara Malaysia’s efforts to accelerate the migration towards electronic payments.

The waiver will benefit 535,560 registered users of AmOnline as at 8th July 2018, which this year has seen an increased number of transactions of 520,000* (AmOnline fund transfer transactions to other banks) as of June this year compared to 250,000 transactions as of June 2017.

“With this waiver for all online fund transfer fees regardless of transaction amount, we hope to encourage more AmBank customers to opt for online banking to perform their transactions, reducing cheque issuance, in line with Bank Negara Malaysia’s agenda to move towards becoming a cashless society,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.

Amongst the latest offerings on the newly enhanced AmOnline is that the customers are now able to change their credit card limit and apply for a new supplementary card on the AmOnline itself.