Frequently Asked Questions
The following banks currently offer the service: Agrobank, Alliance Bank, Bank Islam, Bank Muamalat, Bank Rakyat, MBSB Bank, and UOB Bank; non-bank services include Euronet and Safeguards.
Additional participants will be listed on the PayNet website in due course.
Additional participants will be listed on the PayNet website in due course.
a. Customers are required to key in the beneficiary’s account number and verify the beneficiary’s name.
b. Once they select the recipient bank, customers must enter the beneficiary account number and ensure that the correct account holder beneficiary name is displayed before initiating the deposit.
c. The insertion of the beneficiary debit card is not required.
b. Once they select the recipient bank, customers must enter the beneficiary account number and ensure that the correct account holder beneficiary name is displayed before initiating the deposit.
c. The insertion of the beneficiary debit card is not required.
Deposits can be made into the following banks: Affin Bank, Alliance Bank, Agrobank, AmBank, Al Rajhi Bank, Boost Bank, Bank Islam, Bank Rakyat, Bank Muamalat, Bank Simpanan Nasional, CIMB Bank, GXBank, Hong Leong Bank, HSBC Bank, KFH Malaysia, Maybank, MBSB Bank, OCBC Bank, Public Bank, RHB Bank, Standard Chartered Bank and UOB Bank.
Yes. Non-bank services encompass entities such as Euronet and Safeguards
Deposits are credited to the beneficiary’s account immediately.
a. A ceiling fee of RM1 is applied to every deposit transaction, which is deducted from the deposit value (for example, if you deposit RM1,000, the beneficiary will receive RM999).
b. Customers should read the participant's terms and conditions.
b. Customers should read the participant's terms and conditions.
a. The deposit cap is the same as the current limits set by individual banks/participants.
b. Customers should read the participant's terms and conditions.
b. Customers should read the participant's terms and conditions.
a. Yes, the denominations accepted are consistent with the standards of the respective banks.
b. Customers should read their bank's terms and conditions.
b. Customers should read their bank's terms and conditions.
No. Similar to the current cash deposit function, only Malaysian Ringgit (RM) is accepted.
No. The service allows an individual who could be a non-bank customer to deposit funds into another person's bank account. Therefore, as a non-bank customer, there is no mechanism for charging fees.
a. Yes, a receipt will be issued after the IBCD transaction.
b. In accordance with existing policy, critical details such as the account number will be masked for security purposes.
b. In accordance with existing policy, critical details such as the account number will be masked for security purposes.
If a depositor encounters a transaction dispute, a report should be filed to the bank or non-bank service provider that owns the self-service machine.
Yes, customers are allowed to deposit cash into a valid joint account.
Operating hours depend on the participating bank or non-bank service provider. Check with your bank or non-bank service provider for specific hours.
Yes, deposit funds for credit cards, housing loans, and hire purchases at other banks are allowed.