How to make a Bank Islam online transfer: Guide for Malaysians

Bank Islam provides a comprehensive range of banking products and services for both individual and commercial clients. You can send payments with Bank Islam¹ locally and overseas, through the online or mobile baking service.

This guide walks through everything you need to know about making a Bank Islam online transfer, including details of the fees and the Bank Islam transfer limit which applies to different types of common payments. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What do I need to know before making a Bank Islam online transfer?

You can send payments with Bank Islam including telegraphic transfer, intrabank funds transfers to other accounts with Bank Islam, and IBG payments to other Malaysian banks. There are different fees, delivery times and limits for different payment types, so you’ll need to make sure you select the right option for your specific transfer needs.

Intrabank transfers² have no charge, IBG payments cost 0.1 MYR each³, while telegraphic transfers (TT)⁴ are more costly and usually used for urgent and high value payments, particularly when sending money abroad. Cable charges for a foreign TT cost 24 MYR - 26 MYR, with additional fees for currency exchange and intermediary bank costs likely.

There are helpful guides and tutorials on the Bank Islam website which you can use for further advice if you need more information about sending payments - we've got all the basics covered in this article.

Bank Islam online transfer requirements

To make an online or mobile transfer with Bank Islam you must have an eligible account and also register for digital services. If you haven’t registered before with BIMB Web or BIMB Mobile services, you’ll need to start the process online or in the app, and then complete the verification either at an ATM or in a branch.

Here’s how to register for BIMB Mobile, to give you an idea of how the process will work⁵:

1. Download the BIMB Mobile app and tap New Online Banking User
2. Tap Register Now and then Bank Account for Registration
3. Enter your Bank Islam bank account number following the prompts
4. Follow the instructions to enter your ID document information and confirm
5. You’ll be prompted to create a username, password and security details

Once you have completed this online step, including adding security questions and answers to help keep your account safe, you can finish registration at an ATM or Bank Islam branch.

At an ATM you'll need to use your debit card and PIN to complete registration. Insert your card into the ATM, enter your PIN and then look for the Online Access Activation option which is in the ‘Other’ menu.

If you prefer to complete registration in a branch, a member of the team will guide you through the final steps to register for digital services.

Bank Islam IBG transfer time

IBG payments - Interbank Giros - are processed in batches throughout the working day. This means your payment won’t start to be processed immediately when you request it from Bank Islam. However, it’ll usually get moving within a few hours as long as you make your request on a day the bank is operating.

Here are the Bank Islam IBG transfer time options, depending on the time of day you make your request:

If you have an urgent payment you may want to check the IBG transfer time with Bank Islam to make sure your money arrives on time.

Bank Islam transfer limit

Bank Islam BIMB Web and BIMB Mobile payments are limited to 50,000 MYR per day. This is a combined limit covering many different types of payments including IBG, DuitNow and payments to other Bank Islam customers.

There are different limits on other payment types - if you set up your transfer through an ATM the limit is 30,000 MYR per day, while a 500,000 MYR limit applies on the amount you can send in a branch per day.

There’s no advertised information about how to change a transfer limit at Bank Islam - you may need to contact the bank directly if these limits do not suit your needs.

How to make an Bank Islam online transfer: Step-by-step

Here’s how to make an Bank Islam online transfer through the mobile app⁶:

1. Login to BIMB Mobile and tap Transfer
2. Tap Account and choose the recipient bank
3. Select the kind of transfer you want to make and enter the retirement account number
4. Enter the recipient’s name and the amount of the payment
5. Select the account to transfer from
6. Enter a payment reference and confirm the details
7. Enter your password if prompted, to verify the payment on BIMB Secure

How to track Bank Islam online transfer status?

Once your payment has been sent you will see the transfer status in the app and can track your payment that way. You'll be able to see when the payment has been approved and gone through.

Manage and send multiple currencies with low fees and the mid-market rate with the Wise account

Make seamless foreign currency payments and transactions with low fees and the mid-market rate with Wise.

The Wise account is an easy way to hold and exchange 40+ currencies, including MYR, USD, GBP, and more. All you need to do is create a free account to get started.

With Wise, you can exchange currencies at the mid-market rate each time, with low, transparent conversion fees from 0.77% and absolutely no markups. Plus, you can order a linked Wise card for convenient spending without any foreign transaction fees, and up to 2 free ATM withdrawals to the value of 1,000 MYR when you're overseas. You'll even get 8+ local account details to get paid conveniently to your Wise account in MYR and a selection of other major global currencies.

Sending money or making payments abroad? Wise also offers fast, low cost transfers to 140+ countries - you can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Get the most out of every ringgit and save more when you use Wise.

🚀 Get Started with Wise

1. Bank Islam
2. Bank Islam intrabank funds transfer
3. Bank Islam IBG
4. Bank Islam transfer fees (TT)
5. BIMB - Help
6. BIMB Help - transfer