A Complete Guide to Maybank Interbank GIRO (IBG) Transfers

Sending money from your bank account can be a real chore, and sometimes, the different transfer options can be confusing.

When you need to send money within Malaysia, you want to know exactly when it will arrive and how much it will cost. An Interbank GIRO (IBG) transfer is one of the standard ways to move funds between different banks.

This guide breaks down how Maybank processes these transfers, including the daily schedules, transaction limits, and what to do if you want to cancel a transfer. But beyond GIRO, there are other ways to send money, especially international transfers. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

DuitNow vs Interbank GIRO

If you use Maybank2u on desktop or the MAE app, there are usually two choices for domestic payments: DuitNow and Interbank GIRO.

The main difference is speed.

DuitNow credits the recipient's account immediately¹. However, an Interbank GIRO transfer processes money in batches, meaning it takes a few hours or until the next working day for the money to arrive².

*Details correct at time of research - 29th March 2026

What is the Maybank GIRO (IBG) transfer schedule?

Because GIRO transfers are processed in batches, the exact time your money arrives depends on when you hit send. While the Interbank GIRO service is online and available every day from 4:30am until midnight, the actual processing only takes place on business days – meaning Monday through Friday, excluding Federal Territory public holidays³.

Here is a clear breakdown of when your recipient will get the funds. Any transfers made after the 5pm cut-off, or during the weekend and public holidays, will be credited by 11am on the following working day.

Additionally, if a transfer you make before 5pm on a business day is unsuccessful, you will normally see the money returned to your account by 11am the next working day.

*Details correct at time of research - 29th March 2026

Maybank GIRO fees and transaction limits

For individual customers using Maybank, the standard Interbank GIRO transfer fee is completely free. This makes it a very cost-effective way to move your money digitally. However, if you prefer to make the transfer at a physical Maybank ATM, a small fee of RM0.10 will apply.

As for the interbank GIRO transfer limit, registered users can send up to a maximum of RM50,000 per day. It is important to note that this is a combined daily cap shared across IBG, DuitNow Transfer, and DuitNow. So, if you set your limit to the maximum and send RM20,000 via DuitNow, you will only have RM30,000 left for GIRO transfers that same day.

You can easily manage and adjust this limit yourself within your account settings. Just keep in mind that non-resident accounts have a strict maximum daily limit of RM10,000. On the other hand, if you hold a high amount of investable assets with Maybank, you might have the flexibility to enjoy an even higher daily transfer limit.

How to make a Maybank IBG transfer

You can initiate a GIRO transfer through Maybank's online banking platform, the mobile app, or at an ATM.

Via Maybank2u Website

1. Log in to your Maybank2u account by entering your username, verifying your security image, and keying in your password.
2. Head over to the 'Accounts and Banking' section and click on 'Transfer'.
3. Select 'New interbank fund transfer' and pick the recipient's bank from the options provided.
4. Enter the amount you want to send and choose 'Giro Interbank Fund Transfer' as your transfer mode.
5. Fill in the recipient's name, their account number, and the transaction type. You will also need to select 'YES' or 'NO' to validate the recipient's ID.
6. Type in a mandatory recipient reference and hit 'Continue' to review your transaction details.
7. Request a Transaction Authorization Code (TAC), which will be sent directly to your registered mobile phone via SMS.
8. Enter the TAC and click 'Confirm' to complete the transfer. A success message will appear, and you can easily print a receipt if you need one for your records.

Via an ATM⁴

1. Insert your debit card into the Maybank ATM and enter your PIN.
2. Select 'Other Transaction' from the main screen, followed by 'Transfer'.
3. Choose the 'InterBank GIRO(IBG) Transfer/Payment Menu' and hit 'YES' to proceed.
4. Select the specific bank you want to send the money to.
5. Type in the recipient's account number and select 'Yes'. Then, enter the amount you wish to transfer and confirm by pressing 'YES' again.
6. Double-check that all the details are correct on the screen and select 'YES' to lock it in.
7. Choose which of your accounts you want to deduct the funds from.
8. Select 'YES' to confirm the transaction.
9. Select 'NO' to end the session, and do not forget to collect your debit card and receipt.

How to Check Your IBG Transfer Status

Not sure if the money actually went through? You can check your IBG transfer status by logging into the MAE app or the Maybank2u internet banking portal to view your transaction history.

Alternatively, you can simply confirm directly with the recipient. If the transfer fails, the amount will be automatically refunded to your Maybank account.

How to cancel a Maybank GIRO transfer

It is common to wonder how to cancel a GIRO transfer with Maybank if you enter the wrong details. Unfortunately, once your payment is confirmed, you cannot retract or cancel the transaction yourself.

If you have made a mistake, such as sending money to the wrong account, you will need to visit your nearest Maybank branch immediately.⁵ Once there, you can request a recovery of your funds by filling out a form provided by the bank.

A Smarter Way to Send Money Internationally with Wise

GIRO is highly effective for moving Ringgit locally around Malaysia, but if you’re looking to send money overseas, you might want to consider other alternatives.

Wise international money transfers can be set up online or within the Wise app with low fees from 0.77% and the mid-market rate, to over 140+ countries. There’s no markup added to the exchange rate that’s used to convert your currency, which makes it easier to see exactly what you're paying for a transfer, and what the recipient will get in the end. Just transfer the amount indicated in MYR and let Wise do the rest.

Track your transfers easily when you create a free Wise account, and manage, hold, and convert your money in MYR and 40+ other currencies. You'll get the same great rates, and be able to track your transfers all from one place. As a bonus, you can also get 8+ local account details to be able to receive money in MYR, USD, GBP, and more.

✍️ Sign up for a free account now