Personal Finance Money transfer

How to Make an IBG Transfer from Bank Islam (Step-by-Step)

Joel Conceicao

22.05.26 (last updated)

Read time 4 minutes

Sending money between banks in Malaysia doesn't have to be complicated – it just means knowing which payment system to use. If you're transferring funds to or from a Bank Islam account, you'll likely come across the Interbank GIRO (IBG) option.

This guide breaks down exactly how a Bank Islam IBG transfer works, when your money will arrive based on the daily processing schedule, and how it stacks up against instant transfer alternatives.

We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

Table of Contents
What Is an IBG Transfer? Bank Islam IBG Schedule How to Make an IBG Transfer Using the BIMB Mobile App IBG vs DuitNow How to Check Your IBG Transfer Status Cancelling an IBG Transfer

First, What is an IBG Transfer?

An Interbank GIRO (IBG) transfer is an electronic funds transfer service provided by PayNet that allows you to move money between different banks in Malaysia.

With IBG, you can transfer funds from your savings or current account to another bank's savings, current, loan/financing, or credit card/-i account¹. So whether you're sending money from your Bank Islam account to a Maybank account – or receiving funds from Public Bank – IBG is the clearing system handling it behind the scenes.

The key thing to know: unlike DuitNow transfers (which are instant²), IBG doesn't move money in real time. Instead, it processes transactions in scheduled batches throughout the working day.

Bank Islam IBG Transfer Schedule: How Long Does It Take?

Because IBG runs on batch processing, your arrival time depends entirely on when you send. Submit your transfer before a given cut-off on a standard business day (Monday to Friday), and the money reaches the recipient on the same day. Miss the final window, and it carries over to the next working day.

Keep in mind that the exact moment funds become available can vary depending on which bank is on the receiving end.

Here is the standard IBG crediting schedule³:

Transfers made on non-business days – Saturdays, Sundays, and Federal Territory public holidays – will be processed on the next working day:

Transfer Initiated (Business Days)	Funds Received By
Before 5am	Same day by 11am
5:01am - 8am	Same day by 2pm
8:01am - 11am	Same day by 5pm
11:01am - 2pm	Same day by 8pm
2:01pm - 5pm	Same day by 11pm
After 5pm	Next business day by 11am
Non-Business Days	Next business day by 11am

If a payment doesn't go through and needs to be refunded, the timeline for getting your money back is tied to your original submission time:

Transfer Initiated (Business Days)	Funds Refunded By
Before 5am	Same day by 5pm
5:01am - 8am	Same day by 8pm
8:01am - 11am	Same day by 11pm
11:01am - 2pm	Next business day by 11am
2:01pm - 5pm	Next business day by 11am
After 5pm	Next business day by 5pm
Non-Business Days	Next business day by 5pm

How to Make a Bank Islam IBG Transfer

You can set up an IBG transfer through the BIMB Mobile app, BIMB web portal, ATM, or in person at a Bank Islam branch. The process is straightforward whether you're sending from Bank Islam or receiving from another bank.

From Bank Islam (Using the BIMB Mobile app)⁴

Log in to the BIMB Mobile app and navigate to your account.

Select the receiving bank, choose the transfer type, and input the recipient's account number.

Set the transfer mode to Interbank GIRO (IBG).

Enter the recipient's name. You also have the option to select their ID type and provide the corresponding ID number.

Specify the transfer amount, choose which account to fund it from, and enter a payment reference. Adding extra transfer details or the recipient's email address is optional.

Verify all details and authorise the transaction. If the amount exceeds your Quick Transfer limit, you'll be prompted to enter your password to complete the process.

IBG vs DuitNow: Understanding the Difference

When making a transfer, you'll generally see two options: IBG and DuitNow. The main difference comes down to speed – and knowing which to use depends on how urgently the recipient needs the money.

Feature	Interbank GIRO (IBG)	DuitNow
Speed	A few hours to one working day	Immediate
Processing	Scheduled batch processing	Instant
Transfer Fees	RM0.10 (BIMB Web & Mobile)⁵ RM0.30 (ATM & Branches)	Free (RM5,000 and below)⁶ RM0.50 (Above RM5,000)
Daily Limits	RM50,000 combined limit* RM30,000 combined limit* (ATM) RM500,000 (Branches)	RM50,000 (shared across IBG, DuitNow, and third-party transfers within Bank Islam)⁷
Best Used For	Non-urgent bulk payments Credit card bills Scheduled loan repayments Payroll	Everyday transfers Sending money to family and friends Splitting bills

*The RM50,000 & RM30,000 combined limits are shared between IBG, DuitNow, and third-party Bank Islam transfers.

How to Check Your IBG Transfer Status on Bank Islam

Not sure if your transfer went through? Here are a few simple ways to check:

Check your transaction history: Log in to your mobile banking app or internet banking platform to view the transfer record.

Confirm with the recipient: The quickest way – just check directly with the person you sent the money to.

Watch for refunds: If a transfer is unsuccessful, the exact amount will be returned to your account.

Can You Cancel a Bank Islam IBG Transfer?

Sent money to the wrong account? This is one of the most common concerns — and unfortunately, once an IBG transfer is authorised and submitted, it cannot be cancelled or reversed through your online banking app⁸.

If you've transferred funds to the wrong account, contact Bank Islam immediately to initiate a formal recovery process. Bank Islam will reach out to the receiving bank, which will then contact the unintended recipient to request that the funds be returned. The bottom line: always double-check the account number and recipient name before confirming any IBG payment.

While IBG is perfect for everyday local transfers, Wise is designed to handle your international payment needs.

A Smarter Way to Send Money Overseas with Wise

While IBG is perfect for everyday local transfers, Wise is designed to handle your international payment needs.

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

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*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

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