The Ultimate Guide to BSN Interbank GIRO Transfers in Malaysia

If you need to move money between your Bank Simpanan Nasional (BSN) account and another bank in Malaysia, an Interbank GIRO (IBG) transfer is a reliable go-to method¹. Available online or at BSN counters, it lets you handle everything in one place, whether you’re transferring funds, paying off credit cards, or receiving your salary.

Unlike an instant transfer, IBG works by processing transactions in batches at set times throughout the day. Knowing exactly when your money will arrive can save you a lot of stress.

This guide covers everything you need to manage your local BSN GIRO transfers. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

IBG vs. DuitNow Transfer: What’s the Difference?

Before diving into the transfer process, it helps to understand how IBG compares to other options like DuitNow.

The main difference? That’d be speed.

As the name suggests, DuitNow transfers happen instantly². You can send money in seconds using a recipient's mobile number, account number, NRIC, passport, or Business Registration Number (BRN)³.

IBG transfers, on the other hand, only clear after a scheduled processing time, making them better suited for non-urgent payments like vendor disbursements, payroll, monthly allowances, or for sending money to your own or a third party’s account⁴.

How Long Does an IBG Transfer Take with BSN?

Because IBG transactions are processed in batches, the transfer time depends entirely on when you authorise the payment. This schedule also determines exactly when your money will bounce back if a transfer fails.

Keep in mind that the cut-off times differ slightly depending on whether you use an ATM or send the money online or over the counter (OTC). Here’s the schedule for business days (Monday to Friday, excluding Federal Territory public holidays):

*Details correct at time of research - 31st March 2026

If you send money on a non-business day – such as a Saturday, Sunday, or a Federal Territory public holiday – the payment will be processed on the next working day. The recipient will receive the funds by 11am, and any failed transfers will be refunded to your account by 5pm.

This means if you send money from BSN to another bank after the Friday afternoon cut-off, or over the weekend, the recipient will likely receive it the following Monday morning.

BSN IBG Transfer Fees and Limits

One of the main benefits of using IBG is the low cost. If you make a transfer online via myBSN or at a BSN ATM, the service charge is just RM 0.10⁵. If you prefer to handle it over the counter at a branch, the fee is RM 2.

Your transfer limits will depend on how you choose to send the money:

• Internet Banking: Up to RM10,000 per transaction.
• ATM: Up to RM 50,000 (combined limit).
• Over the Counter: Up to RM 1 million (combined limit with IBFT).

It is always a good idea to check your personal account limits before making a large transaction.

How to Make a BSN IBG Transfer

Via myBSN mobile app⁵

1. Log in to your myBSN account.
2. Head over to the "Payments" section and select "InterBank Giro (IBG)".
3. Choose the specific account you want to transfer the funds from.
4. Fill in the recipient's details, including their bank and account number.
5. Provide the necessary transaction details, enter the amount you want to send, and hit "Submit".
6. Double-check that all the information is accurate, then click to request your TAC.
7. Type in the TAC number you receive to authorise and confirm the payment.
8. Print or save your receipt for your records, and safely sign out of your myBSN session when you are finished.

Via BSN ATM⁶

1. Insert your card and select your preferred language.
2. Enter your PIN.
3. Select 'Pindahan' (Transfer) from the main menu.
4. Select 'Pindahan IBG' (IBG Transfer).
5. Select 'Pindahan Wang IBG' (IBG Money Transfer) and press to continue.
6. Enter the amount you wish to transfer and press 'Ya' (Yes).
7. Choose the recipient's bank from the list. If you do not see the bank immediately, press 'Lain-Lain' (Others) to view more options.
8. Enter the recipient's bank account number and press 'Tekan Jika Betul' (Press if correct).
9. Enter a transaction reference number and press 'Tekan Jika Betul' (Press if correct).

Once the transaction is processed, take your ATM card and keep the printed receipt for your records.

Over the Counter

If you prefer to handle your transfer in person, you can visit any BSN branch.

Simply fill out an IBG form at the counter and hand it to the teller. Always double-check the recipient's account number before submitting the form to avoid any processing errors.

For extra peace of mind, it is a good idea to contact the recipient later to confirm the money has arrived safely.

Transferring Between BSN and Other Malaysian Banks

The IBG network links all major local banks, meaning the process and processing times are identical no matter where you send the funds.

Whether you’re initiating an IBG transfer from BSN to Maybank or sending money to Bank Islam, you simply select the destination bank from the dropdown list and follow the standard batch timings.

The same logic applies in reverse: if you are waiting for an incoming transfer, the arrival time relies entirely on when the sender authorised the payment.

As long as the cut-off times are met, the money flows through the network seamlessly.

Managing Your BSN IBG Transfers

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 myBSN app or 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 BSN account.

How to Cancel a BSN IBG Transfer

Once a payment is confirmed, you cannot retract it in the app.

If you accidentally sent money to the wrong person, you must visit your nearest BSN branch immediately. You can request a fund recovery there by filling out the provided form. Always double-check the recipient's details before hitting send.

Send Money Abroad Without Extra Markups with Wise

IBG is perfect for moving Ringgit around Malaysia, but taking your money across borders is a different story.

Sending international SWIFT transfers through a traditional bank is usually much more expensive than using a digital platform. You often face higher, less transparent upfront fees, plus hidden markups.

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