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CARDS & PAYMENTS | Staff Reporter, Malaysia

RHB Bank waives instant transfer fees on online platform

Individuals and SMEs will no longer have to pay $0.12 for payments up to $1,241.48.

RHB Banking Group has waived the $0.12 (RM0.5) fee for Instant Transfers made by individuals and sole proprietor businesses on its RHB Now Online Banking platform. 

Also read: RHB Bank launches chatbot for credit card applications

The waiver will apply for payments up to $1,241.48 (RM5,000) per transaction.

The move is in line with the central bank’s push towards cashless payment systems and reduce traditional payment modes.

“Through this waiver of Instant Transfer fees, we are confident that more consumers and sole proprietorship businesses will opt for digital payments, creating an agile and digitally-driven economy in Malaysia,” said Nazri Othman, acting head for group retail banking at RHB Banking Group.

“With this in place, we also hope to offer customers more value-added interactions and deliver superior customer experience,” he added.

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