Here's Why Instant Transfer Is A Lifesaver!
iMoney.my Learning Centre
  • All Categories

    All Categories

    Close
    English
    • Latest Articles
    • Go to iMoney.my
    • Personal Loan
    • Life Insurance
    • Broadband
    • Medical Insurance
    • Credit Cards
    • Travel Insurance
    • Money Management
    • Auto Insurance
    • Properties
    • Takaful
    • Autos
    • Entrepreneur
    • Investment
    • Tax
    • CreditScore
    • Budgeting
    • Career
    • Lifestyle
    • News Updates
    Malay
    • Artikel Terkini
    • Pinjaman Peribadi
    • Kad
    • Insurans
    • Simpanan Tetap
    • Pinjaman Perumahan
    • Pinjaman Kereta
    • Pengurusan Kewangan
    • Pelaburan
    • Gaya Hidup
    • Infografik
    • Kemasyhuran & Kekayaan
  • Money Management
  • Investment
  • Insurance
  • Cards
  • Guides
  • Online Shopping Guide
  • CreditScore
  • Go to iMoney.my
Home › Latest Articles › Cards › Debit Card › Send & Receive Money Instantaneously, No Sweat!

Send & Receive Money Instantaneously, No Sweat!

September 2, 2016
Debit Card, Infographic, Savings Account, Sponsored
Share this!
  • Share
  • Tweet
  • Email
  • WhatsApp

MEPS instant transfer

Written by Iris Lee Illustration by Michelle Leong

MEPS

Whether you are buying something online, or simply splitting a bill with your colleagues, we cannot imagine a life without the facility to transfer money quickly and conveniently. You can almost walk around for days without any cash in your wallet – because it’s safer and more convenient to just use your ATM or debit card or transfer the money electronically for payments.

Based on The Global E‑Commerce Payments Guide, published by Adyen (the international payment services provider) in 2015, 42% of respondents in Malaysia prefer online banking when making payments online.

Some of the advantages of online banking are security, cost and speed. With instant transfer allowing senders to check the recipient’s account name based on the account number, the risk of errors in the transfer will be limited. Plus, the less cash you have to handle, the safer you are.

The lower transfer fees make it even more appealing for consumers. For example, by making payments via cheques, you will be charged RM0.53 (inclusive of GST) per cheque, and it will take one and a half days for cheques of the same bank to clear, while cheques from a different bank will take three working days. Good luck if you are banking in your cheque on the weekend.

If you make your payment via instant transfer, you will be charged the same RM0.53 (inclusive of GST) per transaction, but your payment will be transferred immediately. And the best part? You don’t need to drive to the bank, look for a parking bay and queue up just to bank in the cheque. Additionally, credit card and loan/financing repayments can be made using MEPS Instant Transfer service to ensure prompt payment to avoid penalties.

In today’s fast-paced world, almost everything you do needs to be immediate, and waiting for one to two working days just doesn’t make sense anymore. This is why MEPS’ instant transfer facility should be your go-to fund transfer facility – to save cost and time.

Image from Curious Buyer

Share this article

Share this!
  • Share
  • Tweet
  • Email
  • WhatsApp

Leave your comment

Infographic

Where Does Malaysia Get Money For Its Budget [Infographic]

How To Diversify Your Insurance Plan’s Investment-Linked Funds

Achieve Your Long-Term Financial Goals With Shariah Investments

Malaysians May Be Health Conscious, But There’s Still A Lot Of Work To Be Done

Have You Done These 5 Things To Grow Your Retirement Fund?

Which Jobs Earn The Highest Salaries In Malaysia?

2020: The Ultimate Guide To Ang Pow Giving [Infographic]

Which Cashback Credit Card Should You Choose?

View more infographics »
iMoney.my Learning Centre
Back to top

iMoney.my is a leading financial comparison website and a trusted personal finance authority to help you make the most out of your money.

  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • Go to iMoney.my
  • Privacy Policy
  • Disclaimer
  • Corporate
  • Advertising@iMoney

© 2021 iMoney Malaysia