Online Interbank GIRO charges 10sen started next month

MALAYSIA: Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz yesterday said the fee for online Interbank GIRO (IGB) transactions will be lower to 10 sen from the current charge of between 50 sen and RM2, effective May 2 2013, the Business Times reported. Meanwhile, banks will charge a cheque processing fee of 50 sen on the cheque issuer on top of the existing stamp duty of 15 sen per cheque leaf, from April 1 2014 onwards. Both initiatives are to courage online payment transactions in the country.

Author: Terry KS

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