RHB Banking Group (RHB) has announced zero fee for Instant Transfer made by individuals and sole proprietor businesses via RHB Now Online Banking (www.rhbgroup.com) platform.
THIS is in-line with Bank Negara Malaysia’s (BNM) efforts to drive cashless payment systems and reduce traditional payment modes. BNM recently announced that effective 1 July, 2018, the Instant Transfer fee of RM0.50 will be waived for payments of up to RM5,000 per transaction by individuals and SMEs. RHB has made this waiver available since 18 May 2018.
“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.
With this in place, we also hope to offer customers more value-added interactions and deliver superior customer experience,” said Nazri Othman, Acting Head for Group Retail Banking, RHB Banking Group.
“Over the last 2 years, we have recorded a 70% increase of Instant Transfer transactions,” added Nazri.
The waiver of the Instant Transfer fee has been launched on the back of RHB’s latest “RHB e-Duit Raya” campaign held from 1 – 30 June 2018, themed “Give for Good”, in which the Group will be donating 10% out of the total RHB e-Duit Raya transactions to 4 charitable homes.
These homes include Pertubuhan Kebajikan Asnaf Al Barakh Malaysia, Rumah Penyayang Nur Iman, Persatuan Rumah Perlindungan Teratak Nur Insan Kuala Lumpur & Selangor (NURI), and Rumah Jagaan & Rawatan Orang Tua Al-Ikhlas Puchong.
With more than 3 million customers and total assets of RM76.3 billion, Group Retail Banking is the biggest business division within the Group, and also the largest contributor to the Group’s top and bottom lines.
For the financial year ended Dec 31, 2017, Group Retail Banking recorded robust loans and deposits growth of 9% and 7.6% respectively which outpaced industry.
Group Retail Banking offers both conventional and Shariah-approved housing financing, auto financing, ASB financing and other personal financing as well as credit card, payment, current and savings account, fixed deposit, investment and insurance products to individual customers.
