Guess we are getting into the new generation where usually, when it comes to fund transfers, you’ll need the person’s name, bank and the actual account number. Guess the people understand the pain of the long process and hard to remember details.
Very soon, there’s an easier way to send money to any bank account in Malaysia and all you would need is the person’s mobile number!!
There is a new apps in town and it’s called DuitNow, where it will facilitate your bank transfer easily.
If you’re wondering what is this apps, DuitNow is an interbank fund transfer service that’s introduced by PayNet, the network that handles MEPS, FPX and Interbank GIRO (IBG). To simplify fund transfers (avoiding all those long winded details), DuitNow will just use your personal ID which could be your mobile, NRIC or passport number as a substitute to your bank account.
Even better news is that the fund transfer is done instantly in real time and it’s free of charge for transfers up to RM5,000. If your transaction is above RM5,000 then a 50 sen fee may apply. As according to DuitNow’s website, there will be 44 banks in Malaysia that will be participating in this e-money mobile apps.
Wow .. Impressive! No more remembering all those long account number and we will just able to transfer money with mobile phone number!