Thursday 28 Mar 2024
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KUALA LUMPUR (July 13): AmBank (M) Bhd has waived the fee for fund transfers performed via its online banking platform, AmOnline, which is expected to benefit 535,560 customers.

The bank has been charging a fee of 10 sen per transaction for interbank GIRO transfers and 50 sen per transaction for instant interbank fund transfers.

"With this waiver for all online fund transfer fees regardless of transaction amount, we hope to encourage more AmBank customers to opt for online banking to perform their transactions, reducing cheque issuance, in line with Bank Negara Malaysia's (BNM) agenda to move towards becoming a cashless society," group chief executive officer Datuk Sulaiman Mohd Tahir said in a statement.

AmBank added that the waiver is in line with its digital journey of promoting the "Easy, Simple & Fast" usage of AmOnline, while complementing BNM's efforts to accelerate the migration towards electronic payments.

AmBank said the number of transactions recorded by AmOnline rose 108% to 520,000 as of June, from 250,000 a year earlier.

The bank said the newly enhanced AmOnline platform is also offering its customers with the facility to change their credit card limit and apply for a new supplementary card.

AMMB Holdings Bhd's share price was unchanged at RM3.91 as at 3.45pm, for a market capitalisation of RM11.79 billion.

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