Malaysia
Overview
| Transfer method | Local | Local | SWIFT |
|---|---|---|---|
| Supported currency(ies) | MYR | MYR | AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
| Payment scheme | Duitnow Transfer / iACH | RENTAS | |
| Flight time (business days) | 0-2 | 0-1 | 0-3 |
| Maximum transaction limit | 10,000,000 MYR | 200,000,000 MYR | No limit |
| Ultimate payer displayed | Yes |
Please refer to the sections below for the key required bank details and other considerations for each supported transfer method.
Local DuitNow payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | Should be MYR |
account_name | 2-200 alphanumeric characters or punctuation only | Account holder name of the recipient’s bank account |
account_routing_type1 | One of swift_code, personal_id_number, passport_number, business_registration_number, or phone_number | See table below for definitions of each routing type |
account_routing_value1 | Definition depends on account_routing_type1; see the table below | |
account_number | 5-19 digits | Only required when account_routing_type1 is swift_code |
swift_code | 8-11 alphanumeric characters | Only required when account_routing_type1 is swift_code. Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be MY |
DuitNow payouts to DuitNow IDs
When paying MYR locally via DuitNow, you can pay to a bank account (using a SWIFT code and account number) or to a DuitNow ID. Specify the type of ID with the account_routing_type1 parameter under the beneficiary.bank_details object.
See below the supported values for account_routing_type1 and the respective definitions for the account_routing_value1 parameter.
| Account routing type 1 | Account routing value 1 | Note |
|---|---|---|
swift_code (The default routing type when not specified) | A SWIFT code to identify a bank in Malaysia. | When swift_code is specified, swift_code and account_number are required under the beneficiary.bank_details object, instead of account_routing_value1. |
personal_id_number | A Malaysian NRIC number in the format YYMMDD-PB-###G, e.g. 900101-10-1234. | Account number is not required when paying to a DuitNow ID; account routing value1 is required. Same for all other DuitNow ID types below. This type is available only when the beneficiary's entity_type is PERSONAL. |
passport_number | A passport number of 5 to 17 alphanumeric characters, e.g. A12345678. | This type is available only when the beneficiary's entity_type is PERSONAL. |
business_registration_number | A Malaysian business registration number (BRN), e.g. 202301001235. | This type is available only when the beneficiary's entity_type is COMPANY. |
phone_number | A Malaysian phone number, e.g. +60 12-3456 7890. |
Local RENTAS payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | Should be MYR |
account_name | 2-200 alphanumeric characters or punctuation only | Account holder name of the recipient’s bank account |
account_number | 5-19 digits | |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be MY |
SWIFT payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
account_name | 2-200 alphanumeric characters or punctuation only | Account holder name of the recipient’s bank account |
account_number | 5-19 digits | |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be MY |
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