Online banking Malaysia is where you can access your bank account. And also carry out financial transactions through the internet on your smartphone, tablet or computer. This online banking Malaysia makes our life much easier.
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Advantage of Online Banking
- Pay your bills online
When you use a traditional way, you need to waste your time by queuing up and waiting. But when you have online banking, you can pay all the bills online. This way is more flexible and also does not waste your time. So you can chill at home with your family. - View your transaction
When you have online banking you can check your transaction. You can check them anytime that you want and anywhere. Online banking will allow you to access your account history and transactions. So you can find out where your money goes. - Transfer money between accounts
You can transfer your money to another account either with your family, friends or partner. You can quickly transfer money between accounts when you do it online. Also this way are much faster than the traditional way. - Bank at your phone with mobile apps
Most banks will offer a mobile app that allows you to more easily take advantage of online banking on your phone. Which they will allow you to quickly check up on your accounts when you are out shopping. Also you can transfer funds so you don’t end up overdrawing. Or you can make sure a merchant hasn’t double-charged you.
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Payment Method
- Cash
Cash payments are the easiest and one of the oldest payment methods. They are reliable and on-the-spot payment methods. Which requires no devices. Cash payments are still one of Malaysia’s most widely used payment methods. However, payment by cash will lose its market share to other cashless options like credit cards, debit cards, and mobile wallets. - Credit Cards
Credit cards help customers to borrow funds from the bank. These happen when the customers agree to pay interest in the future on the borrowed funds from the institution. Many payment gateways provide secure credit card transactions. There are many Malaysian banks that have partnered with VISA, MasterCard, Maestro, American Express, and Discover to offer their services. They want to make their service to the broader population. More than 200 countries accept VISA and Mastercard. Which makes them one of the most renowned names in payment gateways for credit cards. - Bank Transfers
Bank transfer transactions directly take place from one bank to another. The advantage of bank transfers is your businesses can securely transfer unlimited amounts of funds. And you can transfer them anywhere around the globe. Bank transfers are optimal solutions for B2B fund transfers. - Debit Cards
A debit card directly links to the customer’s checking account. When the users use debit cards for online purchases, the money will immediately be deducted. Those money are deducted from the card owner’s checking accounts. Debit cards are still a popular payment method but they put a cap on the amount a customer can spend in a day. Customers must contact their issuing institution to make payments over that daily payment. - DuitNow QR
DuitNow is a leading real-time online fund-transfer service. They will allow users to send and receive funds without using an account. DuitNow users get a unique id that they can use for transferring the funds online. DuitNow QR is an important feature that is provided by DuitNow. Which lets the users make QR payments. A quick response (QR) code contains the payment details. So the users just need to scan the code using any e-wallet or banking app. And they will process the payment. QR payments are also accessible and feasible options for Malaysians. The platform has opened its door to process cross-border QR payments. - Cash on Delivery
Customers use cash on delivery (COD) to make payments after ordering products from e-commerce stores. Malaysians still prefer to pay for their things after receiving the product. This is an important payment method. This COD method is highly beneficial for cash-based businesses. Also this method is helpful for customers who are still hesitant to use card-based and other digital payment methods. - Financial Process Exchange (FPX)
Financial Process Exchange (FPX), a Malaysia-based payment option. They will allow customers to conduct online transactions with their existing bank credentials. FPX is an intuitive platform that gives its users the existing comfort of everyday banking. Which we can do without going through the rigamarole of endless online interactions.
