- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- MYR
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All banks in Malaysia
- Cutoff & delivery timing
-
Real Time, 24X7 up to 10 Mn via DuitNow (List of DuitNow supporting banks available) Same Day with cutoff 12:45 via RENTAS (List of RENTAS banks available) > 10, 000 MYR Same Day with cutoff 15:00 via GIRO (List of GIRO banks available) < 1 Mn MYR
- Account Verification
-
Can verify both the bank account number and the account holder's name.
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Country Code Remitter Address Remit Purpose Code Remitter Identification Type Remitter Identification Number Beneficiary Name Beneficiary Country Code Beneficiary Account Type Beneficiary Account Number Routing Code Type 1 - SWIFT Code Routing Code Value 1
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Statement Narrative is passed to the Beneficiary Bank and depends on Beneficiary Bank if it appears in the Beneficiary statement narration. In case no Statement Narrative is provided by user, Sender Name will be passed to Beneficiary Bank as Statement Narrative.
- Proof of Payment
-
Upon request, Proof of Payment for a transaction can be made available.
- Notes
-
Banks maintain a daily limit of MYR 10,000 if the beneficiary bank account holder is not a resident of Malaysia.
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | No limit | No limit | No limit | No limit |
- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- MYR
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All DuitNow enabled Banks
- Cutoff & delivery timing
-
Real Time - 24x7
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Country Code Remitter Address Remitter Identication Type Remitter Identication Number Beneficiary Name Beneficiary Country Code Beneficiary Account Type Proxy Type Proxy Value Payout Method - PROXY
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Statement Narrative will be visible in the Beneficiary's bank statement.
- Notes
-
Proxy Value is validated before initiation of a payment Value for proxy type should be 1. NRIC 2. PASSPORT 3. CORPORATE REGISTRATION NUMBER 4. ARMY ID 5. MOBILE
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | MYR 10,000,000 | MYR 10,000,000 | MYR 10,000,000 | MYR 10,000,000 |
- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- USD, EUR, SGD, GBP, AUD, CAD, HKD, JPY, CHF, NZD
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All SWIFT enabled banks in the country
- Cutoff & delivery timing
-
Same-day processing subject to cutoff of 07:30 UTC
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Identification Type Remitter Identification Number Remitter Address Remitter Country Code Beneficiary Name Beneficiary Account Type Beneficiary Account Number Beneficiary Country Code Beneficiary Address (Recommended) Beneficiary City (Recommended) Beneficiary Postcode (Recommended) Routing Code Value 1 Routing Code Type 1 - SWIFT Code Remit Purpose Code
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Ultimate Sender Name and narrative details will be passed as part of MT103 message to beneficiary bank.
- Details available on beneficiary statement will be dependent on beneficiary bank.
- Proof of Payment
-
MT103 can be considered as a proof of payment and can be provided on request
- Notes
-
WIRES can be sent to all countries except for OFAC listed. MT103 can be provided on request. For foreign currency wire currencies USD, EUR, GBP - NIUM supports both OUR and SHA fee type while for other currencies AUD, CAD, CHF, JPY, NZD, HKD, SGD - NIUM supports only SHA fee type Processing of payments to Crimea, Donetsk, Luhansk, Sevastopol regions of Ukraine is prohibited. This list is subject to change.
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | No limit | No limit | No limit | No limit |
- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- MYR
- Network Participant
- VISA
- FX Source
- Live Interbank based rates from NIUM are available 24x7, including off-market hours
- Cutoff & delivery timing
-
1. 24x7 Availability
2. Real-time for Fast fund Enabled (Details on fast-fund enabled countries available on request)
3. T+2 for other countries
- Mandatory data requirements
- Remitter Name Remitter Identification Type Remitter Identification Number Remitter Country Code Beneficiary Card Number Beneficiary Name Beneficiary Country Code
- Notes
-
For more information, please contact your NIUM account manager team. Additional information and approval from VISA is required before this payout method can be made available. Origination of funds is allowed only from a set of countries as mentioned in the table below. In case the transaction currency does not match the destination card issuer currency, amount will be converted and credited in currency of the card issuer. In few countries, only few banks may allow the transactions. Below additional daily/monthly/yearly limits applicable for P2P transactions whichever reached first Per Day - 30 transactions or USD 10,000 per Beneficiary card Per Week - 50 transactions or USD 25,000 per Beneficiary card Per Month - 150 transactions or USD 50,000 per Beneficiary card. Below additional daily/monthly/yearly limits applicable for B2P/B2B transactions whichever reached first Per Day - 30 transactions or USD 50,000 per Beneficiary card Per Week - 50 transactions or USD 100,000 per Beneficiary card Per Month - 150 transactions or USD 200,000 per Beneficiary card.
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | USD 50,000 | USD 50,000 | USD 2,500 | USD 50,000 |