29 Jan 2021 The Launch of Cross Border Fund Transfer (CBFT) product via alrajhicashbiz@24seven
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Dear Valued Customer(s),

We are pleased to share with you that Cross Border Fund Transfer (CBFT) payment is now available via alrajhicashbiz@24seven. CBFT is an outward remittance service offered by the Bank.

This service will be available to all our existing Cash Management customers who have subscribed for Payment Package starting from Friday, 29 January 2021.

With this feature, customers will have the convenience of performing a CBFT transaction in the comfort of their own home or office. Other salient points about the CBFT are as follows:-

1. Transactions can be at board rate or preferential rate (contract rate). 

2. For preferential rate, the customer has to apply through their Relationship Manager or Branch Manager.

3. There are 12 main currencies currently available, as follows:

i.

USD

vii.

AUD

ii.

SAR

viii.

EUR

iii.

HKD

ix.

PHP

iv.

GBP

x.

BDT

v.

AED

xi.

SGD

vi.

IDR

xii.

CNY

 

4. For a CBFT transaction, customers can debit from their local ringgit current account or their foreign currency account (FCY). Debiting of a foreign currency account is only allowed for transactions denominated in the same foreign currency as the debiting account. 

For example, if the customer wishes to transfer in USD, but does not have a USD account, the customer can debit from a local ringgit current account. However, if the customer also has a USD FCY account, the customer can either debit from the USD account or the local ringgit account.  

5. Customers can now upload their supporting documents together with their payment instruction. There is no need for customer to fax or email the documents. 
To find out more about this product, please refer to the following links:

a.    Click here for FAQs related to CBFT
b.    Click here for Customer’s User Guide

Thank you.

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