Payouts can be performed via 3 payment methods:
- Interbank Giro (IBG)
- Instant Transfer via DuitNow
The payment method is decided when filling up the form to add a bank account for a payee. Note that there are slight differences in the information required for each of the different payment methods.
Instant Transfer via DuitNow:
Differences between the payment methods:
- Settlement time:
- IBG: Slight delay in settlement because collections follow the IBG Transfer Schedule
- Instant Transfer via DuitNow: Near real-time
- DuitNow: Near real-time
- Bank fees:
* This is the general fee. Exact fee may differ depending on agreement between merchant and RHB.