To withdraw money from Duitnow, you’ll need to follow these steps:
1. Open the Duitnow app on your smartphone.
2. Select the “Withdraw” option from the home screen.
3. Enter the amount you wish to withdraw.
4. Select the bank account you want to withdraw the money to.
5. Confirm the transaction.
6. You will receive a notification when the withdrawal is successful.
DuitNow Withdrawal Options
DuitNow, Malaysia’s instant real-time funds transfer service, allows users to conveniently withdraw money from their linked bank accounts. Here are the available withdrawal options:
- Over-the-Counter (OTC) Withdrawal: Visit any DuitNow-enabled ATM and follow the on-screen instructions to withdraw cash using your DuitNow QR code.
- Interbank Giro (IBG) Transfer: Initiate an IB transfer from your DuitNow-linked bank account to any other bank account in Malaysia.
Alternatively, some DuitNow agents and merchants may offer cash withdrawal services. However, these services may incur additional fees or charges.
| Option | Availability | Convenience | Fees |
|---|---|---|---|
| OTC Withdrawal | 24/7 at DuitNow-enabled ATMs | Instant | May apply (depending on the ATM operator) |
| IBG Transfer | Online or mobile banking | Not instant (subject to bank processing time) | Typically free (for transfers within the same bank) |
| Agent/Merchant Withdrawal | Limited availability | May not be instant | Additional fees or charges may apply |
Linking Bank Account to DuitNow
To withdraw money from DuitNow, you must first link your bank account to the platform. Follow these steps to do so:
- Open the DuitNow app on your mobile device.
- Tap on the “Settings” icon located at the bottom right corner of the screen.
- Select “Bank Accounts” from the menu.
- Tap on the “Add Bank Account” button.
- Select your bank from the list of participating banks.
- Enter your bank account number and account holder name.
- Tap on the “Submit” button.
Your bank account will be linked to DuitNow after your submission has been processed. You can now withdraw money from DuitNow to your linked bank account.
Processing Time for DuitNow Withdrawals
The processing time for DuitNow withdrawals typically depends on the withdrawal method and the financial institution involved. Here is a general overview of the processing times:
- Bank Account: Withdrawals to bank accounts usually take within 1-2 business days.
- E-wallet: Withdrawals to e-wallets are typically processed instantly or within a few minutes.
| Withdrawal Method | Processing Time |
|---|---|
| Bank Account | 1-2 business days |
| E-wallet | Instant or within a few minutes |
Limits and Fees for DuitNow Withdrawals
Withdrawing cash using DuitNow is typically subject to certain limits and fees. These may vary depending on the financial institution or e-wallet you use.
Limits:
- **Daily Withdrawal Limit:** The maximum amount you can withdraw per day may be capped by your financial institution or e-wallet.
- **Monthly Withdrawal Limit:** There may also be a limit on the total amount you can withdraw within a calendar month.
Fees:
Some financial institutions or e-wallets may charge fees for DuitNow withdrawals, such as:
- **Per-Transaction Fee:** A small fee charged for each withdrawal transaction.
- **Fixed Withdrawal Fee:** A flat fee charged regardless of the withdrawal amount.
- **Interbank Transfer Fee:** If you’re withdrawing to an account in a different bank, there may be an additional fee for interbank transfers.
| Financial Institution | Per-Transaction Fee | Fixed Withdrawal Fee | Interbank Transfer Fee |
|---|---|---|---|
| Bank A | RM0.50 | None | RM2.00 |
| E-Wallet B | Free | RM1.00 | RM1.50 |
| Bank C | None | None | Actual bank charges |
It’s recommended to check with your financial institution or e-wallet provider for specific details on any limits or fees associated with DuitNow withdrawals.
And there you have it, folks! Withdrawing money from Duitnow is as easy as one, two, three. Whether you’re paying off a friend or treating yourself to a little something, you’ll have the cash in your hand in no time. Thanks for letting me be your guide on this financial adventure. If you have any more questions, drop by again later. I’m always here to help make your money moves as smooth as butter. Take care and keep those wallets happy!