REMITTANCE SERVICES

Local Remittance Agent
Bank Muamalat Malaysia Berhad has also appointed IPS Sdn Bhd as its Local Remittance Agent for the purpose of collecting remittance funds on behalf of the Bank at the Remittance Outlets set up by IPS Sdn Bhd.

Via the Remittance Outlets, IPS Sdn Bhd and the Bank are able to provide after banking hour services and wider reach/within the vicinity of the working places of the foreign workers/remittance customers to conveniently send funds.

All Remittance Outlets operated by IPS Sdn Bhd use the same remittance system as the Bank and the details of the funds/recipients are received on-line by the participating banks in the other country.

Remittance System
Our web based Secured Socket Layer Remittance System is very cost effective and efficient.

As a Remitting Bank in Malaysia subscribing to our system, the investment is minimal – each operating branch requires only a personal computer, smartcard reader and internet access.
For the corresponding Beneficiary Bank in the other country to connect to our system (to receive and transmit remittance data) the minimum requirements are:

Internet connection line either dial-up or broadband for TCP/IP protocol.

Personal computer with hard drive Windows Operating System

Any program that supports SSH protocol for example WINSCP software with Secure FTP (SFTP).

A First time sender will be required to complete the Remittance Registration/Application Form whereby the relevant information of the Sender and Recipient (may list up to 4 recipients) will be captured and registered into the Remittance System. He is then provided with a Remittance Smartcard and for his next remittance transaction, there is no more form filling - just present the Remittance Smartcard, provide the name of the recipient and the amount to be sent.