Bank Payout Malaysia
Disburse funds directly to a bank account. | Enterprise
my_local_bank is a new bank payout method type used for payouts in Malaysia. A sender can disburse funds into a beneficiary’s bank account in Malaysia. This payout method supports several banks in the region and allows the beneficiary to be paid in the currency of their choice.
The benefits for the user include the ability to create cross-border payouts and disburse funds into Malaysian bank accounts.
You need to find the required fields for each payout method type.
For that, you'll use Get Payout Required Fields. Enter my_local_bank as the value for the payout_method_type path parameter.
Below is a list of all the supported banks for my_local_bank and their bic_swift codes:
Bank Name | bic_swift | bic_swift (alternative) |
Affin Bank | PHBMMYKL | |
Affin Islamic Bank | AIBBMYKL | |
Agro Bank | AGOBMYKL | |
Alliance Bank | MFBBMYKL | |
Alliance Islamic Bank | ALSRMYKL | |
Al-Rajhi Banking and Investment Corporation (Malaysia) | RJHIMYKL | |
AMBank Islamic | AISLMYKL | |
AMBank | ARBKMYKL | |
Bank Islam Malaysia | BIMBMYKL | |
Bank Kerjasama Rakyat | BKRMMYKL | |
Bank Muamalat Malaysia | BMMBMYKL | |
Bank of America Malaysia | BOFAMY2X | |
Bank Simpanan Nasional | BSNAMYK1 | |
BNP Paribas Malaysia | BNPAMYKL | |
CIMB Bank | CIBBMYKL | CIBBMYKA |
CIMB Islamic Bank | CTBBMYKL | |
Citibank | CITIMYKL | |
Deutsche Bank Malaysia | DEUTMYKL | |
Hong Leong Bank | HLBBMYKL | |
Hong Leong Islamic Bank | HLIBMYKL | |
HSBC Amanah Malaysia | HMABMYKL | |
HSBC Bank | HBMBMYKL | |
Industrial & Commercial Bank of China (Malaysia) | ICBKMYKL | |
JP Morgan Chase Bank | CHASMYKX | |
Kuwait Finance House Malaysia | KFHOMYKL | |
Malayan Banking | MBBEMYKL | |
MayBank Islamic | MBISMYKL | |
Mizuho Bank (Malaysia) | MHCBMYKA | |
OCBC AL-AMIN Bank | OABBMYKL | |
OCBC Bank | OCBCMYKL | |
Public Bank | PBBEMYKL | |
Public Islamic Bank | PIBEMYK1 | |
RHB Bank | RHBBMYKL | |
RHB Islamic Bank | RHBAMYKL | |
Standard Chartered Bank | SCBLMYKX | |
Standard Chartered SAADIQ | SCSRMYKK | |
Sumitomo Mitsui Banking Corporation (Malaysia) | SMBCMYKL | |
United Overseas Bank (Malaysia) | UOVBMYKL | |
CIMB Investment Bank | COIMMYKL |
Use Create Payout with the following parameters:
Create Payout Request Parameters
Body Parameter | Description |
ewallet | Enter the wallet 'id' that you received when you created the company wallet in your sandbox. |
payout_amount | Enter 100 as the amount received by the beneficiary. |
payout_method_type | Enter my_local_bank as the payout method type. |
sender_currency | Enter USD as the code for United States Dollar, the sender's currency. |
sender_country | Enter US as the code for the United States, the sender's country. |
beneficiary_country | Enter MY as the code for Malaysia, the beneficiary's country. |
payout_currency | Enter MYR as the code for Malaysian Ringgit, the currency received by the beneficiary. |
sender_entity_type | Enter ‘individual’ as the type of entity for the sender. |
beneficiary_entity_type | Enter ‘individual’ as the type of entity for the beneficiary. |
beneficiary | Enter a 'beneficiary' object that has the following fields:
|
sender | Enter a 'sender' object that has the following fields:
|
description | Enter Salary payout - wallet to bank account as the description of the payout transaction. |
payout_options | Enter a ‘payout_options’ object that has the following fields:
|
Create Payout describes the fields in the response.
Details | Description |
Payout Method Category | bank |
Payout Request String | POMT = my_local_bank |
Country | Malaysia |
Sender Currency | USD, GBP, SGD, HKD, AUD |
Transaction Limits | Min: 1.00 MYR Max: 999,999 MYR |
Settlement Timeframe | 2-3 days |