ICBC Bank (Malaysia) Wire Transfer

Wire transfer is the fastest mode of receiving money in your ICBC Bank (Malaysia) account from abroad. You can receive money into your ICBC Bank account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.

International Wire Transfer to ICBC Bank

International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in Malaysia) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.

Incoming International Wire Transfer Instructions

To receive international wire transfer in your ICBC Bank account, please provide the following wire instructions to the sending financial institution:

Bank Name:Industrial And Commercial Bank Of China (Malaysia)
SWIFT BIC Code for ICBC Bank:ICBKMYKL
Bank Address:No.4 Jalan Conlay
Kuala Lumpur 50450,
Kuala Lumpur, Malaysia
Beneficiary Account Number:Your complete ICBC Bank account number
(including leading zeros, if any)
Beneficiary Name:The full name of your account as it appears on your statement
Beneficiary Address:Your complete address

Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees.

Outgoing International Wire Transfer Instructions

To send international wire transfer from your ICBC Bank account, You need to know the following information about the person or company receiving the money:

1. The recipient’s account name and address
2. The recipient’s IBAN or account number
3. The name and address of recipient’s bank – including the BIC (Business Identifier Code) / SWIFT code / clearing code

Incoming Wire Transfer Fees for ICBC Bank Malaysia

International Incoming Wire Transfer Fees for ICBC Bank is as follows:

Payment typeCost
Inward Telegraphic Transfer
Payment in local currency at current buying rateRM 5.00
Inward TT for Foreign Currency AccountRM 15.00 in lieu of exchange

Outgoing Wire Transfer Fees for ICBC Bank Malaysia

International Outgoing Wire Transfer Fees for ICBC Bank is as follows:

Payment typeCost
Outward Telegraphic Transfer
RM 5,000 & below or equivalentRM 2.00 plus cable charges of RM 30.00
Above RM 5,000 or equivalentCable charges of RM 30.00
Outward TT for Foreign Currency Account
RM 5,000 & below or equivalentRM 2.00 plus cable charges of RM 30.00
Above RM 5,000 or equivalentRM 15.00 plus cable charges of RM 30.00

Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.

Wire Transfer Cutoff Time for ICBC Bank Malaysia

1. The Cut-off Time for ICBC Bank differs. Please visit your nearest branch for cut-off time.
2. Any requests received after cutoff time will normally be processed the next working day.

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