Tuesday, September 22, 2009


Nowadays, most of us using ATM (Automatic Teller Machine) for the purpose of

1. Withdrawal
2. Fund transfer
3. Payment.

Thus, understand the exact function of your ATM card save you time and money. If you notice carefully, there are small logos embedded behind the ATM card.
For the ATM card issued by local bank, you would probably see the MEPS logo behind.

What is MEPS?
MEPS (Malaysia Electronic Payment System), is ATM network sharing system. This system is adopted by all local banks in Malaysia.

How MEPS works?

If you are holding a MEPS enabled ATM card, congratulation. You can execute different transactions in Malaysia & overseas by using ATM machines from participated banks. Transactions include:
1. Withdrawal from ATM machine nationwide.
2. Withdrawal from overseas ATM machine in Indonesia, Singapore, Thailand, China and Saudi Arabia. (It only work for participated banks)
3. Interbank Fund Transfer.
4. E-debit, it works like debit card.
5. Financial Process Exchange, FPX is used for e-commerce purpose.
6. Interbank Mobile Prepaid Top – Up.

An additional function provide by MEPS is interbank GIRO. It mainly enables banking service via
- Internet banking
- Walk – in banking
- Phone banking

There are both local and foreign banks providing MEPS IBG service. For information of banks providing MEPS IBG service, visit here.

If you are holding ATM card issued by foreign bank, I am so sorry to tell you that MEPS is not available to you. (Ps: Al-Rajhl Bank is the first foreign bank to hook up with MEPS).

Do not get upset my friend. The foreign banks in Malaysia had allied together into sharing ATM network with a system called HOUSe.

What is HOUSE?
HOUSe is another ATM network sharing system available for foreign banks in Malaysia.

How HOUSe works?
You can enjoy withdrawal service using 300 ATM machines available in any participated banks below:

2. UOB
3. Standard Chartered

There are more than eight thousand of local banks’ ATM machines are MEPS enabled. At a transaction cost of RM 1, I consider it as unnecessary spending as I don’t usually withdraw money in other banks’ ATM unless I am fed up with the long queue, rushing for something or the machine breakdown (But i had withdraw several times from other banks too =.="). Third party fund transfer costing RM 1 is acceptable especially you stay far from the bank you want to deposit.

On the other hand, it is good news for foreign banks’ ATM card owners as HOUSe is available to them. RM 1 transaction cost remains affordable (It is better than you have to travel to another bank which is far away from home to withdaw money). However, there are only 300 ATM machines providing such service. The number of foreign bank branch is also limited.

I believe that a lot of people owned more than one bank account. It is significant that local bank ATM card is providing a lot more service than foreign bank in local scene. The saying “when in Rome, do as the Roman do” is right. Therefore, using the ATM card issued by Malaysian banks give you more advantages than foreign one when you are in Malaysia.


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