Question: Cash Deposit

By: karenmarie
January 5th, 2009 • Related • Filed Under
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Hi, emmagem :) I’m very very (stress on the very) new with the whole online shopping scene. I’ve just been browsing through loads of blogshops and I’d like to make a few purchases! As I’ve never bought anything online before, I was wondering if you can help me by filling me in on money transfers via cash deposit. Is it the same with every bank?

-xoxo, Syaz.

Hey Syaz,

Shopping online in Malaysia is pretty easy as most of the blogshop does not require a credit card. Once you’ve made your order, the online shop typically waits for you to transfer money first before actually sending out your items. They accept bank transfers/cash deposit through various banks. Bank transfers/deposit can be done in two ways:

  • Going to the bank
  • Online banking

Going to the bank

One way you could transfer is to go to the required bank to transfer the money to the other party’s account. Different banks have different ways of accepting cash deposit. Some banks have cash deposit machines outside near the ATMs. That’s the easier way to transfer money to a bank account. Just go to the machines, type in the account number and put in the cash. It is that simple:) But the downside of this method is that you’d have to pay only in terms on bank notes. For example, you can only pay RM5, RM10, RM50 etc. If your purchase is RM42.50, then you’d have to pay the extra fifty cent as the machines don’t usually take coins.

Sometimes, the bank’s machines are faulty and then you’d have to take a number and line up to meet the teller to make a cash deposit. It may be very tiresome sometimes if the bank has a lot of customers for that day, if not, your number will be called in no time and you can make a deposit. I think it works the same in every bank.

Online banking

Another easier way to deposit cash is by getting a bank account and signing up for their e-banking system. Some of these banks that offer e-banking in Malaysia are:

  1. Maybank2u
  2. CIMB Clicks
  3. Hong Leong Bank Online Banking
  4. EON Bank Internet Banking
  5. Public e-Bank
  6. PayPal
  7. Citibank
  8. HSBC

After getting one, you’d be able to deposit money the minute you agree on your order with the online shop. All you’d have to do is log in and transfer the money to the other party. The system is different for each bank of course, but they follow the same principles of transfering money through funds transfer. Read how to transfer money through Maybank in this article written not to long ago.

Hope that helps you understand how to transfer money :)

Source:

Image Credit for ATM machine

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There Are 6 Responses So Far. »

  1. Comment by myra
    7:45 pm on January 5th, 2009 :

    i think the easiest way is
    1. go to the bank of the account’s recipient.
    2. insert your ATM Card of any bank, but with money in it lah.
    3. Enter your pincode yadaa yadaa.
    4. Select Interbank Fund Transfer, if there isn’t at the first screen, try selecting MORE.
    5. Select you’re transferring to the ATM’s Bank or your ATM Card’s Bank.
    6. There’ll be a short notice informing you that your name will be revealed to the recipient.
    7. Enter the recipient’s account number.
    8. The name of the account holder will be shown.
    9. Enter the amount of money you’re transferring.
    10. VOILA, done.

    It’s easier actually because the deposit machine sometimes could be such anal when you have to insert cash again and again if the machine couldn’t read the notes.

  2. Comment by Syaz
    3:41 am on January 6th, 2009 :

    Thank you emmagem and myra :)
    I’ll now embark on my first ever online shopping journey, with much thanks to both of you for helping me out.

  3. Comment by Ladies In The House
    12:34 pm on January 8th, 2009 :

    Ya la..It’s work!!
    I just try it yesterday after reading Myra comment…
    Not..It just getting easy & easier!!

  4. Comment by Ladies In The House
    12:36 pm on January 8th, 2009 :

    Ya la..It’s work!!
    I just try it yesterday after reading Myra comment…
    Not..It just getting easy & easier!!
    Correction…
    Now it’s getting easy & easier!!
    Thanks Myra!!

  5. Comment by jiji
    5:42 pm on January 26th, 2009 :

    Usually Ive been paying via online banking but there were recent transactions which need me to pay via the Cash Deposit Machine instead.since the machine is able to accept Rm10 for the smallest note, I had to pay more and requested the sellers to return the balance to me via parcel/bank transfer.

    However, after almost a month none of these sellers seem to be returning my excess payment.this has definitely make me upset and starting to wonder the honesty among some of these online sellers.Just imagine, if this incident does not only occur to me but to many girls out there..how much profit have they gain via this method?

  6. Comment by karenmarie
    1:25 pm on January 28th, 2009 :

    That’s why e-banking is the way to go :D

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