20th August 2026 - 3 min read
Ryt Bank has become the first digital bank in the country to let you activate and fund a new account using an ATM or a bank branch counter, removing the need to make that first transfer through online banking.
Until now, opening a Ryt Bank account meant doing everything on your phone, including the final step of transferring money in from another bank, which had to be done through online banking. If you had never registered for internet banking, or if you only ever handled money at an ATM or over the counter, that last step was where things stopped.
You can now put money into your new Ryt Bank account the same way you would send money to a friend or a family member. Walk up to an ATM, choose the transfer option, and send the amount to your Ryt Bank account. You can also do it at a bank branch counter with the help of a teller.
This works because Ryt Bank has joined Interbank GIRO, or IBG, the network that moves money between banks in Malaysia. Any bank that offers IBG transfers at its ATMs or counters can now send funds to a Ryt Bank account.
Wilson Soon, Interim CEO of Ryt Bank, said that banking still happens at an ATM or a branch for many Malaysians, and that offering another way to activate an account makes it easier for more people to take a first step into digital banking.
Depending on the sending bank and the time of day, an IBG transfer can take a few hours to arrive, and transfers made late in the day or over a weekend may only be processed on the next working day. If you are used to DuitNow transfers arriving in seconds, do not worry if your account is not active straight away.
Check the account number carefully before you confirm the transfer at the ATM, because money sent to the wrong account is far harder to recover than a payment you can cancel in an app. Do note that IBG fees vary between banks, so your sending bank may charge you a small amount for that first transfer.
Ryt Bank operates under a digital banking licence from Bank Negara Malaysia, and deposits are protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 per depositor per bank, the same protection you get with any other licensed bank in the country.
Ryt Bank crossed 1.2 million customers earlier this year, with people aged 50 and above among those using its in-app assistant. Adding ATM and branch activation means the bank no longer needs you to have an internet banking setup before it can take your deposit. Ryt Bank is the only digital bank in Malaysia offering this so far, so if you are helping a parent or grandparent open a digital account, it is currently the one that will work without online banking.
For more details, you can visit Ryt Bank’s website.
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As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.
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