SMSHMY22

SUNWAY MONEY SDN BHD, BIC/SWIFT Code Details

Payment Instructions

General instructions for international payments to banks in MALAYSIA:

For information about Bank Negara Malaysia (Central Bank of Malaysia), please visit www.bnm.gov.my.

Prior approval may be required for certain payments under Malaysia's Foreign Exchange (FE) Policy. Speculative trading is prohibited. Payments in MYR to and from accounts held with a Labuan bank are not allowed due to regulatory restrictions.

The Foreign Exchange Administration Rules are subject to change. Refer to Bank Negara Malaysia at bnm.my/fea for the latest updates.

Additional documentation may be required for compliance with FE Notices or other legal obligations. J.P. Morgan may request supporting documents to validate the purpose of a payment. These should be sent to fea.screening.unit@jpmorgan.com. Transactions lacking necessary documentation or with unclear purpose codes may face delays or be rejected.

Malaysia's Payment Purpose Codes

For more guidance on Malaysia’s purpose codes, please use the following link.

Malaysia's List of Institutional Sector Codes

For more guidance on Malaysia’s institutional sector codes, please use the following link.

Payment in MYR involving Non-Residents:

Non-residents are allowed to make or receive MYR in Malaysia from or to a resident or a non-resident for the following purposes:

J.P. Morgan Malaysia has Appointed Overseas Offices (AOO) to facilitate MYR transactions between Non-Residents and Residents. The list of approved J.P. Morgan affiliates under the BNM Appointed Overseas Office (AOO) Framework can be found at BNM website.

Supporting documents are required from the remitter for transactions at MYR3,000,000 and above. Transactions without supporting documents, incomplete, or unclear purpose codes will be delayed or rejected. Non-Resident Remittance Service Providers may use J.P. Morgan AOO’s to facilitate MYR transactions in line with FE Policy. Non-Resident Financial Institutions can only facilitate international trade settlement in goods or services with a Resident. Mandatory information from the remitter includes residency status and transaction purpose details.

For cross-border transactions to Malaysia, please follow the guidelines:

Payments to Malaysia can involve a variety of services, including wages and salaries in kind, consulting services, advertising, market research, and equity investments. Ensure that all payments comply with Malaysian financial policies and regulations.

When it involves payments between non-residents, ensure the services are rendered within Malaysia.


Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), address, and country of the ordering customer. Use of initials can delay receipt of funds.

Beneficiary Customer (SWIFT MT103 F59): Include account, full name (no initials), address, and country of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary.

In J.P. Morgan Access, the ‘Beneficiary Name’ field has a 35 character limit, and longer beneficiary names can be continued in ‘Address Line 1’.

Beneficiary Bank (SWIFT MT103 F57): Include sort code (if applicable), SWIFT BIC with branch identifier, full name, and address of the beneficiary bank.

SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMYxx or xxxxMYxxxxx.

Remittance Information (SWIFT MT103 F70) or Sender to Receiver Information (SWIFT MT103 F72): Provide a purpose for payment code and the reason for payment proceeded by '/ACC/, and mandatory transaction information (i.e. transaction type, institutional sector code, beneficiary, and ultimate remitter’s residency status). Payments received without mandatory transaction information may be cancelled and returned to the remitter.

Format: /ACC/PURPOSE/5!n/24x /REP/3x/2x /BENEFRES/2x/ORDERRES/2x.

If submitting a PaySource GFF file, this should be included on the first line of SR record with proposed format as /REG/5!n/24x (REG = code word for regulatory reporting, 5!n = five digits valid ITIS purpose code, 24x = 24 alphanumeric purpose description).

If submitting a SWIFT, apply the same input format under SWIFT MT103 F70 or F72.

IBAN: No

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of SUNWAY MONEY SDN BHD for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from SUNWAY MONEY SDN BHD, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.