Buy bitcoin with FPX online banking

What is FPX online banking?

FPX, short for Financial Process Exchange, is Malaysia's online banking payment rail, operated by Payments Network Malaysia Sdn Bhd (PayNet), the national payments operator. You pick your bank on the merchant's checkout page, sign in to your own internet or mobile banking, and approve the debit there, so the money moves straight out of your bank account. PayNet lists more than 20 participating banks, covering every major Malaysian retail banking group, and FPX is the standard way to pay a local exchange or e-commerce merchant in ringgit.

Speed

Real time: the account is debited and the merchant gets its confirmation while you are still on the payment page.

Cost

Normally nothing for the payer, because most participating merchants absorb the FPX transaction fee, though a biller can choose to pass on a flat charge.

Limits

PayNet caps a single FPX payment at RM1.00 to RM30,000 from a personal account and RM2.00 to RM1,000,000 from a company account, and your own internet banking limit applies if it is lower.

Speed and cost describe the rail itself. What an exchange adds on top varies by platform and is shown per exchange below.

Using FPX online banking in Malaysia

FPX online banking appears in one country guide on this site, Malaysia, where deposits settle in Malaysian ringgit (MYR). Buyers there fund exchange accounts with DuitNow, Local bank transfer, Credit or debit card (on international platforms) as well, and the country guide ranks the exchanges that take each one.

Buy bitcoin with FPX online banking in Malaysia