MALAYSIAN Maybank customers can now seamlessly send money to their loved ones in Singapore via DuitNow Overseas Transfer.
Maybank is one of the first few participating banks to offer this feature to its customers, following its launch by Bank Negara Malaysia at the recent Singapore FinTech Festival held on Nov 17.
This feat marks a significant step forward for Maybank in its efforts to provide customers with seamless financial solutions across the region, as DuitNow Overseas Transfer is another hassle-free option for Malaysians to make cross-border transactions.
Sending money across the border has never been easier with the introduction of DuitNow Overseas Transfer. This feature allows Maybank customers to instantly send funds to friends and family in Singapore by using the intended recipient’s mobile number.
The DuitNow Overseas Transfer service allows customers to effortlessly make instant transfers of up to RM3,000 per day to Singapore, which can be readily accessed via the Maybank2u webpage and MAE app.
For transactions exceeding RM3,000, Malaysian Maybank customers may opt for Maybank Overseas Transfer instead.
This service facilitates the same convenience and speed when making fund transfers from Maybank Malaysia to any bank in Singapore, which is also available via Maybank2u web and the MAE app.
Furthermore, Maybank has announced that customers will enjoy a fee waiver for DuitNow Overseas Transfer from now until further notice and zero transfer fees until Dec 31 for Maybank Overseas Transfer.
Maybank Singapore
Similarly, Maybank Singapore customers will be able to enjoy seamless transactions with PayNow Overseas Transfer, which will be rolled out progressively.
This service is accessible through Maybank2u SG (Lite) app and Maybank2u online banking, enabling Maybank customers to easily send money to over 50 DuitNow participating banks and non-financial institutions in Singapore.
Maybank Singapore has also taken strides in enhancing instant cross-border financial initiatives for its customers by introducing Maybank Overseas Transfer.
Transfer fees are currently waived for Singapore’s Maybank Overseas Transfer to Maybank Malaysia, with a minimal S$2 charge applicable for transfers to other banks in Malaysia.
Maybank Beyond Borders initiatives
Maybank Beyond Borders represents the bank’s commitment to delivering a comprehensive suite of digital cross-border services and financial solutions for the ever-evolving needs of their digitally savvy customers.
The newly launched Regional View feature enables easy access for customers to monitor their finances when they travel via a consolidated dashboard view of all their bank holdings, such as accounts, cards, loans and wealth products. This provides convenience when customers are on the go or pressed for time, enabling a quick check to ensure all their linked bank holdings are in order.
As the year draws to a close, Maybank customers can benefit from the Cross-border DuitNow QR feature, allowing hassle-free and cash-free transactions while travelling.
This feature enables customers to enjoy the convenience of making cashless transactions and is supported by participating merchants in Singapore, Indonesia, Thailand and China.
Additionally, accessing funds abroad is also trouble-free as Malaysia Maybank cardholders can make quick no-charge withdrawals for extra cash in hand at any Maybank ATMs overseas.
The launch of DuitNow Overseas Transfer, combined with other Maybank Beyond Border initiatives, opens up overseas transactions for over 1 million Malaysians working, studying, or travelling in Singapore – underlining Maybank’s commitment to redefine its financial services and commitment to deliver seamless financial solutions to facilitate regional payments interconnectivity, supporting the bank’s strategic thrust of customer centricity.
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