Tag Archives: Maybank

Maybank Introduces New “Money Lock” Feature on MAE App for Better Security and Fraud Prevention

January 2, 2025 Nur Jeevan Leave a comment

Maybank has taken a significant step towards boosting online banking security with the launch of Money Lock, a first-of-its-kind feature on the MAE app. This innovative tool empowers customers to take control of their finances by allowing them to “lock” specific amounts within their savings or current accounts, effectively preventing online access to those funds.

Peace of Mind with Secured Bank Balances

Money Lock addresses a growing concern for many: online scams and fraudulent activity. By adding this extra layer of protection, Maybank allows its customers to enjoy the convenience of online banking with a heightened sense of security.

The feature offers a high degree of user control. Customers can choose to lock any amount from RM10 upwards, right up to their entire account balance. This flexibility allows for tailored protection based on individual needs. Additionally, increasing locked amounts is a breeze through the MAE app, and there are no fees or restrictions on how often Money Lock can be activated.

Money Lock is the latest feature focused on creating a more secure banking environment for bankers. Malay The introduction of Money Lock in Malaysia follows the feature’s successful implementation in Singapore.

“Money Lock empowers customers with confidence,” states Syed Ahmad Taufik Albar, Group CEO of Community Financial Services at Maybank. He emphasizes that customers can conduct online transactions securely while still earning interest on their locked funds.

Unlocking Funds and Avoiding Disruptions

Unlocking requires a visit to a Maybank ATM or branch for verification, ensuring the locked funds remain secure. This step is crucial in preventing unauthorized access.

Maybank emphasizes the importance of careful financial planning before activating Money Lock. Customers should consider upcoming commitments and ensure sufficient funds are available for essential transactions to avoid disruptions.

A Multi-Layered Approach to Fraud Prevention & Security

Money Lock is one piece of a comprehensive security puzzle. Maybank highlights other measures taken to combat fraud, including replacing SMS OTP with the more secure Secure2u system, restricting online banking access to one device per customer, and implementing cooling-off periods for limit increases.

Alongside technological advancements, customer awareness remains vital in the fight against scams. Maybank encourages users to be cautious of calls and messages from unknown numbers, to only download apps from official stores, and to never share online banking credentials with anyone.

Business, Lifestyle, News

Maybank Enhances Secure2u Verification Process for Increased Security

October 26, 2023 Nur Jeevan Leave a comment

Maybank is ramping up its security measures to protect customers from unauthorized transactions and financial scams. The bank has introduced an additional verification process for its Secure2u authentication method used for online banking transactions on the MAE app and Maybank2u web.

Starting October 31, 2023, first-time Secure2u users or those accessing it from a new device can securely activate it at any Maybank ATM across Malaysia. This new measure complements the five anti-scam measures introduced by the bank in July 2023.

Dato’ John Chong, Group CEO of Community Financial Services at Maybank, explained the significance of this initiative. He stated that allowing customers to self-activate Secure2u via an ATM enables them to physically verify their identity, giving them greater control over their online banking authorization process. This not only safeguards their accounts but also their finances from potential scammers.

The activation process is simple. Customers need to follow two steps:

Register for Secure2u on the MAE app, and
Activate Secure2u using their debit, credit, or charge card PIN number at any of Maybank’s 3,000 ATMs nationwide.

Once activated via ATM, customers can begin approving transactions after a 12-hour wait period. The bank may adjust this cooling-off period based on scam trends and transaction patterns. This step ensures that customers have sole approval authority over their Secure2u registration, adding an extra layer of security.

Maybank’s extensive network of ATMs ensures easy access for customers. These ATMs operate from 6:00 AM to 12:00 AM daily and are strategically located in branches, service centres, shopping malls, petrol stations, train stations, hospitals, and more.

For a step-by-step guide on Secure2u activation and more information, visit maybank.my/secure2u.

Business

Shopee & Maybank Coin Partnership for New Credit Card

June 30, 2020 Nur Jeevan Leave a comment

eCommerce is growing in Malaysia with an increasing number of Malaysians opting to shop online when it comes to getting their daily needs and essentials. In fact, Shopee reports that users have been spending about 20% more time on their platform on a weekly basis. The increase, spurred by the recent movement control order (MCO), indicates that consumers are increasingly more willing to shop online.

As more consumers turn to online platforms, it provides a golden opportunity for Shopee and its partners to incentivise their platforms. Working together with one of Malaysia’s largest banks, Maybank, Shopee Malaysia and Visa have launched a new platinum credit card. The new Maybank Shopee Credit Card will reward users with Shopee coins for every transaction online and offline. Users will also receive extra bonuses such as 5x the coins during Shopee’s monthly payday sales on the 28th of every month and 4x Shopee coins for dining, entertainment and contactless payments.

Cardholders can then use these coins on Shopee to offset future purchases and redeem vouchers including F&B and services from the Daily Coins Rewards feature on the App. What’s more, cardholders who rack up more than 5,000 coins will be rewarded with Maybank TreatsPoints which they can use to redeem gifts from Maybank.

Malaysians between 21 and 65 years of age can apply for the card beginning on July 1, 2020. Applicants will need to have an annual income of MYR36,000. The card comes with a lifetime annual waiver. Successful applicants will receive 5,000 Shopee coins when they spend MYR300 within their first 60 days.

The new credit card comes just ahead of Shopee’s annual 7.7 mid year sale which kicks off on 7 July. As such, early adopters who successfully apply for the card from 1 July to 7 July will be rewarded with Shopee Vouchers worth MYR500 when they spend MYR300 within their first 45 days. The limited offer can be redeemed on a first come, first served basis.

The mid year sale also brings 50% coins cashback for all Shopee users on a daily basis. Users can also win up to 7 million coins by playing Shopee Claw, Shopee Candy, Shopee Garden, Shopee Poly, Shopee Dance and more during the sale period. Shopee’s Shocking Sale also makes a return with deals from as low as MYR0.77 during the 7 July Sale.

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