Malaysia’s Maybank and Western Union claim they have revolutionised the money transfer process with the the launch of the first digital remittance service in Malaysia via its Maybank2u mobile banking App.
The new mobile App service will allow Maybank customers to transfer money to more than 500,000 Western Union®Agent locations in over 200 countries and territories.
The money transfer service which is available 24 hours a day, seven days a week including public holidays, allows customers to transfer up to RM10,000 in a day. Recipients are able to receive money quickly after it is wired by the sender. The digital remittance service is also available on the Maybank2u website.
Most Digitally Engaged Bank
«We have revolutionised the money transfer processes for Maybank customers when comparing with current practice where they need to visit a Western Union Agent location in order to transfer money. Now, all they need to do is log in to the M2u App and select the Western Union service, and they are good to go,» said Lim Hong Tat, Maybank Group Head, Community Financial Services.
Maybank currently has the highest digitally engaged customer base, logging in and transacting far more than its peers. Maybank is the leading mobile banking provider in the country with 62 percent of all mobile banking transactions in the Malaysian market, which is performed via the Maybank2u App.
