How to Transfer Money to Overseas using M2U Visa Direct

The Cheapest Way to Transfer Money to Overseas

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Normally, for internationally money transfer, I would prefer  Western Union to send money from Turkey to Malaysia, as the fee is much cheaper compare to Telegraphic Transfer (TT).

I believe a lot of businessman and parents are looking for a cheaper way to send money abroad either to pay for product from oversea or paying their children university tuition fee..

Maybank has introduced a cheapest way to send money abroad by using M2U Visa Direct.

M2U Visa Direct enables Maybank2u customers to transfer money to any overseas issued debit, credit or prepaid Visa Cardholders via Maybank2u and Visa Network.

You can make a real time fund transfer for a flat service that cost RM 10 to more than 200 countries. However you can send money for FREE /waived from 4 November till 31 December 2014.

You can send to any overseas issued Visa cards worldwide. However, M2U Visa Direct is not available to Visa cards issued in only 8 countries i.e.

  1. Colombia
  2. Cuba
  3. Iran
  4. Israel
  5. USA
  6. Sudan
  7. Syria
  8. Venezuela.

Too bad USA is on the list, since a lot of Malaysian students are studying there. As for businessman you can always find other alternatives such as Singapore to buy your product. As nowadays, regional agent will take care all enquiries from ASEAN countries.

 How To Transfer Money Abroad Using M2U Visa Direct

M2U Visa Direct is a cross border fund transfer service that allows Maybank Savings and Current account customers to perform fund transfers using Maybank2u online to overseas Visa debit, credit and prepaid cardholders via Maybank2u.

The funds are credited directly to the beneficiary’s card account where the beneficiary can either perform a cash withdrawal or spend at participating Visa merchants.

Please follow below instructions to use M2U Visa Direct using Maybank2u :

1) Open Maybank2u account online. Go to Transfers and click Open M2U Visa Direct.

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2) Declaration and Terms and Conditions. This is Bank Negara Foreign Exchange Administration Rules, so you have to declare either you are Resident with or without  Domestic borrowing. Click Agree to Terms and Conditions then click Accept.

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3) Next step, you have to declare purpose of transferring the money abroad. Such as

i) Transferring to a Resident for Investment Abroad

ii) Transferring to Non Resident for Investment Abroad

iii) Education

iv) Empoyment

v) Payment to Immediate family members

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4) Key in recipient’s Visa Card number and name and click continue

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5) On this next screen, please key in amount in USD or Malaysian Ringgit that you want to transfer.  Bare in mind  there is a transfer limit.

  • Minimum transfer amount – RM300
  • Maximum transfer amount – RM7,500 daily
  • Maximum transaction limit of RM50K or 8 transactions per calendar month

M2U Visa Direct 2

6) Request for TAC and key in your TAC code and click confirm and you are good to go.

* Notice that the Exchange Rate that bank charge is quite high 3.5397 as ringgit value is falling.

** Also you can see the Fast Fund Status  on the screen.

  • Fast Fund – within 30 minutes
  • Non fast fund – within 2 working days

M2U Visa Direct

M2U Visa Direct Features

M2U Visa Direct Service is 24 hours x 7 days except during Maybank2u maintenance hours. Just make sure you have enough money in your Maybank account.

You can almost make a transfer on a real time directly to overseas Visa debit, credit and prepaid card accounts to more than 200 countries. The beneficiary has the option to use the funds directly at participating Visa merchants or cashing it out. No “hidden cost ” to beneficiary to receive the money.

 

My 2 cents

M2U is convenient and cheap way to send money to overseas. You don’t have to go to the bank to fill in forms and wait for your number like Telegraphic Transfer or Western Union.

However, due to the currency rate for Ringgit is worsening right now maybe its not the best time to send your money abroad.

Maybank Credit Card 100% Cashback Campaign

RM 3 Millions to be given away

#Maybank returns with a new campaign with more than RM 3 Millions to give away when you shop with Maybank Credit Card. This campaign start from 1 October 2014 till 31 January 2015. You have 4 Months to spend with Maybank Credit Card.

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# You can spend on petrol, groceries, dining and everything else paid off. No minimum spend required, all you have to do is just follow the steps below!

How To Participate

REGISTER to participate via SMS DAILY (space) 12-digit NRIC Number to 66628.
SPEND on everything with Maybank Cards.
GET Cashback up to 100% everyday.

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Terms and Conditions:

Campaign period :  1 October 2014 until 31 January 2015.

Applicable to Maybank MasterCard, Visa or American Express Credit/ Charge Cards Card members.

Registration is open to Principal Card members only.

Cashback is capped at RM300 per Card member per day
First-come, first-served basis
Subject to a total RM25,000 everyday, whichever comes first.

Click here for more details offer.

83 person per day will be Lucky

# The maximum cash back you can receive is RM 9,000 per month. Since Cashback is capped at RM 300 per day. But there is no guarantee you can get the cash back as maximum Maybank will pay back per day is RM 25, 000. So there will be 83 lucky person to get RM 300 Cashback each.

# This campaign only valid for principle card holder only so you can keep your Debit Card. All supplementary cards’ spending will be consolidated under the principal card’s account but only principle card holder will be counted.

# Since this Cashback is first come, first serve basis, RM 300 limit per card holder and RM 25, 000 per day by Maybank. We therefore advise you to make your online purchases on the first week of the month. Good Luck 🙂

# RM 25 000 per day x 120 days = RM 3 Millions

Tips using Western Union with TEB Bank Turkey

Sending Money to Malaysia

Living abroad in Turkey is quite challenging. My first impression when I came to Ankara is that weather would be my big problem. Communication and food should be no problem. But I was wrong. Communication is a big problem here. English is not their favourite subject I think.

Eating in a restaurant shouldn’t be much problem, as I can point what food I want and pay. But when using Bank service like Western Union here is quite trouble some. I need to send money by Western Union to Malaysia. After asking a few banks, I find that Turkish Economy Bank (TEB) Ankara is the easiest. One of the staff can speak good English.

TEB Bank Ankara

But the problem is, the staff that handle my documents did not speak much English. I face a problem today, when I fill in the Western Union’s form as a receiver. I did not realise it until my brother told me . I rushed to the bank and explain to the English speaking lady . Then she helped me explained it to her friend at the counter. I am so relieved that I did not have to pay commission fee once more. I  just need sign a new form saying that I am the sender. 🙂 (more…)

Beware of African Internet Scammer

Student or Conman

Lately, Malaysian Immigration and Police has increased their raid to nab illegal African. From internet fraud to drug trafficking and messing with the local girl you just name it, the problem that their brought in here. Their modus operandi is simple, travel to Malaysia using student visa and find as much victim as their can.

The only reason they wan to come here is to make more money and not for knowledge. They already earn their scam degree in their country. “Nigerian Scam”, or “419 Scam” (so named because of the Section Number of Nigerian criminal law that applies to it), can be varies from fake identity on online dating to asking for money for custom clearance. Sweet talk and fake picture are their latest scam where not only Malaysian woman fall for it but also Australian woman. The Nigerian syndicate use Malaysia as their base for criminal activity. (more…)

Infolinks Monetize your site without slowing it down

Other than Google Adsense, Infolinks is another method that I use to make money online. I did Kontera before, but the earning is not that much. A study was published online saying that Infolinks is 50 times faster than other In-Text Ads Network. This is great news. As we all know,  earlier this year Google announced that website load time impacts Google Page Rank. In simple words, if your site load very slow, you will get lower rank from Google. You can check your site load time with Google’s Page Speed Tool. Test yours now!

Personally, I don’t really bother about this Page Rank issue. The main thing is to write better content on your blog. Increase traffic and related ad will make your traffic click. If your site load fast but with no real issues, then it will be so bad. However, fast load still important to maintain your traffic.

The Infographic below examines 3 popular site elements, Toolbars, In-Text Ads and Social Buttons and how they are affecting your speedy ways. Read on for some practical tips to keep your site in the fast lane.

Keep in mind the following points before reviewing the Google Page Rank Race Infographic below to improve your overall speed and search ranking for your own websites and blogs:

  • The longer it takes to your page to load, the lower rank your page receives
  • Higher Page Rank = More Google Traffic
  • More Concise Code = Faster and more pleasant browsing experience
  • Javascript can greatly slow down the speed and performance of your web site

    (more…)

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