I received a message from Maybank2u that I was selected for pre-register for DuitNow. At first, I thought that I will receive money from Maybank. Wow, I am so lucky today.
I was wrong. It’s actually a new way to send and receive money thru all bank in Malaysia.
What is DuitNow?
DuitNow is actually a new real-time online fund transfer service that allows you to transfer funds to your recipient’s
DuitNow ID instead of their account number. Basically, it just replaces your bank account number and makes payment easier.
You can register and transfer funds using DuitNow via Maybank2u and Maybank2u Biz. This is an industry-wide initiative among all banks to simplify funds transfers while maintaining a high level of security.
What is DuitNow ID?
DuitNow ID is an identifier which will be used to register your account numbers and it can consist of any of
the below. You can register one DuitNow ID to one account e.g. your mobile number to your Savings
Account and your NRIC to your Current Account.
a) Mobile Number
c) Army or Police Number
d) Passport Number
e) Business Registration Number (for Maybank2u Biz account holders)
DuitNow ID is unique, hence can only be registered to one account, regardless of whether the
accounts are from the same bank or different banks. So you need different DuitNow ID for each account that you have.
At the moment, Savings Accounts and Current Accounts can be registered for DuitNow. You can choose which account that you want to register with DuitNow. You can change the account once the features are available via Maybank2u/ Maybank2u Biz or at any Maybank branch starting December onwards.
DuitNow for Foreigner
Yes, you may register in M2U provided you have an active Maybank2u login and username. DuitNow
registration can be performed using your international mobile number or the passport number that
you have registered with the bank.
You may also register at any Maybank branch. You also can update your DuitNow mobile number via Maybank2u and your passport number at any Maybank branch.
Maximum Transfer for DuitNow
RM50,000 is the maximum standalone transfer via M2U. However, for M2U Biz, daily maximum
standalone transfer via M2U amount is RM 100,000.
Transaction Fees for DuitNow
Transfers up to RM5,000 are free while a charge of RM0.50 per transaction applies for transactions above
RM5,000. (RM0.50 charges applies for DuitNow transaction via M2U and M2U Biz)
Verification for DuitNow ID
Before confirming the transfer, it’s important that you check that the name belongs to the intended recipient. When you keyed in the DuitNow ID, the registered account holder’s name will be displayed.
Update your mobile number
If your mobile number in the bank’s system is outdated, you can update your mobile number at any of Maybank branches or via any Maybank ATM. The system will automatically de-register the outdated number and you can go to Maybank2u/ Maybank2u Biz to register your new mobile number on the next day.
You cannot ask a third person to register your mobile number to their account. No, Maybank will check the mobile number against the account holder’s details before allowing the registration.
Opt out from the DuitNow pre-registration
Yes, you may deregister for DuitNow from 8 Oct – 21 Oct 2018 using the steps below:
Step 1: Select here Deregister DuitNow
Step 2: Enter your Reference Number and your ID
Step 3: Verify your details. Select ‘Yes’ to opt out
DuitNow service is coming soon
DuitNow pre-registration applies to selected customers. For those who are selected, you will be notified via Maybank2u website Inbox and Maybank app push notification.
Source : DuitNow