3rd November 2022 - 3 min read
Maybank has announced that it will be discontinuing SMS TAC authorisation for all DuitNow transfers and approval of the addition of new Favourites starting from 8 November 2022. Instead, customers will need to use Secure2u to authorise these online banking activities once the update kicks in.
“This (update) is part of our continuous effort to enhance your online banking security and minimise the risks of TAC fraud, in line with Bank Negara Malaysia’s (BNM) latest update to combat financial scams,” said the bank in its notice, referring to the central bank’s latest directive for banks in Malaysia to adopt five additional safeguards, including migrating from SMS OTP.
The bank also encouraged customers to access their Secure2u feature via the MAE by Maybank2u (MAE) app, although those who are already using Secure2u on Maybank’s older Maybank2u app can still approve transactions as usual. “However, we highly recommend making the switch to the MAE app as it has all the M2U features and more,” it noted.
Maybank had also previously confirmed that it will eventually phase out the Maybank2u app, leaving the MAE app as its sole mobile banking app.
Aside from that, Maybank also reminded that there will be a 12-hour activation period if you’re enabling Maybank’s Secure2u on the MAE app for the first time, or if you’re enabling the feature on a different device. “To help prevent unauthorised approvals, you will only be able to use Secure2u to approve transactions after 12 hours,” it elaborated.
Maybank’s move to switch from SMS TAC authorisation to Secure2u has been a gradual one since the feature was introduced back in 2017. Over the years, the bank had enabled it for various online banking transactions, including all third party (Maybank to Maybank) and Interbank GIRO (IBG) transfers. Just last week, the feature was also expanded to authorise first-time favourite transfers and edits to selected account settings.
Maybank has also permanently moved Secure2u activations from the Maybank2u app to the MAE app for all future customers. In other words, if you are a new Maybank customer looking to set up your Secure2u feature, you can now only do it on MAE app.
If you’re unsure how to activate Secure2u on the MAE app, here’s a video tutorial for you from Maybank:
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