Maybank Updates Daily Transaction Limits For Individual, Sole Proprietor Accountholders

Alex Cheong Pui Yin

26th May 2022 - 2 min read

Maybank has announced that its individual and sole proprietor (business) accountholders will be provided with a new daily limit for selected transactions, including interbank GIRO (IBG) and DuitNow transfers, as well as DuitNow transactions. This is set to take effect starting from 18 June 2022.

With this, Maybank’s individual accountholders will now see their current daily limit for the following transactions updated to a new amount:

Transactions	Current daily limit	New daily limit (18 June onwards)
– Interbank GIRO (IBG) and DuitNow Transfer (to account) – DuitNow transactions	RM30,000 RM50,000	RM50,000* (combined limit for IBG, DuitNow Transfer, and DuitNow) * Higher transfer limit allowed based on total investable assets with Maybank

Meanwhile, the following changes will apply to sole proprietor accountholders:

Transactions	Current daily limit	New daily limit (18 June onwards)
3^rd party	RM30,000	RM100,000
– Interbank GIRO (IBG) and DuitNow Transfer (to account) – DuitNow transactions	RM30,000 RM50,000	RM100,000 (combined limit for IBG, DuitNow Transfer, and DuitNow)

Maybank further clarified that all the above changes will be reflected on the Maybank2u website and app, as well as the MAE by Maybank2u (MAE) app.

“To check or change your transaction limits, log in to Maybank2u web, go to ‘Settings’ and select ‘Pay & Transfer’. Please note that this action will require TAC authorisation via SMS to complete,” the bank stated. It also reminded customers to never share their TAC, login username and password, as well as other banking details with anyone.

(Source: Maybank)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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