New App Combining Digital Banking & E-Wallet
Maybank today launched a brand new app called MAE by Maybank2u, which was designed with the intention of providing Malaysians with practical solutions to money matters.
While it contains functionality that exists in Maybank2u, it goes beyond the facilitation of ordinary banking matters.
Here are 4 new features offered by MAE by Maybank2u.
Called Expenses, this tool gives users a single, holistic view of everything that is spent on Maybank accounts, cards, and QR transactions.
You can then sort those expenses into easy-to-understand categories such as food, utilities, and shopping to get more information about your spending habits.
Cash transactions, which are normally not recorded by the app, can now be included with a few clicks.
Tabung was designed to allow users to save consistently and regularly to meet their financial goals.
There are two types of Tabung that can be created: Individual and Group.
The group savings feature, which Maybank says is the first of its kind by a Malaysian bank, allows users to jointly save with friends or relatives for a purpose such as an annual vacation.
MAE by Maybank2u also offers new additional features called Boosters that transform moments of micro-spending into moments of economy.
There are 3 Boosters:
- Spare Change, which rounds up the expenses and transfers the balance to Tabung,
- Scan & Save, which credits savings made thanks to promotions used during QR transactions,
- Guilty Pleasure, which allows you to set a daily spending limit in any category of your choice and an amount to credit to your Tabung if the limit is exceeded.
4. Makan’s Mana Wheel
Food is something that always worries Malaysians, if only because they are usually spoiled for choice. Just think about how your office makes decisions about group meals.
Makan Mana Wheel aims to provide users with an easy way to decide what to eat at any time of the day.
Spin the wheel and dining options will be recommended to you, along with promotions from thousands of partner merchants across Malaysia.
Visa MAE debit card
This is a card that complements the MAE wallet, and you can use it to make purchases both locally and abroad.
Maybank says it also enjoys competitive exchange rates and exclusive benefits.
Interested users can apply for the debit card through the MAE app, and it will be delivered to their door.
Once you can travel safely again, the amount in the MAE wallet will be automatically converted to the country where the user is located, so that users know exactly how much is available for spending.
How to get MAE through Maybank2u
It is available for download from Google Play Store and Apple App Store.
For existing Maybank users: you just need to follow a simple security setup, after which they can start using the app immediately. Data from all your Maybank accounts will automatically be made available in the new app.
For non-Maybank users: you will still be able to open an MAE wallet via the app and complete the app without having to go to an agency. Once the application is successful, you will have access to all banking features and financial tools.
Other things to know
Okay, so now if you think, why should I switch to the new MAE if I already have the old one?
According to Maybank Group Chairman and CEO Datuk Abdul Farid Alias, the new app offers much more than the old one, so users are encouraged to make the switch for their own benefit.
The regular Maybank2u app will always coexist with the new MAE app, but Datuk Abdul Farid Alias said it may not stay that way for long.
The Visa MAE debit card will not replace your Maybank debit card as the latter is linked directly to your savings account, while the former is linked to your digital wallet (DEA).
The design of the card is currently not customizable.
- You can read more about what we wrote about Maybank here and the old MAE app here.
Featured Image Credit: Maybank
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