[Review] Maybank’s New MAE VS M2U App Features & Benefits

Since the launch of the MAE app, AppStore and Google Play users have reacted in a mixed way to the app’s comparison with its predecessor, the M2U app.

I have been using M2U for 5 years now, and until today it is still one of my favorite financial apps for regularly making payments and checking my balance.

But knowing that I will eventually have to say goodbye to M2U like so many of us who are fond of it, I wanted to know why MAE was worth going through now.

A more user-friendly interface from the start

The difference between MAE and M2U is having more quality of life features like expense tracker, Tabung so you can save for a specific goal, Makan mana wheel, boosters to transfer spare currency to savings, and more.

Some additional things they have on the app are food deals and promotions and several articles about their app and managing your finances. You can read more about these features here.

When I first downloaded the app, I thought the UI was definitely more user-friendly than M2U’s. There was more guidance on which functions do what in the app. Unlike M2U, I could immediately navigate the app easily.

The first page alone was vast

I could also see all of my app activity in one place without having to jump to different sections of the app to access it.

For example, on the M2U app, I previously could only see my savings account balance on one page, and I had to click on that section to see what my spending was.

On the MAE app, however, I could immediately see what my top expenses for the month were, my total expenses for the month, and my savings account balance all on one page. It was therefore a plus for MAE compared to M2U during first impressions.

An improved money transfer experience

Since M2U was primarily for making payments, I made my first transfer yesterday to see if there were any big differences between the two apps.

Although the user interface looks more user-friendly on MAE, there was not too big a difference between transferring through MAE and through M2U.

The only small difference I noticed is that I can immediately click on my third-party favorites to transfer to without having to go through the extra step of clicking the category to transfer to.

I was also able to immediately see which banks my third-party favorites are using as they added bank icons next to their names. In M2U, it was only listed under their names and account numbers.

Browse a few pages before you can transfer to the M2U application

This is a handy feature if you have friends with different bank accounts who sometimes need you to transfer to certain accounts.

Another small difference that I liked was that I didn’t have to enter my password every time I wanted to make a transfer, which I found quite inconvenient when using M2U as it takes longer to load. time.

Again, some people prefer this extra step of security. Maybe MAE could then make this extra step a preference via settings to please both crowds.

Improvements can still be made

One of the features I look forward to using the most is the invoice split feature (when it’s safer to collect, of course) which wasn’t present in the M2U app.

Since most of my friends also use Maybank and we regularly split bills to transfer them, this will be a very handy feature for us.

This allows us to create a group to split the invoice, and we no longer have to calculate ourselves or use other invoice splitting apps like Splitwise.

When it comes to tracking expenses, while I understand how the expense pie chart can be useful in helping you track your expense categories, it’s not entirely accurate.

Ordering delivery via GrabFood is categorized under Transport instead of Food & Beverage which can be misleading if I were to come back to it.

Also, when I buy things online from Shopee, the expenses are included under Finances instead of Shopping.

This means that I will have to manually rearrange them myself on paper or in another app to properly track my spending for now, which is just unwanted extra work for users.

Then again, I understand this app is still quite new so they can only track Simple Shopping expenses if I had to pay with my card at a physical retail store. So, meticulously categorizing these expenses would take time and an update on their end.

Including the money going into the pie chart would also be more helpful than just spending, as I think it’s important to see the fraction of your spending versus your savings for a better overview of your personal finances.

MAE Tabung function and expenditure tracking

Quality of life characteristics It can be useful

When it comes to their Tabung feature, it’s hard for me to measure how useful it has been to me so far, as I haven’t cashed in to buy something yet.

I like the way it is detailed to guide you to save for something you want, like setting a date and choosing whether you want to contribute weekly or monthly.

A good thing about this feature is that you can also add boosters like spare parts in the Tabung which is a useful option to speed up your goal achievement.

Also, if you want to set up a Tabung for travel plans, you can add other MAE users in the Tabung with you and record together. This makes it easier to see whether this trip with friends will take place or not, and to keep travel plans and expenses transparent.

For someone like me with limited F&B options near my home, the Makan Mana wheel wasn’t much use. However, I can see that this is more helpful once we are able to return to our office in Taipan where we are spoiled for choice of food.

It would also be a fun way to settle down over lunch with my co-workers, especially since we’re all undecided as to where to go.

The verdict: will I make the change?

Yes. Despite the expense tracking feature still not being at its best, I enjoyed using the MAE app much more than the M2U app.

I especially enjoyed the convenience and user interface of the MAE app, and by the end of the year I will probably be able to decide if the Tabung functionality has changed in any way the management. of my savings.

From what other Malaysians using the app have said, it looks like MAE represents a major breakthrough in terms of what a banking app can accomplish beyond basic transactions.

Some users even said it was a suitable first step towards a digital banking experience, and I can’t help but agree after my own experience.

  • You can read more about the MAE app here.
  • You can read more about the launch of the MAE app we talked about here.

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Jothi Venkat

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