KUALA LUMPUR: Malayan Banking Bhd (Maybank) has made further strides in its Malaysia-Singapore cross-border digital banking services by offering a more convenient, seamless and secure option for overseas funds transfers.
Maybank also introduced the regional view feature on its digital banking platforms for customers.
The service is an instant online cross-border funds transfer service for Maybank Singapore's retail and small and medium enterprise (SME) customers.
The bank claimed that it offers competitive exchange rates to over 50 DuitNow participating banks and non-financial institutions (NFIs) such as Touch 'n Go eWallet in Malaysia, on the Maybank2u SG (Lite) app and Maybank2u online banking.
For Maybank Malaysia's retail customers, the funds transfer service offers the benefits of real-time and instant overseas transfers to any banks in Singapore via the MAE app and Maybank2u website.
Country chief executive officer (CEO) and Maybank Singapore CEO Dr John Lee said it has been leveraging the group's digital capabilities and extensive network to provide a diverse range of cross-border services to both Singaporeans and Malaysians.
"As part of Maybank's key home market and having been operating in Singapore for over 60 years, we understand the pain points of our customers when it comes to a hassle-free experience while transferring funds to their loved ones in Malaysia.
"We have been providing instant fund transfer services for customers who hold both a Maybank Singapore and Maybank Malaysia account at zero fees, and have now extended our services to include over 50 DuitNow participating banks and NFIs for Maybank Singapore's customers.
He added the bank also acknowledged the importance of SMEs as a significant contributor to the economic growth in the country and wanted to support them.