Interesting feature if you want to send money to someone that doesn't have a Maybank account. Questions that come to mind:-
- How long will the transaction code be valid if the recipient don't claim it?
- Can this be spoofed?
- If I have a MBB account, will the money be sent to my account or do I have to withdraw from ATM?
Here's the current catch
Note: The RM1 service charge will be waived until 28 February 2014.
*Update: Found the terms & conditions which answers some of the questions above and reveal more about the transaction processes.
Maybank Cardless Withdrawal Transaction Guide
Win cash with Cardless Withdrawal
Getting hooked on online banking services? We have something better to offer you. Now with Cardless Withdrawal, you can send cash to anyone via Maybank2u or Maybank2u mobile app. What's so special about this service? Your recipients can withdraw cash without any ATM card at any Maybank ATM. That means, it is also applicable tonon-Maybank customers! How cool is that?
For a celebration, Cardless Withdrawal is having a contest starts from 7 January until 5 February 2014. You can be one (1) of the three (3) winners everyday to win RM500 when you send cash the cardless way! Let's try it now!
How do you send cash to your recipients?
- Login to Maybank2u
- Click 'Transfer', then 'Cardless Withdrawal'
- Enter Recipient's mobile number, name and amount (minimum RM100)
- Enter TAC and click 'Confirm'
- You'll receive a Withdrawal Code via SMS. Forward it to your Recipient
How should the recipients withdraw cash?
- Proceed to any Maybank ATM, press 'Enter' key and select your preferred language
- Select 'Cardless Withdrawal'
- Enter Transaction ID
- Enter Withdrawal Code forwarded to you
- Retrieve your cash.