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What is an ePocket? |
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ePocket is a transitory account that facilitates the purchase and/or payment of products and/or services provided by Maybank in Singapore for both new and existing customers who do not have any existing savings or current account(s) with Maybank, via Maybank2u.com.sg (Online Banking).
To use this service, there must be standing arrangement for Maybank’s ePocket to be credited with funds from your account(s) with other Financial Institutions in Singapore via Interbank GIRO (Inward Funds Transfer) as and when you make your request. |
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| 2. |
What are features and benefits of ePocket? |
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The features and benefits of maintaining an ePocket are as follows:
- No initial deposit
- No monthly service fee i.e. no need to maintain a minimum balance
- No early account closure penalty
- No interest on account balances
- No Chequebooks
- No related services such as ATM Card or Dial-Link (PhoneBanking)
- No Passbook or Statements of Account to maintain
(Past transaction history is available via Maybank2u.com.sg (Online Banking) for up to the last 60 days)
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| 3. |
What are the criteria for me to sign up for an ePocket? |
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You will be eligible if you are:
- At least 15 years of age
- A Singapore Citizen or Singapore Permanent Resident
Foreigners who wish to apply can visit any of our Maybank Branches in Singapore to do so. |
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| 4. |
What will happen to my ePocket if I keep a credit balance but remains inactive or my ePocket balance is S$0 for an extended period of time? |
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- If your ePocket is inactive for more than 365 days, the balance in the account (if any) will be refunded to your designated Financial Institution via Interbank GIRO.Thereafter, your ePocket will be automatically closed and a SMS notification will be sent to your registered mobile phone number.
- Your ePocket will also be automatically closed, with SMS notification, if it registers a nil balance for more than 365 days.
- In the event that there is more than one account designated for Interbank GIRO (Inward Funds Transfer), the balance in the account will be refunded to the account that was first registered for the Inward Funds Transfer facility.
- If the designated account(s) are no longer valid, the balance in your account (if any) will be refunded to you via our Bankers’ cheque.
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| 5. |
How does the ePocket work? |
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Simply log into Maybank2u.com.sg (Online Banking) and request for funds to be debited from your designated Financial Institution via Interbank GIRO (Inward Funds Transfer) and credited into your ePocket Account. Please allow three to four business days for the funds to be remitted and credited to your ePocket.
Once the funds have been credited to your ePocket, you can log into Maybank2u.com.sg and proceed with the necessary payment transactions e.g. make Cross Border Bill Payment, transfer funds to another account with Maybank in Malaysia, remit funds , purchase a iCheque etc. |
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| 6. |
Are there any charges for using ePocket? |
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There is currently no fees or charges for maintaining the ePocket.
However, fees and charges applicable to the other products and services provided by Maybank, including performing of transactions at the Branch counters shall apply. |
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