| 1. |
What is RegionLink - Instant Funds Transfer
service? |
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This is a service for you to transfer funds instantaneously
from Singapore to accounts maintained with Maybank in
Malaysia, Phillippines and Brunei. |
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| 2. |
Who can I send money to? |
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You can send money to any recipient who maintains a
personal Maybank Current or Savings account
in Malaysia and Brunei. You can also send money to any recipient who maintains a corporate Maybank Current or Savings account in Phillippines. |
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| 3. |
How soon will the funds reach my recipient? |
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RegionLink
Instant Funds Transfer allows the funds to be credited
instantly into your recipient's Maybank account in Malaysia, Phillippines and Brunei. |
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| 4. |
Can my recipient access or check the availability
of the funds after banking hours? |
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Yes, your recipient can access the funds via any Maybank
ATMs or through our Maybank Malaysia or Brunei's online banking service.
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| 5. |
Will there be situations where the funds will not
reach my recipient instantly? |
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Yes, there are certain scenarios that do not allow for
instantaneous crediting of funds. For example: |
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- Recipient's Maybank account in Malaysia, Phillippines and Brunei has been
inactive for the past 12 months
- Recipient maintains an external Maybank account
in Malaysia
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| 6. |
How do I start using
this service? |
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To make a RegionLink Instant Funds Transfer, simply
visit any of our 22 Branches
in Singapore with your NRIC or Passport.
You need the details of the recipient's
Maybank account in Malaysia, Phillippines and Brunei such as the account name
and number.
The money to be transferred can be paid via one of the
following: |
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- By cash
- By debiting from your Maybank account in Singapore
- By issuing a Maybank cheque
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| 7. |
Can I use this service
if I do not maintain a Maybank account in Singapore? |
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Yes. Simply visit any
of our 22 Maybank Branches
in Singapore with your NRIC or Passport and pay for
the funds transfer in cash. |
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| 8. |
How will I be charged for each RegionLink Instant Funds
Transfer? |
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The charges
for RegionLink Instant Funds Transfer includes a cable
charge of S$10 and a commission of 0.125%, subject to
a minimum of S$20 and a maximum of S$100. To view detailed
fees and charges, please click here. |
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| 9. |
Will I incur any agent fees? |
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No, there will be no additional
fee charged by the agent bank in Malaysia and Brunei. However, a fee of 150 pesos will be levied by Maybank Phillippines for transfers to Maybank Phillippines accounts. |
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| 10. |
Will I be able to determine the exact amount
that my recipient will receive in the converted currency? |
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Yes, you can determine
the exact currency equivalent immediately based on the
day's prevailing foreign exchange rate. |
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| 11. |
What is the exchange
rate used for the RegionLink Instant Funds Transfer?
|
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The prevailing foreign
exchange rate will be used at the point of application. |
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| 12. |
If I need to make
periodic transfers to Malaysia, Phillippines and Brunei, , can I schedule my funds
transfers in advance? |
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Yes, you can place a Standing
Order to transfer funds on a periodic basis, e.g. on
a monthly, quarterly or biannually basis.
For each Standing Order instruction, a service fee of
S$20 per transfer is applicable. This is in addition
to the prevailing fees and charges for each RegionLink
Instant Funds Transfer. |
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| 13. |
Is there a transaction limit? |
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Yes, there is a transaction limit of 150,000 pesos for remittances to Phillippines. |