iSAVvy Savings Account-i FAQs

View all Deposits & Banking FAQs


Security

  1. For Online Banking, how does the Bank ensure that customers' information is safe and secure?

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  1. For Online Banking, how does the Bank ensure that customers' information is safe and secure?

    To ensure data confidentiality and integrity, all information transmitted over the Internet is encrypted using the 128-bit Secure Sockets Layer (SSL) protocol from Verisign Certificate Authority. SSL is a secure way of transferring information between two computers on the Internet using encryption. Strong end-to-end encryption is also adopted within the Bank's computer networks and resources.

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How to apply

  1. How do I apply for an iSAVvy Savings Account-i?
  2. Can I open an iSAVvy Savings Account-i with a joint account holder?
  3. How do I close my iSAVvy Savings Account-i?

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  1. How do I apply for an iSAVvy Savings Account-i?

    Simply visit any of our Maybank Branch. Applicant(s) only need to bring their NRIC and place an initial deposit in cash.

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  2. Can I open an iSAVvy Savings Account-i with a joint account holder?

    Yes, you can open an iSAVvy Savings Account-i with another applicant. The joint account will be opened based on "either party to sign" basis.

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  3. How do I close my iSAVvy Savings Account-i?

    To close your account, please approach any of our Maybank Branch in Singapore.

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Deposits/Withdrawals

  1. How can I make a deposit into my iSAVvy Savings Account-i?
  2. How do I make a withdrawal using iSAVvy Savings Account-i?
  3. How do I make a balance enquiry of my iSAVvy Savings Account-i?
  4. What other transactions can I perform with my S$ iSAVvy Savings-i Account?

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  1. How can I make a deposit into my iSAVvy Savings Account-i?

    You can make your deposits using:

    1. Fast Cheque Deposit
    2. Cash Deposit Machine
    3. Inward fund transfer

    You can also make a deposit to your iSAVvy Savings Account-i over the counter. There will be a charge of S$5 per deposit.

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  2. How do I make a withdrawal using iSAVvy Savings Account-i?

    You can make a withdrawal via the following modes:

    • Maybank ATMs in Singapore with your iSAVvy ATM Card
    • ATMs via atm5 - Shared ATM Network
    • Maybank ATMs in Brunei, Cambodia, Indonesia**, Malaysia, Papua New Guinea and the Philippines

    You can also make a withdrawal from your iSAVvy Savings Account-i over the counter. A service fee of S$15 per withdrawal is chargeable for such withdrawals

    *Charges apply when making withdrawals at non-Maybank ATMs

    **Bank Internasional Indonesia (BII) ATMs

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  3. How do I make a balance enquiry of my iSAVvy Savings Account-i?

    You can make a balance enquiry of your iSAVvy Savings Account-i using the following:

    • Maybank ATMs in Singapore
    • Maybank2u.com.sg
    • PhoneBanking (Dial-Link).

    You can also make a balance enquiry of your iSAVvy Savings Account-i over the counter, at a charge of S$5 per balance enquiry.

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  4. What other transactions can I perform with my S$ iSAVvy Savings-i Account?

    Your S$ iSAVvy Savings Account-i is designed to complement your lifestyle. At the comfort of your home, you can log into Maybank2u.com.sg (Online Banking) and:

    • Pay your bills in Singapore or Malaysia
    • Place a Time Deposit
    • Make your share payment
    • Remit funds
    • Fix an appointment with our Relationship Managers.

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Funds Transfer

  1. How do I transfer funds to 3rd party accounts with Maybank and in other banks in Singapore via Online Banking?
  2. Can I use my Internet Banking to access iSAVvy Savings Account-i via PhoneBanking (Dial-Link)?
  3. Is there a limit to the amount of funds that I can transfer to 3rd party accounts with Maybank Bank or other banks in Singapore via Online Banking?
  4. Can I transfer funds to 3rd party accounts with other banks outside of Singapore via Online Banking?
  5. Can I set up a 3rd party payee account when I am overseas?
  6. Once I set up a 3rd party payee account with Maybank or other banks, can I transfer funds to these 3rd party accounts immediately?
  7. When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with Maybank via Online Banking?
  8. When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with other banks in Singapore via Online Banking?
  9. If my transfer of funds to a 3rd party account with Maybank/other banks in Singapore via Online Banking was unsuccessful, what are the likely reasons?

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  1. How do I transfer funds to 3rd party accounts with Maybank and in other banks in Singapore via Online Banking?

    For funds transfers to 3rd party accounts with Maybank and other banks in Singapore via Online Banking, you will need to register the payee name and account details using the <Update Payee Account List> function under <Funds Transfer>. 2-Factor Authentication (2FA) is needed for this transaction.

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  2. Can I use my Internet Banking to access iSAVvy Savings Account-i via PhoneBanking (Dial-Link)?

    No. A separate Dial-Link PIN has been issued to you. Please check your Dial-Link PIN mailer for your Dial-Link PIN.

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  3. Is there a limit to the amount of funds that I can transfer to 3rd party accounts with Maybank Bank or other banks in Singapore via Online Banking?

    There is a daily transfer limit of S$3,000. If you wish to increase your transaction limit up to a maximum of S$20,000, kindly mail us the completed Daily Transaction Limit Update Request Form (PDF).

    For immediate update of your Daily Transaction Limit, please log into Maybank2u.com.sg (Online Banking) to make changes online via Funds Transfer>View/Amend Limit.

    For your information, the Daily Customer Limit set by the bank cannot be changed or customized.

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  5. Can I transfer funds to 3rd party accounts with other banks outside of Singapore via Online Banking?

    Yes, you can transfer funds to 3rd party accounts with other banks outside Singapore through Online Remittance via Online Banking. Remittance charges will apply.

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  6. Can I set up a 3rd party payee account when I am overseas?

    Yes, you can set up your 3rd party payee accounts by updating your account payee list. To facilitate this, you would also need your 2FA.

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  7. Once I set up a 3rd party payee account with Maybank or other banks, can I transfer funds to these 3rd party accounts immediately?

    Yes, once the 3rd party payee account has been successfully setup, you may proceed to transfer funds within the same day.

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  8. When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with Maybank via Online Banking?

    Funds transfer to 3rd party accounts with Maybank via Online Banking will take effect immediately.

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  9. When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with other banks in Singapore via Online Banking?

    Upon confirmation of the funds transfer, the funds will be available to the payee 2 to 3 business days later, subject to the payee bank.

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  10. If my transfer of funds to a 3rd party account with Maybank/other banks in Singapore via Online Banking was unsuccessful, what are the likely reasons?

    For funds transfers to 3rd party accounts with Maybank/other banks in Singapore via Online Banking, when you set up the 3rd party account, it is essential to provide the following information correctly: Payee Bank Code, Payee Branch Code and the Payee Account Number to effect the transfer. You are advised to contact the payee bank if you are unsure of any of the aforementioned requirements. The payee bank reserves the right to return any instructions of incomplete/invalid payee branch codes and account numbers.

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Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$50,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.