Maybank Cardless Withdrawal is a service provided by Maybank to provide a simple and easy person-to-person fund transfer payments. This service allows Maybank2u users to initiate fund transfers to any Malaysian mobile number, where recipients can withdraw cash at any Maybank ATM without requiring an ATM card, even if they’re not Maybank customers.
Maybank also offers ATM Cash-out, a contactless withdrawal service through the MAE app that lets customers withdraw money by simply scanning a QR code on Maybank ATMs. This service eliminates the need for physical ATM cards while maintaining the security and convenience of traditional ATM transactions.
Maybank Contactless Withdrawal
How Does The Traditional Maybank Cardless Withdrawal Process Work?
The process of traditional Maybank cardless withdrawal begins when a sender logs into Maybank2u and selects Cardless Withdrawal under Transfers. After selecting Open Cardless Withdrawal, the sender inputs the required details including their debiting account, recipient’s mobile number and name, amount to be transferred, and accepts the Terms & Conditions. The transaction is confirmed using TAC verification, after which the recipient receives an SMS notification with a transaction ID while the sender receives the withdrawal code to share with the recipient.
For withdrawal, the recipient must initiate the ATM transaction within 48 hours by selecting Cardless Withdrawal from the Main Menu. They need to enter the 16 to 17 digit transaction ID (which combines the 6-digit transaction ID and their 10-11 digit mobile number) followed by the 6-digit withdrawal code provided by the sender. Upon successful validation, the cash is dispensed along with a transaction slip. In case of any transaction failures or disputes, complaints must be initiated by the sender for bank investigation.
What Is The Maybank ATM Cash-Out Process?
To begin using Maybank ATM Cash-out, customers must first activate the feature through the MAE app by tapping ATM Cash-out under Quick Actions, entering their M2U password, agreeing to Terms & Conditions, and approving setup via Secure2u. After the mandatory 24-hour cooling-off period for security checks, users receive SMS and push notifications confirming successful activation.
The withdrawal process involves launching the MAE app and selecting ATM Cash-out, logging in with a 6-digit PIN or Face ID, selecting or entering the withdrawal amount, scanning the ATM’s QR code, choosing the withdrawal account, and authorizing via Secure2u. Once the withdrawal is processed, users can collect their cash from the ATM.
What Are The Maybank Cardless Withdrawal Transaction Limits, Fees, And Time Restrictions?
For traditional Maybank Cardless Withdrawal, Maybank sets a daily limit of RM300 with a service fee of RM1.00 per transaction. Recipients have a 48-hour window to withdraw the funds from any Maybank ATM in Malaysia after the transfer is initiated.
For Maybank ATM Cash-out users, all withdrawals count toward their existing daily ATM limit, with no need to track separate limits for card and cardless transactions. Notably, no additional charges are incurred when using the ATM Cash-out feature, making it a cost-effective option for cardless withdrawals.
What Security Features And Safety Tips Are Implemented?
Maybank provides comprehensive safety guidelines for ATM Cash-out users, emphasizing the importance of privacy during transactions. Key recommendations include ensuring no one can view your phone screen during PIN entry, maintaining physical presence throughout the entire transaction, exclusively scanning QR codes displayed on ATM screens, and immediately reporting any unauthorized activation OTPs or transaction notifications to the Maybank Group Customer Centre.
Security measures include requiring smartphone protection through PINs, patterns, or biometrics, and never sharing phone security details. Users are warned to stop transactions if asked to enter beneficiary account numbers, as this is not part of the legitimate process. For traditional Cardless Withdrawal, all transaction disputes must be reported through the sender, ensuring proper tracking and resolution of any issues.
