DuitNow Transfer is an instant fund transfer function that allows you to receive and send funds between your eWallet and bank account(s).
DuitNow pairs an identification of your choice – such as your mobile number/ NRIC/ Passport no/Business Registration Number (BRN) to your bank account. When your friend transfers money to your mobile number, the fund will be credited directly to your paired bank account.
What is the difference between DuitNow and Instant Transfer?
IBG is a delayed Funds Transfer without validation on the beneficiary account number and name. DuitNow to Account (previously known as Instant Transfer) allows you to review the beneficiary’s name upon submitting the account details to ensure that the account that you are transferring funds to is correct.
DuitNow is a new service that enables you to transfer funds to your recipient’s DuitNow ID instead of their account number. You can register and transfer using DuitNow via Maybank2u.
Following IDs can be used for DuitNow registration:
- Mobile Number
- NRIC
- Army or Police Number
- Passport Number
- Business Registration Number
Effective 21 August 2021, ‘DuitNow – Instant Transfer’ will be renamed to ‘DuitNow Transfer’ on Maybank2u, Maybank2u Classic, Maybank2u Biz websites, Maybank2u MY App and MAE app.
With the re-branding of this service, customers can send money to anyone conveniently via ‘DuitNow Transfer’ (bank account number) or DuitNow ID (mobile number or NRIC/passport number).
Benefits
1. No more hassle remembering account numbers
2. Make multiple, future and recurring fund transfers using your own registered ID
3. Safe & Reliable – Secure mode of fund transfer as it eliminates the use of cash
4. Verification of recipient account – The name of account holder will be displayed upon entering the recipient’s DuitNow ID number
Registration
You no longer need an account number to send or receive money! Just pair your TAC mobile number or NRIC/Passport Number in Maybank2u to start sending and receiving money using DuitNow.
More info about DuitNow
