Maybank Singapore Online Paves the Way for Malaysian Bank Customers to Open a Singapore Dollar Savings Account | Money

The Maybank Tower, the headquarters of Maybank, is seen in Kuala Lumpur on October 29, 2021. – Image by Ahmad Zamzahuri

SINGAPORE, Jan. 27 – Customers of Maybank Malaysia will soon be able to open a Singapore dollar savings account with Maybank Singapore online, and it will enable real-time fund transfers across the border.

In a statement released today, the bank said it was one of three new digital banking initiatives launched by Maybank Singapore to support the bank’s strategic theme of being at the forefront of personal financial management and to create a robust ecosystem for small and medium-sized businesses. small businesses (SMEs).

“As Malaysia’s largest bank, it is our business priority to enhance our customer experience in Singapore-Malaysia financial transactions,” said Cynthia Liaw, Head of Virtual Banking and Payments, Maybank Singapore.

She said clients who plan to work in Singapore or send their children to the republic to study can open the Maybank SG account.

“With Maybank RegionLink remittances, customers with children studying in Singapore can instantly transfer funds from Malaysia to Singapore for living expenses.

“For those working in Singapore, they can also use this service to send funds to family and loved ones in Malaysia,” she added.

According to the statement, this new service will potentially benefit 950,000 Malaysians or Singaporeans of partial or full Malaysian descent residing in Singapore.

Also, there were around 400,000 Malaysians crossing the Johor-Singapore causeway daily to work or school before Covid-19, he added.

The other new virtual banking initiative is a digital banking service allowing the opening of a current account on the bank’s website, as a first step to help SMEs access finance seamlessly.

“We currently serve nearly 20% of all micro and SME businesses in Singapore and are focused on building a comprehensive SME ecosystem,” said Marc Leong, Head of SME Banking at Maybank Singapore.

He said the bank provides online banking solutions and helps SMEs digitize key areas of their operations through “SME Start Digital” packages.

“These synergistic digital platforms, our Singapore-Malaysia corridor network and capabilities, coupled with a dedicated team of relationship managers, aim to help businesses grow at a sustainable pace.

“For 2022, we will roll out new digital transaction and financing services that will improve our customer experience and capture new market share,” he said.

Maybank expects at least 1,800 new bank customers to open an SME current account online in the first year.

Customers can register on the web page:

The third new virtual banking initiative is a lifestyle and payment app “Maybank2u SG (Lite)” with e-ang pow gifts and other money management features. — Bernama

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