MAE is Maybank’s new eWallet that’s linked with a Visa digital debit card
Essentially, MAE is an eWallet that’s based on a virtual bank account. When you sign up, you’ll get a Maybank account number and a virtual debit card. You can use MAE to pay at over 200,000 QRPay merchants. Since it is a virtual account, you can have a separate balance from your savings or current account. This offers greater peace of mind for those who are paranoid about linking their savings account directly for mobile payment.
The MAE eWallet account can be topped up easily by online banking. Since it has a valid Maybank account number, you can also receive money through traditional means including instant online bank transfers and cash deposit machines. You are also able to transfer money out from your MAE account to your current or savings account.
MAE is integrated right in the Maybank2U app, so you won’t need to download a separate app for it. It has a simple interface to send or to receive money – Swipe down to receive, or swipe up to send. MAE allows you to send money to your friends, split bills, pay via QR code, pay bills, book movie tickets and flight tickets. You can use MAE to initiate a payment request from your friends as well.
For new non-Maybank customers, you’ll be provided with a virtual Visa card number which you can use to shop online. It also works with MaybankPay and Samsung Pay, which allows you to pay using your MAE account balance at any merchant with a supported card terminal.
Unfortunately, this virtual card isn’t available for existing Maybank customers at the moment since most conventional Maybank customers will have a physical debit card . For greater versatility, Maybank is working on giving customers the option to convert their virtual card into a physical debit card in the future. Another thing to take note is that you won’t earn TreatPoints when you use MAE to pay at the moment.
MAE has a maximum wallet size of RM4999.99 and there’s a limit of RM2,999.99 per transaction. For new registrations, they will need to verify your IC number and you’ll need to submit a selfie picture of yourself during the sign up process.
Overall, this is probably the easiest way to open a Maybank account with the added convenience of a virtual Visa debit card and digital wallet. There’s no need to go to a physical Maybank branch and there’s no monthly bank charges or transaction fee for using MAE. To get started, you can download the Maybank2U app on the Apple AppStore or Google Play. You can learn more on MAE’s website.