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11 March 2021

[Maybank2u] Compulsory to use Secure2u starting 15 March 2021?

This is a new thing for Maybank2u users, but many of us just ignored this function by sticking to the old method of receiving SMS tac number. True? Very soon, the SMS method will be phased out by Maybank mainly for better security reason. Hey, it's time to change to Secure2u method!

According to an important announcement made by Maybank, users will be required to utilise Secure2u to authorise Bill Payments and Interbank Giro (IBG) transfers of any amount on Maybank2u effective 15 March 2021.

What is Secure2u?

Secure2u is a safer and convenient way to authorise transactions using Secure Verification (one-tap approval) and Secure TAC (6-digit TAC number generated on the mobile app).

This feature is an alternative to SMS TAC and available via the Maybank2u app. With Secure2u, you don’t have to wait for SMS TAC anymore!

Please be informed that Secure2u will be used as the preferred authorisation method on Maybank2u, based on the transaction value and effective dates below:

If you have registered for this service, Secure2u will be the default method to approve ALL transactions rather than TAC. 

Wait... What is the difference between Interbank GIRO (IBG) and Instant Transfer?
  • Okay. Now, we're talking about interbank transfer. It means transferring money between different banks account.

  • Interbank GIRO (IBG) is an electronic fund transfer payment system which allows transfer of money in between participating financial institutions within Malaysia. IBG is a delayed Funds Transfer without validation on the beneficiary account number and name. That's why you may not receive the money immediately if someone use IBG to transfer money to your bank account. It depends on what time the other person perform the IBG transaction.

  • 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. The funds transferred are available immediately (real-time) in the beneficiary's account upon confirmation and successful transfer.

In other words, this new rules is only apply to Bill Payment and IBG, it won't affect those transactions using "Instant Transfer" method. Hope this post can clear your doubt. Thanks for reading. ☺

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