Need to transfer money to someone overseas? Maybank is currently having a promotion where you can transfer money to any VISA credit, debit or prepaid cards in more than 200 countries with zero transaction fee. Parents can use this to send money to their children studying abroad and you can it when you’re getting a friend to buy something from overseas.
From 28 May until 31 August 2018, individual and biz customers can enjoy zero service fee for Visa Direct transactions on Maybank2U. To transfer, just go to the new Maybank2U page, select Pay & Transfer and tap on the Transfer Tab. You’ll need to select your savings or current account and select transfer to “Overseas”. Once that’s done, you can select the country, the amount you wish to send and enter the card number.
Depending on the other person’s VISA card number, the transfer could be done within 30 minutes if it supports Fast Fund transfer. Otherwise, it will take up to 2 working days. You’ll know whether Fast Fund is supported when you key in the VISA card number. There’s a minimum transfer amount of RM300 and the maximum you can transfer is RM7,500 per day. It’s available 24 hours and 7 days a week except for Maybank2u maintenance hours.
It’s worth mentioning that VISA Direct isn’t new in Malaysia. Public Bank had introduced its Visa Direct feature back in 2016. The normal Visa Direct transaction fee for both Public Bank and Maybank is RM10 per transaction, while the other party will not be charged for receiving the money in their VISA card.
According to Maybank, VISA Direct isn’t supported for cards issued from Colombia, Cuba, Iran, Israel, Sudan, Syria, United States and Venezuela.
You can learn more at Maybank2U’s VISA Direct Transfer promo page.