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FAQ

ADDvantage Time Deposit
Premier 1 Checking Account
Maybankard ATM
Money2U ATM Account
ATM Card eligibility
ATM Services
Inter-Country ATM Facility


ADDvantage Time Deposit

Q1. How much is the opening deposit for ADDvantage?
A:

The minimum initial deposit for ADDvantage 1, 2, 3 & 5 year terms is P50,000.00.

   
Q2. What are the interest rates?
A: For the latest rates, please call your Maybank branch or (02) 521-7451
   
Q3. Are there special rates available for higher deposits?
A:

Interest rates quoted are fixed for all deposit amounts.

   
Q4. What are the main product features?
A:
a. ADDvantage Flex 1, 2 & 3 years – Flexible interest rates with guaranteed base rate, which means depositors can enjoy higher earnings when rates are raised.  However, if the rates are lowered, they can still enjoy the guaranteed base rate, i.e. the rate upon account opening.
b. ADDvantage 5 year TD – Tax-free interest rates as withholding tax on interest earnings and DST are waived.
   
Q5. Do I need to pay for the Documentary Stamp Tax (DST) charges for the evidence of deposit/certificate of time deposit (CTD)?
A:

Documentary Stamp Tax charges for ADDvantage 1, 2, 3 & 5 year terms are waived for as long as deposit term is completed; otherwise, clients pay for the DST in full which is in the amount of P1.00 for every P200.00 per year or fraction thereof.

   
Q6. What are the other features of ADDvantage Flex 1, 2 & 3 years?
A:
The other features of ADDvantage Flex 1, 2 & 3 years are:
a. Interest is credited monthly to Savings (or existing Current Account).
 
Savings Account to be opened is subject to P100.00 opening deposit, but no maintaining balance requirement.  Clients have the option to credit the interest to their existing Current Account. However, the account shall be subject to the required maintaining ADB.
b. Interest is subject to withholding tax as mandated by BIR:
 
Term Withholding Tax
Flex 1 year 20.0%
Flex 2 years 20.0%
Flex 3 years 12.0%
   
  What are the other features of ADDvantage 5 years Fixed and Plus?
 
The other features of ADDvantage 5 years Fixed and Plus are:
c. Fixed – interest may be withdrawn upon maturity, and the basis of yearly credited interest shall be the original principal amount upon account opening.
d. Plus - interest is credited monthly to Savings (or existing Current Account).
 
Savings Account to be opened is subject to P100.00 opening deposit, but no maintaining balance requirement.  Clients have the option to credit the interest to their existing Current Account. However, the account shall be subject to the required maintaining ADB.
e. Taxes are waived as long as deposit term is completed, otherwise, clients pay for the DST and withholding tax charge:
 
Elapsed Term Withholding tax on interest
Less than 1 year 20.0%
Less than 2 years 20.0%
Less than 3 years 20.0%
Less than 4 years 12.0%
Less than 5 years 5.0%
   
Q7. When shall interest be credited and what is the basis of computation?
A:
a. Interest shall be credited every nth day of the month based on the same nth day of the month when the account was opened (or yearly, in case of 5 year fixed), i.e. if the account was opened June 25th, the interest shall be credited on July 25th and every 25th of the month thereafter.
b. The interest shall be computed as I = Principal x Rate x Time
c. “Time” is expressed in actual number of days elapsed during the month, divided by 365 days per year.  As such, a different net amount shall be credited for months with 28, 29, 30 and 31 days.
   
Q8. Does the Savings Account, wherein the interest is credited, earn interest?
A:

Savings Account shall earn an interest of 1.0% pa if the account balance is P10,000.00 and above.

   
Q9. Can I add to the principal?
A:

Adding to the principal is not allowed, however, the client may open a new placement.

   
Q10. What happens if I pre-terminate?
A:
For ADDvantage 5 years (Fixed & Plus) – the interest credited to the account shall be re-computed based on the elapsed term from account opening:
 
Elapsed Term % Interest to be credited
Less than 1 year 25% of quoted rate
Less than 2 years 40% of quoted rate
Less than 3 years 55% of quoted rate
Less than 4 years 70% of quoted rate
Less than 5 years 80% of quoted rate
   
For ADDvantage Flex 1, 2 & 3 years – the interest credited to the account shall be re-computed based on the elapsed term from account opening:
 
Elapsed Term % Interest to be credited
Less than ½ of term Savings rate
More than ½ of term 50% of rate quoted
More than ¾ of term 75% of rate quoted
   
Note that the net proceeds upon pre-termination may be less than the principal amount due to interest paid in advance (credited to account).


Premier 1 Checking Account

Q1. How much is the required opening deposit for Premier 1?
A:

The minimum initial deposit, maintaining balance and balance to earn interest for Premier 1 Checking Account is P20,000.00.  The balance to earn additional interest is P50,000.00 depending on the number of withdrawals during the month.

   
Q2: What are the product features?
A: • Tiered interest
• Add–on interest
• Personal accident insurance
• Record book
• Itemized posting of inward clearing checks
• Inter-country ATM card
• Monthly Statement of Account
• Exclusive checkbook wallet
   
Q3: What are the interest rates tiers?
A:

For the latest rates, please call your Maybank branch or (02) 521-7451

   
Q4: When shall interest be credited and what is the basis of computation?
A:

The interest shall be credited on a quarterly basis.  It shall be computed based on the daily ending balance of account and the total amount for credit is the aggregate of daily computed interest for the quarter.

   
Q5: Do I have to pay any tax on the interest?
A:

All interest earned shall be subject to 20.0% withholding tax.

   
Q6: How does one avail of the add-on interest?
A:

For a minimum of P50,000.00 deposit, the account earns an additional 2.0% if no withdrawal was made during the month, or an additional 1.0% if only one (1) withdrawal was made during the month.  Add-on shall be added on the regular daily interest and credited quarterly in aggregate.

   
Q7: What is the maximum interest?
A: Please click here to view Premier 1 Checking Account interest rates.
   
Q8: Which transactions are considered as withdrawals?
A:

Check issuance, ATM cash withdrawal, ATM Bills Payment, Fund Transfers and other client-initiated debits shall be considered as a withdrawal.

   
Q9: How to avail the coverage of the Free Personal Accident Insurance?
A:

Individual accounts and their co-accountholders are automatically covered worldwide, 24/7 for loss or disability due to accident.  Sum coverage shall be divided equally among the co-accountholders and is equivalent to five times the average daily balance (5 x ADB) subject to a maximum of P500,000 per account.

   
Q10: Are commercial accounts eligible for the insurance coverage?
A:

Only individual accounts are eligible for the insurance.

   
Q11: Can withdrawals from the account be done using the record book?
A: As Premier 1 is a checking account, withdrawals can be made by issuing checks or via the ATM.  The record book is for monitoring purposes only.
   
Q12: Will the record book reflect all inward items?
A: The record book shall reflect up to a maximum of 100 transactions per day.  Otherwise, the day’s net balance shall be posted in the record book.
   
Q13: Where will the Statement of Account be delivered?
A: Statement of Account shall be available for client’s pick up at branch of account. However, Statement of Accounts may be sent to the client’s specified business or residential address if unclaimed for a period of more than 3 months.
   
Q14: Can withdrawals be done abroad using the inter-country ATM card?  If so, in what currency and exchange rate?
A: Withdrawals may be made at any Maybank ATM in the Philippines, Malaysia, Singapore and Brunei in the local currency where situated (i.e., Philippine Peso (PHP), Malaysian Ringgit (RM), Singapore Dollar (SGD) and Brunei Dollar (BND)).  The foreign exchange rate for the day shall apply.


Maybankard ATM

Q1. When transacting through Maybank ATM’s abroad, what currency shall withdrawals be made and what is the exchange rate?
A:

Withdrawals may be made in the local currency where situated (i.e., Philippine Peso (PHP), Malaysian Ringgit (RM), Singapore Dollar (SGD) & Brunei Dollar (BND)).  The foreign exchange rate for the day shall be applicable.

   
Q2: Is there a service fee for transacting at Maybank ATM’s abroad?
A: There is a charge of a minimal fee of P20.00 per withdrawal, while balance inquiry and pin change transactions are free of charge
   
Q3: Is there a transaction limit for withdrawals?
A:

A maximum of P10,000 per transaction or up to P30,000 per day – converted to the equivalent currency (i.e. RM, SGD or BND) shall be applicable to card holders of Maybank Philippines.

   
Q4: Is there a service fee for PayLink & Debit Bills Payment transactions?
A:

PayLink and Debit Bills Payment transactions are free of charge.

   
Q5: How much is the service charge for Mobile Banking transactions?
A:

Following fees shall be charged for Smart Postpaid Account/ Prepaid Load
• Activation – P3.00
• Fund Transfer – P3.00
• Balance Inquiry – P3.00
• Reload Buddy – P1.00
• Reload Money – P2.50
• Call Us – P1.50 plus airtime charge for voice call

   
Q6: How much is the service charge for Inter Bank Fund Transfer transactions and is there a transfer limit?
A:

Currently, IBFT service costs P25.00 per transaction.  The maximum aggregate amount of P30,000 per day shall be applicable for IBFT and cash withdrawal transactions.

   
Please note: The above stated amounts and fees are subject to change without prior notice.
   


Money2U ATM Account

Q1. What is Money2U ATM Account?
A:

The Money2U ATM account is a savings account ideally for Overseas Filipino Workers (OFW) and/or their beneficiaries and other Filipinos living and working abroad.

   
Q2: How can I open a Money2U ATM Account?
A:
To open an account, the OFW must present any of the following documents:
a) Certificate of attendance at the Pre-departure Orientation Seminar (PDOS)
b)

Photocopy of the applicant’s passport which shows foreign assignment

c) Employment Contract or Work Permit
In addition, the OFW must present at least two valid IDs, i.e. Driver’s License, PRC ID, Government ID or other.
   
Q3: Is there an opening deposit balance or maintaining balance?
A:

No opening deposit balance and maintaining balance is required.

   
Q4: Can the beneficiary open an account on behalf of the OFW?
A:
Yes, the beneficiary can open the account on behalf of the OFW.  The beneficiary must present any of the following documents:
a) Employment Contract or Work Permit of the OFW
b)

Foreign Income Tax Return for residents in other countries

c) Certificate of Attendance at the Pre-Departure Orientation Seminar (PDOS) duly issued by POEA
d)

Green Card for USA residents

e) Proof of at least one foreign remittance previously sent by the OFW or Filipino resident abroad
   
Q5: Where can I send money?
A:

You can send money through our Maybank branches in Malaysia, Singapore and Brunei.  Alternatively, an OFW/Filipino resident can visit any bank or remittance center in other countries and credit money to his/her Maybank account number.

   
Q6: When will the beneficiary receive the money?
A:

The beneficiary will receive the money within 24 hours if it is sent through Maybank branches. Otherwise, money will be received within 3 days.

   
Q7: What is the fee charged for remittance?
A:

For every successful remittance, the sender (OFW) will be charged a fee of P150.00.

   
Q8: Can I use my Money2U ATM card to make withdrawals from non-Maybank ATMs?
A:

Yes, you can use your ATM card anytime, anywhere in the Philippines through any of the 1,600+ MegaLink, 2,000+ BancNet and 1,900+ ExpressNet ATMs nationwide.

The intercountry feature of the Money2U ATM card also enables you to make withdrawals in Malaysia, Singapore and Brunei (in the respective local currencies).

   
Q9: How much can I withdraw using my Money2U ATM card?
A:

When using Maybank ATMs, the withdrawal limit is as much as P10,000 per transaction and P30,000 per day. If you use other ATM networks, their transaction limits and corresponding charges will apply.

   
Q10: Will my money in the Money2U ATM Account earn interest?
A:

No, your money in the Money2U ATM will not earn interest.

   
Q11: What happens if I do not use my Money2U ATM card?
A:

If no remittances are received or your account has been inactive for 9 consecutive months, it will be automatically converted to a Regular Savings Account. This will be subject to a maintaining balance, service charges and other conditions.

   
Q12: If I do not have a Money2U ATM account, can I make a remittance to my other Maybank accounts?
A:

Yes, you may send money to any other Maybank account using telegraphic transfer. A fee of US$5.00 will be charged for every successful transfer.

   


ATM Card Eligibility

Q: When can a client pick up his new ATM Card?
A: MPI follow two cut-offs
 
  • Wednesday 5 pm cut-offs
         Friday for Metro Manila (3rd day)
         Monday to provinces (4th day)
  • Friday 5pm cut-off
         Tuesday for Metro Manila (3rd day)
         Wednesday for provinces (4th day)
  •    

    Q:

    Can I direct someone else to collect my ATM card and PIN Mailer on my behalf?
    A: Yes, provided that,
     
  • Client representative bring an authorization letter and      both their Ids.
  • The card will not be activated at this point
  • For activation, client must send the branch a letter stating      that he has received his card and mailer and is requesting      for activation

  • ATM Services

    Q: What is the maximum cash withdrawal for every transaction?
    A:
  • Maximum cash withdrawal per transaction is P4,000 while      minimum cash withdrawal per transaction is P100.
  • Maximum Cash withdrawal per day is P20,000.
  • There are no limit for Intrabank Fund Transfer while the      maximum third party fund transfer per day is P20,000
  • Ten withdrawals are allowed per day.
  •    

    Q.

    How many accounts can be linked to one card?
    A:

    The maximum number of accounts linked to 1 card is 8.

    Primary and Secondary Accounts

    • The top two out of eight accounts
    • There can only be one primary for each SA or CA
    • The only accounts that Megalink and Inter-Country ATM Link see are the Primaries only

      For example:

      • Savings (Primary) + current (Primary)
      • Savings (Primary) + savings (Secondary)
      • Current (Primary) + current (Secondary)
      • MPA savings (Primary) + current (Primary)
      • MPA savings (Primary) + savings (Secondary)


    Inter-Country ATM Facility

    Q. What is the Maybank Inter-Country ATM Link ?
    A:

    The Maybank Inter-Country link is the interconnection of Maybank Automated Teller Machines (ATMs) of Philippines, Malaysia, Singapore and Brunei under a proprietary system that enables Maybank depositors in any of these countries to access their accounts through their Maybank Inter-Country ATM Cards and transact online even if they are in the other three countries.

       

    Q.

    Is Maybank Philippines the first to offer such Inter-Country ATM link ?

    A:

    Yes. The Inter-Country link of Maybank is a system developed and maintained by us unlike other banking institutions which only links up to International network like VISA and Mastercard.

       

    Q.

    What is the language used at the other Maybank ATMs abroad ?

    A:

    English is the primary language used in the ATMs of Maybank Group.

       

    Q.

    What transactions can I avail of through my Maybank Inter-Country ATM Card ?

    A:

    Initially, you can do the following:

    1. Check account balance

    2. Withdraw in the currency of the country you are in

    3. Transfer funds between linked accounts

    Soon, you would also be able to remit funds (especially for Overseas Filipino Workers) and make third party transfers from other Maybank account to Maybank Philippine account and vice versa.

       

    Q.

    How will I know about additional services in the near future ?

    A:

    We will let you know through notices posted at our ATM booth, leaflets and press releases.

       

    Q.

    What benefits will I enjoy by having Maybank ATM card?

    A:

    When travelling in Malaysia, Singapore and Brunei, you do not have to carry a large amount of cash or convert it to local currency.

    If you would like to send remittance to your relatives in the Philippines, you can do so - safely and conveniently through Inter-Country third party fund transfer and through online Cash Deposit Machines. Both of which will be available by June 2001.

       

    Q.

    Will my friends based in these countries get to enjoy the same services ?

    A:

    Yes. Maybank ATM cardholders in Malaysia, Singapore and Brunei will be able to use the ATMs of Maybank Philippines whenever they are here. They can also do the following with their Maybank Inter-Country ATM Card:

    1. Inquire about the bank balance

    2. Pay credit card accounts

    3. Pay housing and term loans

    4. Transfer funds to linked accounts      maintained in the same country

       
    Q. Do I have to apply for this special feature ?
    A:

    All Maybank ATM cardholders are automatically entitled to enjoy these Inter-Country services. As for those who have yet to open Maybank ATM accounts, the Maybank ATM Inter-Country Card automatically comes with it -- no separate application necessary.

       
    Q. Where can I use my Maybank Inter-Country ATM Card ?

    A:

    You can use your Maybank Inter-Country ATM card at the 10 Maybank ATMs located in key Metro Manila areas, Cebu and Bacolod. You can also transact at any Megalink ATM and very soon at Bancnet and Expressnet ATMs. In Malaysia, you can use it at any of the 814 Maybank ATMs, as well as the 22 in Singapore and 3 in Brunei.

       

    Q.

    Where are the Maybank ATMs located ?
    A:

    At present, Maybank ATMs are located within these branches:

    • Legaspi Towers, Manila
    • A. Mabini, Manila
    • Binondo, Manila
    • Tondo, Manila
    • Camp Aguinaldo, Quezon City
    • Gil Puyat Ave., Makati City
    • Ortigas, Pasig City
    • Sangandaan, Caloocan City
    • Gen. Luna St., Malabon
    • Villamor Air Base, Parañaque
    • La Huerta, Parañaque
    • Meycauayan, Bulacan
    • Baliuag, Bulacan
    • San Fernando, Pampanga
    • Biñan, Laguna
    • Sta. Rosa, Laguna
    • Laoag, Ilocos Norte
    • Candelaria, Quezon
    • Luzuriaga St., Bacolod
    • J. M. Basa st., Iloilo City
    • Roxas Ave., Roxas City
    • Poblacion, Bago City
    • Jones Ave., Cebu City
    • Magallanes St., Davao City

    You can also access Maybank's local ATM services through over 3,000 Megalink and Bancnet ATMs nationwide.

       

    Q.

    Will I be charged for Inter-Country transactions ?

    A:

    Only for successful cash withdrawals will you be charged a fee, which is P20.00 per successful cash withdrawal by an MPI cardholder. You will not be charged for successful Balance Inquiries, Fund Transfers and Payments.

    For other countries' cardholders, the following are the fees per successful cash withdrawals as of February 2001.

    Malaysia RM 2.00

    Singapore S$ 2.00

    Brunei B$ 2.00

       
    Q. How much money can I withdraw per day ?

    A:

    As an MPI Inter-Country ATM cardholder, you can withdraw a maximum of Php 20,000.00 per day.

    For Malaysian, Singaporean and Bruneian cardholders, they can withdraw to a maximum of Php 12,000.00 per day or Php 4,000.00 per transaction to a maximum of three (3) withdrawal transactions per day.

       

    Q.

    How many cash withdrawals am I allowed to do per day?

    A:

    All Maybank cardholders are only allowed 3 successful cash withdrawals per day or a maximum of Php 20,000.00.
       

    Q.

    How will I know the foreign exchange conversion rate at the time that I transact?

    A:

    The foreign exchange rate applied to your withdrawal shall appear on the consumer receipt issued after your withdrawal.

       

    Q.

    Can Maybank cardholders of Malaysia, Singapore and Brunei also use Megalink member banks' ATMs?

    A:

    Very soon.
       

    Q.

    For any questions on this facility or for complaints regarding my transaction, where can I make an inquiry?

    A:

    During business hours, you may approach any branch personnel for inquiries regarding this facility. For off-business hours, you may inquire from the following hotlines: 637-6817 to 19 (Data Center)

       

    Q.

    What do I do in case of Debit without Dispense/Short Dispense?

    A:

    When using onsite ATMs, immediately report to the branch that owns the ATM and give the details of the transaction. For off-site ATMs, use the hotlines below or report to the nearest Maybank branch. An investigation shall be conducted by the branch personnel on whether or not there was such an instance.

       

    Q.

    What do I do on case of a lost card?

    A:

    During business hours, immediately report this to the branch personnel of the nearest Maybank branch. For off-business hours, you may report via the following hotlines: 637-6817 to 19 (Data Center)

       

    Q.

    What do I do in case I forgot my PIN or if my card has been damaged?
    A:

    You can request for a replacement card at your home country.

       

    Q.

    What do I do in case of retained card?

    A:

    During business hours, at onsite ATMs, immediately report to the branch that owns the ATM and give the details of the transaction. For off-site ATMs, use the hotlines below or report to the nearest Maybank branch, immediately report this to the branch personnel of the nearest Maybank branch. For off-business hours, you may report via the following hotlines: 637-6817 to 19 (Data Center)

       

    Q.

    What other services will be available in the near future?

    A:

    By May 2001: Third Party Fund Transfer (within country)

    PIN Change

    By July 2001: Third Party Fund Transfer (inter-country)

    Cash Deposit thru CDMs

    Passbook Update

    EFT/POS

    By 4th Quarter 2001: OTC Inter-country transactions



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