Foreign Telegraphic Transfer

Can I transfer money to anyone as long as they are overseas?

Yes. You may transfer foreign currency to your children studying abroad, as well as friends or relatives travelling or living abroad.

Will my Foreign TT be rejected after the transaction is completed?

Your TT will only be rejected by the beneficiary bank if the beneficiary details are incorrect. The RM10 bank fee and beneficiary bank/agent charges (if any) are not refundable if your Foreign TT is rejected by the beneficiary bank.

Can I cancel a Foreign TT transaction?

Sorry, you cannot cancel a transaction.

Note: However should there be a cancellation due to refund or repurchase, there may be a potential foreign exchange losses. Maybank shall not be liable for any such losses and that as the remitting party. Customer shall bear the losses.

Are there any restrictions to foreign funds transfers via Maybank2u.com?

There are 3 special requirements:

• There is a pre-determined maximum daily transaction limit.
• You are required by law to state the purpose of transfer for any sum above RM5,000.50 (five thousand ringgit and fifty sen).
• You are required to notify Bank Negara Malaysia for foreign currency transfers from resident to resident (residing overseas without PR status) except for educational purposes.

What is the daily transaction limit for foreign fund transfers via Maybank2u.com?

The minimum for Credit to Account transactions is RM250, while the maximum per day is RM30,000.

You may perform more than one transaction per day up to the maximum amount only.

Can I transfer any amount (i.e. not a round figure)?

The amount transferred can include decimal points (example: USD 50.10, Baht 675.50) except for transfers in Indonesian Rupiah and Japanese Yen. These must be in whole figures without a decimal point. Example: JPY 5001 NOT JPY 500.60.

Can I use Maybank2u.com Foreign TT service 24 hours a day?

The online foreign telegraphic transfer service is only available from Monday to Friday, 10.00am to 6.00pm, excluding public holidays and Federal Territory state holidays.

How long will it take for the recipient to receive the money?

Your Foreign TT will be sent via SWIFT straight-through processing, but the actual time taken will depend on the respective agent or recipient's bank.

Who do I contact if the recipient does not receive the money?

Please contact our Customer Care hotline at 1-300-88-6688 if you have any enquiries. Please note that there is a RM10 service fee for enquiries about the foreign currency transfer status after the fund has transmitted out from Maybank.

What is the fee for Foreign Fund Transfers?

There is a RM10 fee for transfers to all countries, including Singapore. The fee will be debited from your Maybank Savings/Current Account* and is not refundable.

*Note: You will not be able to debit your Maybank Foreign Currency Account for online Foreign TT

Is there a fee for Foreign Telegraphic Transfer status enquiry?

Yes, there is an RM10 fee for status enquiries via Maybank Group Customer Care (after funds have been transferred from Maybank).

Does the recipient have to pay bank fees?

Apart from RM10 service fee debited to the sender, the beneficiary bank/agent may charge a fee to the receiver. This is usually deducted from the total payable to the benificiary.

How much is the beneficiary Bank/Agent charges?

The amount varies from country to country.

Will I need TAC for Foreign TT transactions?

Yes, you do. If you are transferring money to the same account regularly, you should store your recipient's account details in the 'TT Maintenance' list. However, you are required to key in TAC for both 'Open Beneficiary' as well as 'Favourite' Beneficiary account transactions.

Why must I state the 'Purpose of Transfer'?

The 'Purpose of Transfer' declaration is a compulsory Bank Negara Malaysia requirement for all foreign fund transfers exceeding RM5,000.50 (five thousand ringgit and fifty sen). This field is displayed only if the value of your transfer exceeds RM5,000.50.

What details do I need to ensure my transaction is successful?

To minimise error, please include the following details of the recipient:

• Name
• Contact Number
• ID/Passport (Mandatory if you are sending cash)
• Address
• Email Address
• Recipient's Bank Name
• Recipient's Bank Account
• Bank Address and Branch Code (Selected countries only)
• Purpose of Transfer (Mandatory if you are transferring more than RM5,000.50)

Are there any other requirements for online foreign telegraphic transfers?

By regulation, you will require prior approval from Bank Negara Malaysia for foreign currency transfers from resident to resident (i.e. someone residing overseas without PR status) except for education purposes.

How can I check if my foreign currency transfer is successful?

Login to Maybank2u.com and select 'TT Enquiry' under 'Foreign TT'. If the money has already been transferred out from Maybank, you may call Maybank Group Customer Care to check on the status. A RM10 bank fee will be charged for Foreign TT transaction status enquiries after funds have been transferred from Maybank.

Can I get the refund of beneficiary bank/agent fee charged for my TT if the transfer is unsuccessful?

No. The charges are deducted by the beneficiary bank/agent for the service.