Maybank has introduced Money Lock, a feature allowing customers to lock funds in their savings or current accounts, safeguarding them from online scammers. The feature, first launched in Singapore in mid-2024, enables Malaysians to choose an amount to lock, from RM10 to their full balance, through the MAE app. Locked funds remain protected from online banking and ATM activity, preventing unauthorized transactions. To unlock or decrease locked funds, customers can visit a Maybank ATM or branch for verification.
Online scams, especially those related to online banking, are unfortunately but increasingly common nowadays, stirring fear among online bank users. To help tackle and reduce the number of online scams ,Prior to the launch of Money Lock in Malaysia, the same feature was first introduced by Maybank in Singapore back in mid-2024.
But if you wish to unlock your funds or decrease the amount of locked funds, you can visit any Maybank ATM or branch nationwide for a quick verification process. Maybank says this step is taken to ensure that locked funds remain secure from unauthorised access. Upon successful verification, the funds will be instantly unlocked or decreased, depending on your request.For customers’ safety, locked funds are kept protected against any online banking and ATM activity.
Enforcing a cooling-off period for transfer and payment limit increase, and Secure2u activation for the first time or on a new device Introducing Malware Shielding, a preventive security measure embedded within the MAE App with the capability to detect malware in customers’ devices
Online Scams Money Lock Maybank Banking Security Fraud Prevention
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