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What You Need To Know About The 4 New Features Of Maybank's Latest MAE App

Maybank has launched a whole new app today called MAE by Maybank2u, which was built with the intention of providing Malaysians with convenient solutions to money matters.

While it contains existing features within Maybank2u, it goes beyond facilitating regular banking matters.

Here are 4 new features that MAE by Maybank2u offers.

1. Expenses

Called Expenses, this tool offers users a single, holistic view of everything spent across Maybank accounts, cards, and QR transactions.

You can then sort these expenses into easy-to-understand categories such as Food, Utilities and Shopping to get more insights on your spending habits.

Cash transactions, which aren’t normally recorded by the app can now be included with a few taps.

2. Tabung

Tabung was designed to enable users to save consistently and regularly to achieve their financial goals.

There are two types of Tabung that can be created: Individual and Group.

The group savings feature, which Maybank states is the first of its kind by a Malaysian bank, allows users to jointly save with friends or loved ones for a goal such as an annual vacation.

3. Boosters

MAE by Maybank2u is also offering new complementary features called Boosters that transform micro-spending moments into saving ones.

There are 3 Boosters:

Spare Change, which rounds up expenses and transfers the balance into Tabung,Scan & Save, which credits savings earned from promotions used during QR transactions,Guilty Pleasure, which allows you to set a daily spending limit in any category of your choice and an amount to be credited into your Tabung if the limit is exceeded.

4. Makan Mana Wheel

Food is something that Malaysians always agonise over, if only because they’re usually spoilt for choice. Just think about how your office makes group lunch decisions.

Makan Mana Wheel aims to provide users with an easy way to decide what to eat at any time of the day.

Spin the wheel, and you’ll have dining options recommended to you, along with promotions from thousands of its partner merchants across Malaysia.

MAE Visa Debit Card

This is a card that complements the MAE wallet, and you can use it to make purchases both locally and abroad.

Maybank states that it also boasts competitive foreign exchange rates and exclusive perks.

Interested users can apply for the debit card via the MAE app, and it’ll be delivered to their doorsteps.

Once it’s safe to travel again, the amount in the MAE wallet will auto-convert to the country where the user is in, so users will know exactly how much is available for spending.

How To Get MAE by Maybank2u

It’s available for download from Google Play Store and Apple’s App Store.

For existing Maybank users: you’re only required to undergo a simple security set-up, after which they can start using the app immediately. The data from all your Maybank accounts will automatically be made available in the new app.

For non-Maybank users: you will still be able to open a MAE wallet via the app and complete the application without having to visit a branch. Once the application is successful, you’ll have access to all the banking features and money tools within.

Other Things To Know

Alright, so now if you’re thinking, why should I switch to the new MAE if I already have the old one?

According to Maybank Group President and CEO Datuk Abdul Farid Alias, the new app offers so much more than the old one does, so users are encouraged to make the switch for their own benefit.

The regular Maybank2u app will still co-exist alongside the new MAE app, but Datuk Abdul Farid Alias shared that it may not remain that way for long.

The MAE Visa Debit card won’t replace your Maybank debit card because the latter is linked directly to your savings account, while the former is linked to your digital wallet (MAE).

The card’s design isn’t currently customisable.

You can read more about what we’ve written on Maybank here, and the old MAE app here.

Also ReadRentokil Initial Malaysia Takes Digitalisation A Step Further With This Payment Solution

Featured Image Credit: Maybank

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