Everything you need to know about MAE, Maybank’s new e-wallet

Maybank has just embarked on its e-wallet journey, with a product it called MAE – Maybank Anytime

Maybank has just embarked on its e-wallet journey, with a product it called MAE – Maybank Anytime Everyone. The beauty about MAE is that it’s more than just an e-wallet, and it’s open to everyone even if you’re not a Maybank customer.

MAE runs off the Maybank MY mobile app, so there’s no separate app to download and install if you’re already an existing Maybank customer.

And for non-Maybank customers who come onboard MAE, you’ll get a virtual debit card that you can use to shop online. The card will come with a virtual card number, expiry date and CVV. A nifty extra is that it works with MaybankPay and Samsung Pay.

The sign-up process is straightforward and you’ll need to provide typical personal details such as your full name, phone number, NRIC/passport, email address and a selfie photo as part of its KYC (know your customer) process.

Once you’ve completed the registration process you’ll be greeted with the main MAE dashboard. It’s an odd if unique user interface; your wallet balance is displayed in the centre with two key features = Money Out and Money In. Note that you’ll need to top up at least MYR10 into the wallet to activate it.

If you’re a Maybank account holder, you can top up using your Maybank account, or for non-Maybank customers, you can do it via Maybank Cash Deposit Machines, intrabank transfer (M2U or ATM), interbank transfer from other banks or over-the-counter at Maybank branches.

MAE has a maximum wallet size of MYR4,999.99 and there’s also a transaction limit of MYR2,999.99 per transaction.

Drag the bubble that houses your e-wallet balance towards Money In and you’ll be presented with several options: Top Up Wallet, Request Money, Split Bill and My QR (which displays your QR code to others).

Money Out gives you’re the ability to make payment with a QR code, pay bills, send money, reload mobile plans, buy movie tickets and plane tickets.

The Split Bill feature is rather interesting. You can set reminders for friends to pay you. And friends will receive notifications to pay.

Why another e-wallet you ask? Maybank is the first bank to offer an e-wallet; if you noticed the rest of the competition are non-bank-based solutions i.e. Boost, GrabPay, vcash, Touch ‘n’ Go, etc.

Being a Maybank product, MAE users will have the rich 200,000-strong vendors/retailers to spend with using QRPay. Maybank targets an additional 100,000 by end of the year.

Beyond that, MAE is really a new kind of banking account that’s 100 percent digital. There’s no need go visit a Maybank branch to setup and there are no monthly service charges or transaction fees.

As part of the product’s launch promo, the app comes with a game called Money MAE-hem where you can earn money by tapping (collecting) coins in the game. Money you win is credited into your e-wallet. To earn more chances to play, you can share your unique invite code to friends.

There’s also another way to earn even more cash. When you spot a MAE QR code at a retailer or store, scan it for a chance to win your share of the MYR1.2 million prize pool.

Ready to get onboard?

Download the Maybank app for Android and iOS.

Use my invite code vcw0302

For more information about MAE, visit Maybank.

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Vernon is the founder and chief editor of A graphic designer by profession, he has a deep love for technology, cars, gadgets, food, and travel. He tweets too much and is also known as a caffeine bacterium ("life's too short for bad coffee"). Bleeds Blue (go Chelsea FC!) and considers BMW, Porsche, Alfa Romeo cars to have in the garage--for true petrolheads, that is.