How to change Maybank transfer limit: Guide for Malaysians

Maybank¹ is one of the most popular banks in the region, and offers an excellent range of ways to send payments digitally to others locally and internationally². If you’re planning on sending a payment with Maybank you’ll need to know how to set up a transfer, and how much it will cost you.

This guide outlines everything you should know, including how to change the transfer limit at Maybank to suit the amount you need to send. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What do I need to know about Maybank online transfers

Maybank offers ways to send payments locally including³:

• DuitNow
• Interbank Giro (IBG)
• Transfers to your own or a third party Maybank account

The delivery times and fees, as well as the Maybank transfer limit per day may vary depending on the type of payment you choose to make.

There are also ways to send a payment with Maybank to accounts based abroad. Here your options include⁴:

• DuitNow international payments to Singapore
• Maybank overseas transfer to Singapore Maybank accounts
• Maybank-Bakong Transfer to Cambodia
• Foreign telegraphic transfers in over 24 currencies to 100 countries
• Western Union transfers for cash collection in 200+ countries
• M2U Visa Direct payments to an eligible credit, debit or prepaid Visa card

This very large range of transfer types also comes with a large variation in the fees and delivery times you can expect. When deciding which payment type to make you’ll need to weigh up the costs, convenience and speed of different options to decide which works best for your recipient.

Maybank online transfer requirements

To make a Maybank online transfer you’ll need an eligible Maybank account and access to Maybank2U online and mobile banking. If you already have a Maybank account but have not registered for digital banking as yet you will need to take the following steps⁶:

1. Open the Maybank2U website or app
2. Click on Register Now and enter your card number and 6 digit card PIN
3. Confirm your agreement to the online terms
4. Enter your Maybank2u username, password and email
5. You’ll be sent a TAC code to youtube registered phone which you can enter for verification
6. Set up your account security following the prompts
7. Once complete, you can log into the Maybank app to transact

Maybank IBG transfer time

The Maybank IBG transfer time depends on when you submit your online request. IBG payments are processed at various times throughout the day so your money will be sent when the next batch is sent out. Here are the processing times and delivery speeds for different cut off times:

How to check Maybank IBG transfer status

If you’ve sent a payment but it’s not been received yet you may want to know how to check an IBG transfer status with Maybank. This is pretty easy to do by logging into your Maybank2U app and looking for the transaction history. You’ll see the payment has gone through if the deduction can be seen moving the money out from your account.

If you’re looking for proof of a payment you can also get your Maybank transfer receipt by taking these steps⁷:

1. Log into your Maybank2U account
2. Click on the account the payment was sent from
3. Select M2U Transaction and use the filters to find the correct time period for your transfer
4. Find the transaction and click download to get your receipt

How to change your Maybank transfer limit

There are various different Maybank transfer limits which apply depending on your transfer type. If you need to send a high value payment you may need to check your limit and change it - or reach out to the bank for advice - before you can process your transfer.

Understanding Maybank transfer limits

Here are the main Maybank transfer limits for different payment types:

• Maybank IBG limit and Duitnow limit - 50,000 MYR/day
• Maybank to Maybank payments online limit - 30,000 MYR/day
• Foreign payments from an individual account online limit - 100,000 MYR/day

Local payments sent through both IBG and DuitNow have a combined daily limit, so if you have already sent a large DuitNow payment you may not be able to send a further high value IBG.

If you need to send a payment overseas, there are also combined limits on all online international transfer types - but there’s no limit on a foreign telegraphic transfer with Maybank, sent in a branch⁸.

Step-by-step guide to increase/decrease your Maybank transfer limit

Maybank states that there is no option to increase your Maybank IBG limit. If you need to send a higher value payment you may need to split the transfer and send it over several days, or use a different payment method which has a higher limit.

If you’re sending a foreign payment with Maybank and run into an online limit you can overcome this by arranging your payment in a branch instead of digitally. There is no limit for foreign transfers made in a branch⁹.

If you would like to set a lower limit on your payments, or adjust your limits upwards within the daily limits set by the bank, you can do so using Maybank2U¹⁰:

1. Log in to the Maybank2U digital service
2. Go to Settings, then Pay & Transfer
3. Select Transfer, then Transfer Limit
4. Click the pencil icon next to the transfer type you want to amend
5. Choose your new daily limit and save changes
6. Verify the change if the new transfer limit is higher than your current limit

Manage and send multiple currencies with low fees and the mid-market rate with the Wise account

Make seamless foreign currency payments and transactions with low fees and the mid-market rate with Wise.

The Wise account is an easy way to hold and exchange 40+ currencies, including MYR, USD, GBP, and more. All you need to do is create a free account to get started.

With Wise, you can exchange currencies at the mid-market rate each time, with low, transparent conversion fees from 0.77% and absolutely no markups. Plus, you can order a linked Wise card for convenient spending without any foreign transaction fees, and up to 2 free ATM withdrawals to the value of 1,000 MYR when you're overseas. You'll even get 8+ local account details to get paid conveniently to your Wise account in MYR and a selection of other major global currencies.

Sending money or making payments abroad? Wise also offers fast, low cost transfers to 140+ countries - you can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Get the most out of every ringgit and save more when you use Wise.

🚀 Get Started with Wise

1. Maybank
2. Maybank funds transfer
3. Maybank local funds transfer
4. Maybank overseas funds transfer
5. Maybank2U registration
6. Maybank IBG FAQ
7. Maybank transfer status FAQ
8. Maybank TT FAQ
9. Maybank foreign transfer limit
10. Maybank FAQ - decrease limits