How to Open a Maybank Saving Account Online in 2026

Let’s be honest: visiting a bank branch is a real chore. Between the endless queues and the paperwork, it’s a lot to handle.

If you’re wondering whether you can open a Maybank savings account online, the answer is a definitive yes. This guide breaks down exactly how to navigate the app, account options, fees and requirements, and when a branch visit is actually necessary.

We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

Can You Open a Maybank Saving Account Online in 2026?

Yes, you can. Malaysia is pretty much now mobile-first, making it possible to open a Maybank online savings account entirely via the MAE app. The best part? No branch visits, no queues, and no "banker’s hours" to worry about.

Customers can also apply for other Maybank products online. These include:

• conventional/Islamic accounts,
• loan/financing,
• cards,
• investment,
• and insurance/takaful.

Just keep in mind that as of 5 January 2026, Maybank moved all new account registrations from the old Maybank2u website¹ to the MAE app for a safer online banking experience..

At the end of the day, though, while this process is now digital, users may still need to visit a Maybank ATM or branch for certain situations, such as to unlock protected funds or if their Maybank2u Access was deleted, so that’s something to keep in mind.

Step-by-Step: How to Open Your Account via the MAE App

MAE by Maybank is the bank’s all-in-one app that serves as both an e-wallet and a mobile banking platform. Through the MAE app, Maybank customers can view their accounts, transfer funds, pay bills, use QR pay, and manage finances with features like Tabung (savings) and expense tracking, plus enjoy enhanced security via Secure2u.

Here’s a step-by-step guide of how to open a Maybank saving account via the MAE app:

1. Launch the MAE app. This can be downloaded from the App Store or the Google Play Store.
2. For new users: After the introduction, tap on ‘X’ on the top-right corner of the ‘Let’s Get Started!’ page.
3. Select ‘Apply’ on the navigation bar at the bottom-right of your screen.
4. Three options will be presented: Savings Account, Current Account or Investment Account. In this instance, select Savings Account.
5. Following the onscreen instructions, users will scan their IC, verify it with a selfie, and fill up their employment details. (Existing users can select their pre-filled information)
6. Finally, verify and confirm all details.

Do note that after opening a Maybank account, new users need to create a Maybank2u online banking access and activate it to be able to make transactions.

Customers will also be required to complete their e-KYC (know-your-customer) via the app. A good tip would be to prepare this information ahead of time including Name (as per MyKad/Passport), MyKad/Passport Number, Mobile Number, Address, Employment Details and Email.

*Ensure these details are current and accurate as Maybank reserves the right to close/freeze any MAE at any time if any suspicious or incorrect information is discovered.

Choosing the Right Maybank Online Account (2026)

You have three main paths for opening a Maybank account online. Whether you want a simple wallet or a profit-earning account, you can skip the branch queue and do it all from your phone.

Details correct at time of research - 2nd March 2026

A new development of ntoe: the MAE Wallet limit just doubled to RM20,000. While it doesn’t earn regular interest, Maybank does run high-yield campaigns occasionally – like the recent 5.50% p.a. Bonus for MAE’s 5th anniversary that concluded earlier in January 2026 – which made it punch well above its weight.

If you prefer steady growth, the Savings Account-i or Maybank2u Savers are better anchors for your ringgit. Just remember to keep an eye on the RM250 minimum balance to keep your account active.

Can Foreigners Open a Maybank Account Online?

Yes, but there is a bit more legwork involved for foreigners looking to open a bank account in Malaysia.

If you’re a foreigner, you can start your application via the app, but you’ll need your passport and a valid work or student permit. To prove you’re actually living or working in Malaysia, have a confirmation letter from your employer or university ready to go.

That said, foreigners and non-residents still need to visit a Maybank branch for in-person verification within 10 working days upon successful online application. They will need to bring their identification and supporting documents along.

However, basic bank account products are usually only available to Malaysian citizens and permanent residents. Short-term tourist visas therefore remain ineligible for standard savings accounts.

If you’re on a short-term tourist visa, standard savings accounts aren’t possible. For a faster workaround, Wise lets you open a multi-currency account in just a few minutes, and you can use the Wise card immediately after setting up your account – perfect for spending like a local while you get settled in Malaysia.

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Fees and "Hidden" Costs

As with all traditional banking products, there are costs and fees involved.

For instance:

• The MAE Visa Debit Card Annual Fee is RM8.
• Each cash withdrawal at an ATM via MEPS for Maybank Savings Account-i holders is RM1 per transaction.
• Replacement fees also apply. This can be for a lost ATM card (RM12), a lost savings passbook (RM15 including stamp duty), or for a savings passbook in bad shape (RM10).
• Early closure of the account (within 3 months of account opening) incurs a fee of RM20.
• There’s also a RM5 charge per transaction done over the counter that could be done online or at kiosks. These include transactions less than RM5,000.

As a big bank, Maybank offers high-tier convenience, but this also comes at a price. Using international payment networks such as Visa and Mastercard, exchanging currency, or foreign transactions on a credit card also incurs the “hidden” Overseas Transaction Conversion Fee⁶ – a markup that you may not even be informed of upfront.

Hold, Exchange and Send Money the Smart Way 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.

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Frequently Asked Questions (FAQs)

Can I open a Maybank savings account online without visiting a branch?

Yes. Eligible Malaysian residents can complete the process digitally via the MAE app using e-KYC verification. However, certain cases (e.g., foreigners or verification failure) may require a follow-up branch visit within 10 working days.

What are the minimum deposit requirements for a Maybank savings account?

The minimum initial deposit varies by account type. For example, the Maybank Savings Account-i typically requires a minimum initial deposit of RM250 for adults. Check the specific account’s product page sheet for updated figures.

How long does the online approval process take for a Maybank savings account?

It can take minutes, more than 12 hours or days. Non-Maybank users may easily create a MAE account for free in a matter of minutes via the MAE by Maybank2u app without a branch visit, but for Secure2u activation, there is a 12-hour cooling period for security purposes. Failed verification also requires a bank branch visit within 10 working days.

What is a Maybank Savings Account-i?

Maybank Savings Account-i is an Islamic savings account based on Shariah principles (Commodity Murabahah contract), offering profit rates instead of conventional interest.