Maybank Online Banking FAQs > eServices > Maybank2u.com Singapore

  1. FAST (Fast And Secure Transfers) is a new electronic funds transfer service which allows customers to use an Internet banking account at a participating bank to transfer funds to another participating bank almost instantly. Customers will be able to transfer funds almost instantaneously from one bank to another bank, compared to 2 to 3 working days for eGiro and cheques. FAST will be available 24/7 and is limited to funds transfers within Singapore.

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  2. You may wish to refer to ABS website for full listing of the participating banks.

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  3. FAST benefits include:

    1. Almost immediate transfer/receipt of funds
    2. Available anytime: 24x7, 365 days a year

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  4. You will need to set up a payee via Online Banking if you have not done so.
    Thereafter, you can do a FAST transfer via the following modes:

    Online Banking via desktop:

    1. Log in to Online Banking.
    2. Upon successful login, select “Funds Transfers”.
    3. Click on “To Accounts with Maybank and Other Banks” > “To Another Bank”.
    4. Select “Within minutes (via FAST)” when prompted to choose the mode of transfer.
    5. Select the payee you wish to make a transfer to. Only account payees from the other 13 participating banks of FAST will be available for you to select.
    6. Thereafter, please provide details of your transfer and submit your transaction after entering the One-Time Password (OTP)* to confirm your request.

    Mobile Banking App:

    1. Log in to Mobile Banking App
    2. Upon successful login, select “Funds Transfer”
    3. Select “To Another Bank (Within Minutes Via FAST)”
    4. Select the payee you wish to make a transfer to.  Only account payees from the other 13 participating banks of FAST will be available for you to select.
    5. Thereafter, please provide details of your transfer and submit your transaction after entering the One-Time Password (OTP)* to confirm your request.

    Mobile Banking via browser:

    1. Log in to Mobile Banking using the browser on your mobile device.
    2. Upon successful login, select “Funds Transfer”.
    3. Click on “To Another Bank (Within minutes via FAST)” when prompted to choose the mode of transfer.
    4. Select the payee you wish to make a transfer to. Only account payees from the other 13 participating banks of FAST will be available for you to select.
    5. Thereafter, please provide details of your transfer and submit your transaction after entering the One-Time Password (OTP)* to confirm your request.

    *Transaction Signing is required for FAST transfer amount more than S$20,000

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  5. You will be notified on the status of the FAST transaction online, whether it is successful or unsuccessful, once the transaction is completed. If the transaction is unsuccessful, there will also be an error message and error code displayed online to inform customers.

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  6. If the system shows that the transaction is “Successful”, it means that the funds have been remitted out from the Maybank account to the receiving bank. Hence, please inform the recipient to check with the receiving bank on the reasons for non receipt of the funds.

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  7. The delay may be due to communications or system issues. If you do not see the status of your transaction, please perform the following steps via Online Banking:

    1. Log in to Online Banking
    2. Upon successful login, select “Funds Transfers”
    3. Click on “To Accounts with Maybank and Other Banks” > “View Transaction History” to confirm if your transaction is successfully processed

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  8. There is a number of reasons why a transaction can be rejected, such as the transfer was made to a closed or an invalid account, or it could be due to some technical issues. An error message will be displayed online when your transaction has been rejected.

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  9. There are no charges for FAST transactions performed via personal (non-corporate) accounts.

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  10. Transfers via FAST can only be made to bank accounts of the participating banks. Transfers to non-participating banks would have to be made via eGIRO or MEPS.

    You may wish to refer to ABS website for full listing of the participating banks.

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  11. Currently, only 14 banks are participating on this FAST platform. If you would like to make a funds transfer to a non-participating bank, please use eGIRO or MEPS.

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  12. You can make FAST transactions any time of the day.

    Occasionally, Maybank will conduct system maintenance during which the FAST service will be unavailable. Customers will be notified via our website notice accordingly.

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  13. Before you can proceed to do transfers via eGIRO, MEPS or FAST, you will need to set up a payee via Online Banking. Please omit the first three digits of your OCBC or HSBC account number and select the correct branch (where your OCBC or HSBC account was opened) from the drop-down list of branches. Thereafter you can decide whether you wish to perform transfers via eGIRO, MEPS or FAST.

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  14. When you previously set up a payee for your OCBC or HSBC account via Online Banking, you were prompted to omit the first three digits of the account number and to select the correct branch (where your OCBC or HSBC account was opened) from the drop-down list of branches. For funds transfer transactions, including FAST transactions, the system will combine the branch code and the account number (which were already created as an account payee). Hence, you will need to ensure that your OCBC or HSBC account number is correct before you proceed with the FAST transaction.

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  15. Maybank provides our customers with the choice of sending funds via FAST, eGIRO or MEPS. You can continue to send via eGIRO or MEPS if you do not wish to send via FAST.

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  16. For FAST transactions, customers can transfer up to S$50,000 per transaction. However, by default, the daily limit for all online funds transfers for Maybank customers is set at S$3,000. Hence, if you wish to make a FAST transaction for an amount greater than S$3,000 (e.g. S$10,000 per transaction), please increase your daily limit via Online Banking or submit the Daily Transaction Limit Update Request form (PDF) before you perform the FAST transaction. Customers can increase the FAST daily transaction limit up to S$50,000.

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Category: Financial services

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