Maybank has introduced a new security feature called Money Lock on its MAE app, becoming the first in the Malaysia to offer such feature.
This tool is designed to empower customers with enhanced control over their funds, shielding them from online scammers and unauthorised transactions.
With Money Lock, users can secure a specific amount in their savings or current accounts, effectively restricting digital access to those funds.
Customers have the flexibility to lock amounts as small as RM10 or as much as their entire account balance.
Moreover, the locked amount can be increased at any time via the app without incurring additional fees or limits on activations.
Activating Money Lock is straightforward. Customers select their desired account, specify the amount they wish to lock, and confirm the transaction using Maybank’s Secure2u feature.
Unlocking or reducing the locked amount, however, requires an added layer of security. Customers must visit a Maybank ATM or branch for verification. Once completed, the funds are immediately accessible or adjusted as per the user’s request.
The locked funds are fully protected from all forms of digital and ATM transactions, including transfers, withdrawals, debit card purchases, and bill payments.
To learn more about Money Lock, you can head over to Maybank’s website.