14 August, 2021
National Bank of Cambodia and Maybank Unveil First Mobile Cross Border Funds Transfer Service via Bakong e-wallet and MAE app, according to an announcement.
The National Bank of Cambodia (NBC) and Maybank have jointly launched the Maybank-Bakong Cross Border Funds Transfer, a real-time funds transfer service between Malaysia and Cambodia through the NBC’s Bakong e-wallet and Maybank’s MAE app.
The ultra-convenient service allows Maybank customers in Malaysia to transfer funds directly to their friends, family or business partners in Cambodia via the MAE app, using just the mobile phone numbers of the recipients registered with Bakong e-wallet.
In the first phase, customers will be able to transfer funds from Malaysia to Cambodia, while transfers from Cambodia to Malaysia will be rolled out at a later date.
Besides convenience, the service is also affordable as it only charges a minimal service fee. Maybank customers are able to transfer funds up to USD2,500 (or RM10,000 equivalent) daily via their mobile devices.
In conjunction with the launch, Maybank is currently having a promotion and will waive the service fees for all transfers made from now until 31 December 2021. Customers who wish to access the Maybank-Bakong Cross Border Funds Transfer feature can do so via the “Transfer” function in their Savings or Current account on MAE app.