For Maybank users, if you've logged in to your Maybank app today, you may have noticed something new appearing on your dashboard. Say hello to MAE, the app says, as Maybank's latest E-wallet arrives that's linked with the bank's features.
Another new e-Wallet in the market? Is it worth it? Is it only for Maybank users? Don’t worry, we break down what you need to know about the latest e-Wallet and if it's worth getting behind the hype.
What is MAE?
MAE, which stands for Maybank Anytime Everyone, is not only available to Maybank customers but can be used for... well, everyone! The registration process is different between Maybank users and non-users, but in the end you gain access to the MAE via the Maybank app.
Even if you are a Maybank user, your e-Wallet will be a separate account from your Maybank account, which is ideal if you fear the security of making payments using your main Maybank account. For new non-Maybank customers, you’ll be provided with a virtual Visa card number which you can use to shop online. It also works with MaybankPay and Samsung Pay, which allows you to use your MAE account balance at any merchant with a supported card terminal.
The same cannot be said for existing Maybank customers since most conventional Maybank customers will have a physical debit card . But for greater versatility, Maybank is working on giving customers the option to convert their virtual card into a physical debit card in the future.
What does it offer?
There are two prominent features for MAE: Money In and Money Out.
Money In is basically topping up your MAE account, and you will need to top up RM10 to activate the e-wallet anyways. This can be done via your Maybank account on the app, Maybank Cash Deposit Machines or even over-the-counter at any Maybank branch.
Money Out is where you utilise the app as an e-wallet, where you can make payments and even buy movie or flight tickets! Sadly, Maybank users won’t earn TreatPoints using MAE to pay at the moment, but hopefully this will be implemented in the future.
What makes this e-Wallet any different?
Probably the best aspect about this app is that if you already have a Maybank app, there's no need to download an additional one and if you're already a Maybank user, this e-Wallet is very convenient.
With that said, there's already plenty of e-Wallets out there. MAE doesn't seem to offer much at first glance either, because as much as it has a lot of merchants listed, almost none of them have any promotions listed yet. No sign of a discount, free item or special add-ons. MAE’s info page on Maybank’s website does hint at future rewards to come though, but only after all their promotional campaigns are activated.
The app also currently has a mini game called Money MAE-Hem where you tap coins to earn money that will be credited to your e-Wallet, but be sure to avoid the falling bombs while you’re at it. You only get one chance, and for more chances you will need to invite more people to MAE using your code. (Psst, mine is: mjb1010)
Should you get MAE?
As it's just launched, there isn't a lot to look out for just yet so it's best to hold off until better promotions roll in. But if you're already a Maybank user and have the app, then it's not a bad addition to have and the ease of transferring between your account to the e-Wallet is attractive as you can use QRPay to over 200,000 merchant users and it does not affect your own Maybank account. But with very minimal rewards, I suggest sticking to the RM10 minimum cash into the e-Wallet until better promotions kick in.