Nice..

Great news!

What is DuitNow

DuitNow is a new service that enables you to transfer funds to your recipient’s DuitNow ID instead of their account number. You can register and transfer using DuitNow via Maybank2u.

Following IDs can be used for DuitNow registration:

1) Mobile Number
2) NRIC
3) Army or Police Number
4) Passport Number
5) Business Registration Number

No service fee up to RM 5,000. For transaction above RM 5,000, a RM0.50 fee may be applicable.



DuitNow ID Pre-registration

DuitNow pre-registration applies to selected customers. For those who are selected, you will be notified via Maybank2u website Inbox and Maybank app push notification.

You may choose to opt out from 8 Oct 2018 to 21 Oct 2018. Click here to opt out.



More Info

Click here for DuitNow FAQ

Click here for Pre-Registration Terms and Conditions

Click here for DuitNow (you will be re-directed to a page hosted by PayNet)

Hong Leong Bank: DuitNow is the new and easier way to send money to ANYONE at ANY BANK in Malaysia with just a mobile number. More details coming your way soon!

Find out more: www.hlb.com.my/DuitNow

Nice feature

DuitNow is an initiative from BNM or PayNet?

Paynet.

Ambank & HLB oredi link their customers to this system. Anybody know what sort of security implemented for cash transfers out? got 2FA?

got privacy issue too.

I simply tembak mobile number to get the name


for now, I'd rather opt-out first. monitor the situation and progress.

Several banks has sent notification to me that they have registered my mobile number for their respective DuitNow ID Pre-registration.

Since I only have one mobile phone number, all the DuitNow ID Pre-registration (except the first Pre-registration) will be rendered void by PayNet, since each identifier is unique, hence can only be registered to one account, regardless of whether the accounts are from the same bank or different banks. I have savings accounts in various banks.

So, why can't each bank ask for my consent first (such as via internet banking), before performing DuitNow ID Pre-registration? Is it because each bank is so eager to urge me to use their respective DuitNow service, and potentially earn a charge of RM0.50 per transaction applies for transactions above RM5,000.00?

I agree with cybpsych. For that, I have to perform the tedious steps to disable DuitNow ID Pre-registration for all my savings accounts.

Even though there are terms and conditions published by the banks, it is best to fully understand the exact mechanism of DuitNow and also all-inclusive service charge of using DuitNow. Sometimes, the terms and conditions does not state the complete range of service fees that may be imposed, from using DuitNow.

This post has been edited by kart: Oct 14 2018, 11:34 AM

I feel this is rather redundant initiative.
From what I read, you still need to login to your respective bank Internet banking or app to perform the transfer.

I thought there's already an existing initiative of using QR transfer.
Shouldn't that be popularized instead of this?

So far, I haven't any SMS notification regarding the pre-registration.

This post has been edited by David83: Oct 15 2018, 02:30 PM

DuitNow is Malaysian version of PayNow, a similar initiative implemented in Singapore.

https://www.posb.com.sg/personal/deposits/p...ith-ease/paynow

DuitNow may be suitable for those who are not financially savvy and cannot remember their savings account number. So, it is easier for those people to provide their mobile phone number, to other people, for the purpose of fund transfer.

Some of us cannot remember our savings account number, but we all do remember our mobile phone number, right?

For us in this Finance subforum, we are quite financially savvy, and thus, we may not need to use DuitNow. It is up to individual preferences, really.

yeah. This CIMB faq sheds more light on duitnow. Just another payment option in our online transfer screen. Still subject to TAC

Speak of the devil, I just received a SMS today from CIMB to tie my SA to DuitNow!

This post has been edited by David83: Oct 15 2018, 04:13 PM

Does DuitNow only tie to SA? Wil it the to CA? If I have multiple SA accounts in a single bank, how do I find out which account is it tied to?

the faq from cimb do help a bit.

but better opt-out from all banks first, then in December when they officially launch the service, then we do our own opt-in registration according to our preferred account (instead of auto-assigned now, which is IMO, ridiculous)

there are ppl having multiple CA/SA, especially those frequent FD services nowadays.

opt-out CIMB's DuitNow without sending SMS

https://www.cimbclicks.com.my/content/duitn...duitnow-opt-out

Any link for maybank, hong leong opt out? I haven't receive any message but I want to opt out ASAP before they auto opt me in.

Successful transaction status replaced with Push Notification
19 OCTOBER 2018

Dear Valued Customer,

Effective 13 October 2018, please be informed that the successful status for the following transactions performed on the Maybank app will be notified via Push Notification:

1. Funds Transfer within Maybank
2. Funds Transfer to other banks – Interbank GIRO (IBG) and Instant Transfer (IBFT)
3. Prepaid Reload

This is only applicable to registered Maybank app users. Please download and use the new Maybank app to experience this feature.

Thank you.

I think need to receive sms only can opt out

https://www.hlb.com.my/en/personal-banking/...t-campaign.html

https://www.maybank2u.com.my/home/m2u/common/duitnow.do