DuitNow is a unique initiative introduced by Maybank2u and Maybank2u Biz and supported by other Malaysian banks. The main goal of this initiative is to supply the customers with a real-time online bank transfer services that is equally fast and secure. And by secure we mean — bank-level secure!

The main difference of DuitNow transfers from the regular bank transfers is that funds are moved between users’ IDs, not between bank accounts. From the customer’s standpoit, it can be explained the following way:

• Anyone who has a bank account can register it within DuitNow to receive the unique DuitNow ID.
• The registration and ID will be tied to the user’s mobile number, NRIC, army or police number, passport number, or business registration number.
• Both Current Accounts and Savings Accounts can be registered within DuitNow.
• A user can have several accounts registered within the system but each account must have its unqiue and own DuitNow ID. This means that each of the means to register, be it the user’s mobile number, NRIC, army or police number, passport number, or business registration number, can be used only once per each account. 

What’s peculiar is that this service will be available not only to the citizens of Malaysia but also to foreign residents. To gain access to DuitNow, they will need to be clients of Maybank2u or any of the brand brands. Under these circumstances, registration within the DuitNow network will be possible under the international phone number or the passport number provided to the bank when opening an account.

When it comes to the default DuitNow limits, they reach 5,000 RM per day for Maybank2u and 10,000 RM per day for Maybank2u Biz. As for the fees, they are waived for Maybank2u web and app versons and are capped at 0.50 RM for any transactions above 5,000 RM within Maybank2u Biz.