Maybank Singapore - 2 user guide funds transfer 31 March 2011 · 2018. 10. 17. · Maybank Singapore Limited UEN 201804195C 5 November 2018 3 I. Definition of Funds Transfer Funds

Maybank Singapore Limited UEN 201804195C5 November 2018

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No part of this document may be reproduced, stored in a retrieval system of transmitted in any form or by any means. Electronic, mechanical, chemical, photocopy, recording or otherwise without prior written permission of:

Maybank Singapore LimitedVirtual Banking

No. 1 Ang Mo Kio Street 64, Maybank Centre, Singapore 569083

User Guide for BIB Funds Transfer

www.maybank2u.com.sg

http://www.maybank2u.com.sg/

Maybank Singapore Limited UEN 201804195C 5 November 2018

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Table of Contents

I. Definition of Funds Transfer ................................................................................................................... 3

II. Process Flow for Funds Transfer ........................................................................................................... 3

1. Creator Part ........................................................................................................................................... 4

2. Approval Part ......................................................................................................................................... 9

III. Update Payee Account List for Funds Transfer .................................................................................... 15

IV. View / Cancel Future Transfer .............................................................................................................. 25

V. View Transaction History ..................................................................................................................... 26

VI. View Limit ............................................................................................................................................ 27


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I. Definition of Funds Transfer

Funds Transfer Service via Business Internet Banking can be performed as follows:

1. Funds Transfer to Own Maybank Accounts

Transfer funds real-time to your company’s own deposit accounts with Maybank. Transfer can be immediate or scheduled.

2. Funds Transfer to 3rd

Party Accounts With Maybank

Transfer funds real-time and free of charge to other Maybank Deposit accounts. Transfer can be immediate or scheduled.

3. Funds Transfer to Another Bank

Transfer funds to Deposit accounts of other banks within Singapore. Transfer can be immediate or scheduled. There is a service fee of $0.20 per transaction.

II. Process Flow for Funds Transfer

The process flow for Funds Transfer requires the company to assign Authorised users with Creation function (aka Creator) and Approval function (aka Approver). The Creator will make and the Approver will authorise the transaction online.

The number of Authorised Users required in the submission process will depend on the assigned User Control Option and Approval Mandate of the company.

The cut-off time for approving the Funds Transfer transaction is before 10pm daily for transactions dated “Today”. Scheduled (or future dated) transactions must be approved 1 business day before Transaction Date. Failure to fully approve the pending transaction by the abovementioned timeline will cause expiration for the created transaction.

The following screen flow will show the step-by-step process of a “Creator” and “Approver” performing a Funds Transfer to 3rd Party Accounts With Maybank. The process for Funds Transfer to Own Maybank Accounts and to Another Bank are similar.

Note that the actual process for your company may vary depending on the company’s assigned User Control Option (ie Single or Dual Control) and Approval Mandate (ie Any One, Any Two, Any Three or Customized Mandate).


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1. Creator Part

1.1 At the Home Page, click on Funds Transfers Tab.


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1.2 At the Funds Transfers page, select To 3rd Party Accounts with Maybank. To proceed, you need to select the following fields:

a. From Account (Funding Account)b. To 3rd Party Account (Payee Account with Maybank)c. Amountd. Transaction Date:

- Today (immediate) - Scheduled (future-dated transactions)

e. Transaction Details: Only available for transactions dated “Today”

After filling out all necessary details, please read the Notes part before you click on “Next” button to proceed.


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1.3 The next page will display a summary of the transaction you have created. Key in your One-time Password (OTP) and click Next to proceed.


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Check through the transaction details again and click Confirm to proceed.


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1.4 Upon confirmation of OTP by the system, the status of the transaction will appear in the next screen as: Successful. Transaction pending approval from signatory / authoriser.

The Creator must inform the Approver to logon to Business Internet Banking to do the necessary approval for the created Funds Transfer transaction.

Note: For companies with Single Control (User Control Option) and Any One (Approval Mandate) setup, the Creation part will also be the Approval part if the submission is done by an Authorised User with Approval function. Instead of finding screen in step 1.4 above, the Authorised user will see the screen for step 2.5 (go to page 14) as the final screen of the transaction.


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2. Approval Part

2.1 At the Home Page, click on Approval Tab.


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2.2 At the Transaction Approval page, select Funds Transfer in the dropdown list for Transaction Category and To 3rd Party Accounts with Maybank in the dropdown list for Transaction Type. Click Search to continue.


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2.3 You will see a list of Funds Transfer transactions to 3rd Party Accounts with Maybank that require your approval. Select the transaction you want to approve then click on Approve.


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2.4 The transaction created earlier will be shown to you for validation. If you intend to proceed with the approval process, enter the OTP and click on Next.


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Check through the transaction details again and click Confirm to proceed.


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2.5 The final screen will show this status upon proper validation of the Approver’s OTP: Successful. Transaction has been approved by all required signatories/ authorisers.

If the company requires more than 1 Approver to complete the Funds Transfer transaction, the status will be: Successful. Transaction pending approval from signatory / authoriser (same as screen in step 1.4 on page 8).

The process under items 2.1 – 2.4 will be repeated by the other Approvers until all required approvers in relation to the assigned Approval Mandate of the company are able to approve. The Approval Mandate of a company can either be Any One, Any Two, Any Three or Customised Mandate.


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III. Update Payee Account List for Funds Transfer

Before you can perform a Funds Transfer transaction to your own Maybank accounts, to 3rd party Maybank accounts or to another bank, all payees must be pre-enrolled through the Update Payee Account List function. You can maintain a list of up to 18 payees (i.e. 10 Maybank accounts and 8 non-Maybank accounts). If you had reached the maximum number of payees and would like to add more payees, you will need to delete some existing payees first. Here’s the process flow on how to enroll and remove payee for Funds Transfers service.

1. Add Payee

1.1 To add a new payee, click on Funds Transfers tab. Select Update Payee Account List at the left menu and click on Add/Remove Payee Account(s) with Maybank to proceed.


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1.2 Click on Add button to proceed with adding new payee.


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1.3 Key in the Account Number and Account Holder Name. Click Next to proceed.

Note: For Update Payee with Another Bank, you will have to select the Bank Name and Branch Code when adding new payee. See sample screens on next page 18 -19.


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Choose the Payee Nickname and Bank Name


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Choose the Branch Code and key in the Account Number and Account Holder’s name


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1.4 An Authorisation Code to update payee account will be sent via SMS to the registered mobile number of the Authorised User. Enter the Authorisation Code and click Confirm.


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1.5 Once the system accepts the Authorisation Code, the new payee will be successfully enrolled. You may now proceed to do Funds Transfer to the new payee.


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2. Delete Payee

2.1 To delete a payee, click on Funds Transfer tab. Select Update Payee Account List at the left menu and click on Add/Remove Payee Account(s) with Maybank to proceed. Select the payee you want to delete and click on Remove button.


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2.2 The account details of the payee which you want to delete will be displayed for your validation. To proceed, click on Confirm button.


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2.3 Upon deletion of the record, a Successful status will be shown.


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IV. View / Cancel Future Transfer

Any Authorised User with approval function can request for the cancellation of an approved Scheduled (or future dated) Funds Transfer. Cancellation is allowed is the request is made more than 1 business day before the Transaction Date.


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V. View Transaction History

To check the status of the Funds Transfer, simply click on Funds Transfers tab and select View Transaction History at the left menu. On this page, you will be able to determine whether the transaction is still Pending, Successful or Unsuccessful.

The definition of the different status, which is shown in the Notes section, is appended as follows.

Pending – Transaction is pending confirmation from the receiving bank. Successful – Funds has been credited to the Payee account. Unsuccessful – Transfer has been rejected. Verify the Payee’s account information and perform the transfer again.


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VI. View Limit

Authorised Users with Approval function are authorised to view the Daily Customer and Transaction Limits. Simply click on the Funds Transfer tab and select View Limit at the left menu.

Documents

Maybank Singapore - 2 user guide funds transfer 31 March 2011 · 2018. 10. 17. · Maybank Singapore Limited UEN 201804195C 5 November 2018 3 I. Definition of Funds Transfer Funds