Maybank Launches Money Lock, a Market-first Feature to Protect Funds from Online Scams

2 Jan

Written By Lavinia Abirami Selva Kumaran

The Star | 2 January 2025

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has introduced a market-first counterfraud feature on the MAE App called Money Lock. This feature enables customers to lock funds in their chosen savings or current accounts, preventing digital access and protecting the money from online scammers.

In a statement, the bank said that this additional layer of security allows customers to enjoy the benefits of online banking while ensuring their financial peace of mind.

With Money Lock, customers can choose how much of their funds to secure, from as little as RM10 to their entire account balance. They can easily increase the locked amount anytime through the MAE App, with no fees and no limit on the number of times Money Lock can be activated.

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