Leading the charge to provide banking to every Filipino through technology, Maybank brings us the iSave savings account and Maybank 2U Ph app.
Through the app anyone with government IDs and an Internet connection can create a fully functional Maybank bank account without ever leaving the comfort of their homes. Users simply have to download the app from the Google Play Store, and soon the Apple App store, upload relevant identification such as a photo of pertinent documents, a signature, and a photo, and wait three to five days for the delivery of their ATM card.
This iSave account is, for all practical uses, a regular deposit account that can be used as normal. To sweeten the deal, the ATM card can be used at any local ATM, or any Maybank ATM overseas with no additional charges. The iSave account has no maintaining balance, no required initial deposit, and starts earning interest once the account hits an average daily balance of PHP 20,000. Accounts can then be funded via in-bank deposits, or online funds transfers from other banks. Maybank is also looking at other deposit channels down the road.
Along with allowing customers to open savings accounts, the app can also be used to apply for credit cards and auto loans, with no lines, no traffic, and no extra hassle.
The company has also struck a partnership with the Air Asia rewards program, Air Asia BIG, to let customers earn points for banking with Maybank.