Maybank digitises Chinese New Year tradition

Source: Maybank

Maybank has come up with a modern day twist to some of the much loved Chinese New Year (CNY) traditions of presenting ‘ang pows’ and acquiring ‘crisp new notes’ for festive giving – even if a loved one is far beyond Malaysian shores.

The Bank has introduced four new innovative facilities in the form of e-Ang Pows, M2U Visa Direct, ATMs dispensing new notes as well its limited edition CNY display case for Kijang Emas bullion coins - as options for festive cash giving this year.

Maybank2u has found a new way to digitize the traditional act of giving money during Chinese New Year. It has introduced e-Ang Pow that enables Maybank2u users to send money to loved ones using just their mobile phone numbers. Senders can send single or multiple e-Ang pows via Maybank2u on the website or app. The receiver of the e-Ang pow can accept the money, even if he is not a Maybank customer. In a fun twist, senders can surprise their beneficiaries via whatsapp, Facebook, or any other social media platform by creating personalised CNY greetings with selfies, and dozens of fun and quirky stickers from the built-in photo app.

The M2U Visa Direct is targeted at those who wish to surprise their loved ones overseas with an ang pow during the festive season. They can use this service available via Maybank2u at a minimal cost of RM10, to remit cash that will be credited almost instantly to any beneficiary’s overseas Visa credit, debit or prepaid card - which can then be used for spending.

For customers who prefer the traditional mode of presenting ang pows, Maybank has also taken away the hassle of having to visit branches to change notes. Exclusively for Maybank customers, the bank has set aside ATMs at 88 on-bank locations nationwide which will dispense new RM10 & RM50 notes for customers’ convenience from 18 January to 9 February 2016.

The limited edition CNY display case for Kijang Emas bullion coins offer customers a different option for festive gifting where they can purchase the gold bullion coins in a specially designed display case from 30 selected Maybank branches nationwide. The coins which come in 3 sizes of 1 Troy ounce, 1/2 Troy ounces and 1/4 Troy ounces, are an alternative form of gifts; - offering long term investment potential.

Those seeking to grow their wealth with the New Year can enjoy the benefits of the attractive Fixed Deposit rates from 26 January to 29 February 2016.

Maybank Head of Community Financial Services (CFS) Malaysia Hamirullah Boorhan, said these products and services were designed to offer customers modern-day conveniences using cutting-edge technology, while still upholding the values and traditions of yesteryears.

“We believe that many of our customers will not only enjoy the conveniences we offer especially through our e-Ang Pow and M2U Visa Direct, they will also be happy to know that these are more environmentally friendly modes of presenting cash gifts to loved ones,” he said.

Hamirullah added that the Bank had also tied up with 5 selected malls in the country for special CNY festive promotions. Maybank card holders who spend at these malls from now until 15 February 2016, will enjoy a variety of rewards such as special gift redemptions, vouchers and treats points throughout the Chinese New Year period. They will also be eligible to enter a contest to win a brand new Mercedes Benz when using their Maybank Cards during this period. Additionally, Maybank2u customers are also in the running to win RM118 daily from 23 January to 22 February 2016 when they send e-Ang Pows via Maybank2u on the website or app or M2U Visa Direct.

Hamirullah said the introduction of these promotions were part of the Bank’s mission to humanize financial services as well as to enable its customers to maintain their festive cultural practices, albeit with a different twist. “As customers today are more technologically savvy and open to new ideas, we felt that they would be more open to these new services we offer.”

“We are expecting a 40% increase in transactions for both e-Ang Pow and M2U Visa Direct services during the Chinese New Year period,” he said.

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