22  May 2015
Maybank offers discounted charges for remittances to Nepal

Maybank offers discounted charges for remittances to Nepal
- Discounts between 50-90% in remittance charges offered to customers

Maybank today announced that it will offer discounted charges for remittances to Nepal, bringing the cost down to only RM5 per transaction. This represents a discount of between 50-90% on the various remittance modes available.

The special remittance fee is aimed especially at assisting the Nepalese community including foreign workers in Malaysia who wish to transfer money to their families and friends in Nepal affected by the recent earthquake.

The special discounted rates of RM5 which is available from now until 15 June 2015, will be applicable to all customers undertaking remittances using Foreign Telegraphic Transfer (FTT) via M2U or over the counter as well as via MoneyGram services. Current charges for these services range from RM10 to RM40 depending on the service and amount remitted.

Maybank’s Head Community Financial Services Malaysia, Hamirullah B Boorhan said, “We are deeply moved by what has occurred in Nepal and how the situation would have affected the Nepalese community, especially its foreign workers in Malaysia, who will obviously be very distressed over the plight of their families back home. We have therefore decided to reduce our charges to a minimum rate and absorb the differences as part of our efforts to support them in their time of need.”

“We hope that with this discounted charges, our Nepalese customers are able to remit a higher amount home, which would no doubt greatly assist their families in their efforts to rebuild their lives as well as their homes. We believe that the reduction in fees is an effective way to contribute positively to our customers, and it is very much in line with our mission to humanise financial services.” said Hamirullah.