Maybank to impose cooling-off period for transfer limit increases starting July 31

The measure allows customers to contact the hotline or activate the Kill Switch via the website or app to block accounts and stop transactions. — AZHAR MAHFOF/The Star

PETALING JAYA: Maybank will introduce a 12-hour cooling-off period for transfer limit increase requests on its Maybank2U website, effective July 31.

The bank said the cooling-off or waiting period was introduced to curb online bank fraud, especially in cases where scammers increase transfer limits before performing unauthorised transactions.