03.15.08
Here comes Maybank Visa Debit Card
Maybank just launched a new visa debit card which ties to your saving or current account. Very likely this card can be used to withdraw Paypal funds.
Being Malaysia largest bank in terms of both market capital and internet banking users, this will mean a major push for debit card usage in the country. Interesting to watch is, will it hamper the bankcard (comprises of ATM, e-debit and MEPS Cash) initiative by MEPS, a so-called government flagship project in moving towards a cashless society?
Seems like there’s a lot of things a VISA debit card can do but the bankcard cannot. Strictly from a consumer point of view, i really don’t see any reason why i want to use Bankcard to spend instead of Visa Debit Card. So debit card will prevail, and below are the reasons why.
Below is a brief comparison of our very own bankcard vs Visa-branded debit card
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| Visa Debit Card | Bank Card | |
| Online Shopping? | Yes. As long as the website using a payment system supporting Visa Debit, eg WorldPay. Which a lot of ecommerce website does. | Yes, but requires a special card reader and only works with website that supports MEPS Cash? my comment: forget about it, who will want to dig out extra cash buying a card reader & carrying it around just so “uncool”! |
| Buying things from shops around the world? | Yes, it works like a credit card, the only difference is that the amount spent is deducted directly from your saving / current account. Looks like a VISA card, works like a check. You can only spend the amount you have in your account. Since it’s VISA, of course it’s accepted by merchants and worldwide. | Restricted to Malaysia merchants only. according to Maybank, only about 2500 of them locally. So even if AirAsia can fly you to Goldcoast, you probably will find your bankcard “useless” there. |
| Withdraw your saving / current account money from any ATM? | Yes, you can do this in any ATM worldwide supporting PLUS. This of course including our local banks ATM, most of them support PLUS. | Limited. Only local banks ATM and also certain ASEAN country ATM only. This again provided the foreign bank ATM compatible with both MEPS and the local issuing bank. Eg only Maybank Bankcard support money withdrawal to Thailand, Singapore and Indoensia ATM. Again, if you are flying AirAsia to China carrying only bankcard, i wish you good luck. |
Some related links and news:
Maybank Targets 1 Million Maybankard Visa Debit Cards In 12 Months
Maybank targets RM1b debit card spending by end-2008
MEPS in card tie-up with China UnionPay
Learn more about history of Bankcard (history as in this supposedly an official website of bankcard is not updated as of time of writing, the promotion on the website dated back to 2005, hello…. directors, are you sleeping?)
Michael Woo said,
March 17, 2008 at 5:42 pm
Ah another great way to withdraw paypal. it’s so new at the moment and not 100% sure that this card can be used to withdraw paypal funds.
But knowing that it has plus service now it’s a big boost especially that you can withdraw your money anywhere - worldwide.
I’ve been using etrade at the moment. maybe this is a good alternative..
admin said,
March 17, 2008 at 9:59 pm
hi michael, it’s not known yet at time whether it works or not. But seem thus far VISA-branded debit card very likely to “work”. Anyway, i’m sure you will soon find the answer in the blogosphere.
Blog Marketing said,
March 17, 2008 at 11:38 pm
Michael: I have called up the Maybank customer service toll free number, apparently they told me it is not “compatible” to the PayPal withdrawal. However, don’t take my word, you are encourage to go ahead to try it out. Maybe you can proof to the staff you are right!!
Check out my review here too:
http://stevenwongblog.com/business-news/paypal-withdrawal-review-on-maybank-visa-debit-card/
Adrian: Thanks for your comments in my blog.
Regards,
Steven Wong
Faiz Wahab said,
March 20, 2008 at 10:41 am
Hey man. I’ve tried the maybankard debit card VISA. And sadly to say.. this card doesn’t support Paypal, Google Checkout or any other type of internet transaction.
I’ve tried it and it says there “Your card has been denied by your bank”. I’ve called the customer service and apparently.. this card can’t be used for internet transaction. What a bummer. So the only choice is still Public Bank debit card and Tunemoney.
lankapo said,
March 26, 2008 at 11:51 am
lor cannot use with paypal…and internet transaction ?
hmm what a waste.. maybank should rectify this
Umarzuki said,
March 26, 2008 at 1:07 pm
What a bummer, man..it took me considerable amount of time to get it but then it cannot be used for paypal…*sigh*
Faiz Wahab said,
March 29, 2008 at 12:16 pm
Can’t be helped guys.
Seems like we have to use PB and Tunemoney.
shaiful said,
April 7, 2008 at 5:39 pm
maybank officer stated all online transaction including paypal …may can be used after jun 2008
mozai said,
April 9, 2008 at 11:44 pm
just very keen to work on co-branding with existing big membership comunity to use this product as value added and extra benefit for their membership card with maybank visa debit…great opportunity…
FuGZ said,
April 18, 2008 at 5:47 pm
funny, i got the debit card, purchasing items is not a problem via Visa.
But online and paypal, my card got declined. Called the customer serv. and they said, e-commerce not available yet till June or July.
denin said,
April 20, 2008 at 3:40 pm
so sad, big name in banking. but still in bad condition…
jakun-nya said,
April 29, 2008 at 9:01 pm
hahahah ..visa debit card.
Online transaction still declined.
thiam said,
April 30, 2008 at 1:23 pm
Hi guys, I’ve been having problems withdrawing funds with my etrade visa debit card from Malaysian ATMs. Previously, no problem but now the ATMs reject the card…Anyone having the same problem?
adamknox said,
May 1, 2008 at 10:42 pm
yeah same here too. getting frustrated about this, it’s been 3 days now i think. is it just Maybank? are there any other alternative banks i can withdraw from? or is this the end for etrade debit cards? boo hoo
walter kho said,
June 2, 2008 at 4:43 pm
i tried to purchase online but got declined. what a waste. should have gone for PB debit card.
khairul said,
June 7, 2008 at 10:20 pm
im at japan rite now.
But why i can’t do any payment by my visa debit card?
Still have some in acc.
please, anyone??
A-Sha said,
June 22, 2008 at 5:28 pm
I applied because I wanted to use it for Paypal yet it was denied. WTF. And the Maybank guy said I can use it online. WTF o.O
wan said,
July 5, 2008 at 12:16 am
hey guys, try affinbank debit mastercard. I did a lot of transaction using paypal at ebay with this card. it’s work great
e1s said,
August 13, 2008 at 4:05 pm
Which Public bank card debit is similar to this 1? Im abit confuse, never used CC b4
Musfafirdaus said,
August 24, 2008 at 9:07 am
Why is my maybank Visa Card cannot be added as PayPal varrified card.. I’m confuse..
Faizli said,
September 24, 2008 at 5:18 pm
now in September, but still can use Maybank Visa Debit for e-commerce…
Faizli said,
September 24, 2008 at 5:19 pm
sory.. i mean can’t use
Butterfly84 said,
October 8, 2008 at 10:38 am
cannot purchase online with maybank visa debit card..the bank was just talking bullshit that customers can use the card to buy online. F***!!! such a big bank but they overlook a very important feature of buying online with their visa debit card!
lee said,
November 14, 2008 at 1:20 am
maybank officer told me i can used online payment with this visa debit card.
LOL….i asked twice!…………….tonight my card declined..wth???
not to be rude…but honestly..u guys sux!!!
Rosli said,
November 16, 2008 at 1:31 pm
Maybank debit card is suck, still cant use over internet transaction even now is November. The biggest bank in Malaysia still cant prove that they are the best bank ever……..
admin said,
November 17, 2008 at 9:30 am
rosli, be patient. Maybank is a banking dinosaur (something like Trex), if they don’t intend to move, no matter how hard you push, they stand still. Once they find a target and move, then they can eat you up alive.