KUALA LUMPUR, May 22, 2015:
Malayan Banking Bhd (Maybank) today cut charges for remittances to Nepal, bringing the cost down to only RM5 per transaction until June 15.
In a statement, Maybank said: “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 discounted rates are applicable to foreign telegraphic transfer via M2U online portal 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,” said community financial services head Hamirullah B Boorhan.
“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 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.”