Have you ever wondered how to transfer ASB money to your Maybank without having to queue long at the bank counter or ATM? Now, technology has advanced, everything can be done online, no exception to withdraw money from our ASB account and put it in a Maybank account.
ASB is the savings we’ve been saving all this time, right? So, if you want to remove it for your own use, you can just use this online method.
Not only easy, but also fast and safe. You don’t have to worry about losing money. So, when you read this article to the end, you will know how to transfer ASB money to your Maybank account without a headache.
How to Transfer ASB to Maybank
The period for the money to enter the bank account is usually fast, within a day. So, if you make a resale request on Tuesday, you can see the money in your Maybank account at noon on Wednesday.
But if there is any problem or the information you entered is incorrect, the resale is unsuccessful, your ASB units will be returned to your account within 10 days.
So, make sure you enter the information correctly so that the withdrawal process goes smoothly.
To withdraw money from your ASB account and transfer it to your Maybank account, you can follow these simple steps:
- First of all, you have to login to the portal https://www.asnb.com.my. Once logged in, you will see several options.
- Click on the 3-dots that are usually at the top or upper left corner of the portal.
- After you click, look for the written option Return Sales and choose that.
- You have to enter the amount of money (in Ringgit Malaysia) that you want to withdraw from your ASB account. After entering the amount, press the button Next.
- In this step, you will have to choose a transaction confirmation method. You can choose between Push notification, Secure TACor TAC SMS, whichever you feel more comfortable with. After that, click the button Confirm.
- If everything is ok and correct, you will see a successful transaction receipt. The money you withdraw will be credited to your Maybank account the next day.
How to Withdraw ASB Money Using the MyASNB App
To withdraw money from an ASB account using the MyASNB application, you can follow these simple steps:
- Log into the MyASNB application using your account information.
- After logging in, you will see a button Return Sales or Redemption. Click this button.
- Here, you will be given a choice of funds that you can choose from. Click on the fund you want to sell back.
- Next, you need to enter the number of units you want to sell back. Usually, you can choose the amount already prepared such as RM100, RM300, RM500, or you can enter any other amount you need. If it is complete, tick on the agreement below and click the button Next.
- You will be taken to a page Unit Holder Confirmation. Click the button Submit.
- Double check the details of the bank that will be used for the fund transfer. Here, you will be given the option of whether to verify through the MyASNB application or through SMS TAC.
- A verification notification will be sent to you for verification purposes. Enter the TAC number you received or confirm the notification sent for processing the withdrawal.
That’s the easy and fast way to withdraw ASB money using the MyASNB application.
How to Transfer MAE to ASB Online
For a direct transfer from Maybank, you should know that every time you make a transaction like this, Maybank will charge you RM1.00. So, you have to prepare that much extra money to pay this charge.
But, if you don’t want to be charged extra, you can choose to transfer directly online through myASNB or through the application. This method is more economical because there are no additional charges to be paid.
One more important thing you need to know, the transfer transaction period will be updated after 2 working days. So, for example, if you make a transfer on Monday, the money will only enter your ASB account on Wednesday.
But if you use myASNB, you can immediately see the money coming into your account without waiting a long time. So, the choice is yours, follow the most suitable and comfortable way for you.
To transfer money from the MAE application to the ASB account online, you can follow the simple steps that we share:
- Open the application MAEand make sure you have logged in first.
- After that, you click the button Transfer which you can find in the application.
- After you click, look for the tab ASNB by swiping to the left. The tab is usually in the second part of the end.
- If you have not registered your ASB account in your Maybank account, you can click on the option New Transfer.
- After that, you have to enter all the necessary details in the product Bumiputera Stock Trust.
- For example, you have to enter ID number Your ASB and other required information.
- But, if you already have a myASNB account and have connected it with your Maybank account, it’s easy. Usually, that account will be displayed in the section Favorites Automatically.
- Last but not least, you just need to enter Amount of Money that you want to transfer to your ASB account. Minimum transfer usually RM1.00but can be more if you want.
- When you are ready to enter all the information, you pay as usual until the transfer process is complete.
How to Withdraw ASB Money at the Post Office
If you want to withdraw money from your ASB account but don’t want to do it online, you can also do it offline at the Malaysian Post Office. Here are the ways:
- Go to the Post Office branch nearest to your location.
- Make sure you bring your ID card as a fingerprint verification before making a withdrawal. This is important to verify your identity.
- Fill out the ASB unit resale form first. Make sure you fill in all the required information completely.
Post Office operating hours for ASB issuance vary by state:
- For states operating on Sundays: Operating hours start from 8.30am to 5.30pm.
- For states operating on Saturdays: Operating hours start from 8.30am to 1pm.
Importantly, for the withdrawal of ASB money at the Post Office, there is no longer a withdrawal limit that needs to be taken into account. So, you can withdraw according to the amount you need without any specific limit.
How to Withdraw ASB Money at the Counter
If you want to withdraw money from an ASB account but don’t want to do it online, you can also make a withdrawal at any bank counter that is an ASB agent.
Here are the steps:
- Go to any bank counter that provides services for ASB withdrawal.
- Tell the bank staff on duty that you want to withdraw your bumiputera share trust savings.
- The bank staff will give you an ASB unit resale form. Make sure you fill in all the required information completely on the form.
- You will be assigned a queue number for the withdrawal process. Be patient, you will be called later.
- During the withdrawal process, make sure you hand over your identity card to verify yourself.
- The bank staff will continue the process of withdrawing your ASB money.
For your information, withdrawal of ASB money can only be done at the bank counter.
A list of some banks that you can use for ASB withdrawals over the counter include:
- Hong Leong
- Alliance Bank
- Muamalat Bank
- Islamic Bank
- Affin Bank
- CIMB, BSN
- and others.
Best of all, there is no ASB withdrawal limit at the bank counter. So, you can withdraw your ASB money without certain limits, either for your own use or your child’s.
ASB Withdrawal Maximum Limit
The maximum resale limit of 2,000 units per month is set by ASNB as this amount is considered sufficient as a source of immediate finance for unit holders at times of need.
ASNB encourages unit holders to view their investments as medium and long-term investments.
Therefore, unit holders are encouraged to maintain their investments to get investment benefits over a longer period of time, and only sell back units when necessary.
In addition, ASNB allows unit holders to sell back online repeatedly on the same day, but there is a maximum limit and a limit on the number of transactions to be taken into account.
However, if unit holders wish to carry out unlimited resale transactions, they can do so at ASNB branch counters or agents.
It is important to remember that unit holders are not allowed to top up and resell the same ASNB trust unit on the same day.
Why Transfer Money Does Not Enter Bank Account
If you have received a notification that your transaction was successful via SMS, it means that your resale application has been received by ASNB for the crediting process.
But if the money still hasn’t entered your bank account within the appropriate period, there may be several reasons that cause this delay. So, you have to pay attention to the following things:
- The bank account information you provide may be incorrect or invalid. Make sure the bank account number and other information you enter is correct.
- You may be using a bank account that is not authorized by ASNB. For example, third party accounts, joint accounts, or e-wallet accounts may not be used. Make sure you use a valid personal bank account.
- Your personal information in ASNB may differ from the records in the bank. If the name or ID number does not match, it can cause problems.
- It is possible that your bank account does not exist or is inactive. Make sure your bank account is active and working properly.
So, make sure the account information you provide is correct and comply with all the conditions set by ASNB to avoid any delay in receiving your resale proceeds