Maybank is gradually replacing SMS TAC with Secure2u. Instead of receiving SMS TAC for many transactions, you will need to click on a pop-up window in the Maybank App to verify the transaction.
However, Maybank’s measure has been met with criticism from users who have accused Maybank of making transactions insecure. In fact, according to Maybank, Secure2u is a more secure method of transaction verification than SMS TAC.
The so-called Secure2u means that when a user makes a transaction on Maybank2u, a pop-up window will appear on the Maybank APP, asking the user to choose whether or not to accept the transaction. If the user agrees with the transaction, they can click Accept. Otherwise, they can click Reject.
The reason why Secure2u is more secure than SMS TAC is that Secure2u can only be used on phones that have been authenticated. Those phones that have not been verified will not be able to use your Secure2u.
When you use the Maybank App on a new phone, you will receive a six-digit verification code via SMS to validate your phone, and your Maybank App will then be bound to that phone. Only the bound phone will receive the Secure2u pop-up each time you make a transaction.
Even if a stranger knows your Maybank2u password, they will not receive Secure2u as long as they are not bound, which is more secure than SMS TAC.
The second benefit of Secure2u is that you don’t have to wait for SMS TAC. Secure2u doesn’t have that problem. As long as you have a good network connection, you will receive the Secure2u authentication pop-up.
Secure2u can only verify transfers or transactions over RM2000 via Maybank2u, and Secure2u will only verify future bill payments and IBG transfers.
