Maybank and the Employees Provident Fund (EPF) today signed an agreement to officially launch the online payment of EPF contributions via Maybank’s internet banking channels, Maybank2^e.net and Maybank2u.com.

Signing on behalf of Maybank were Datuk Amirsham A Aziz, President and CEO and Dato’ Mohammed Hussein, Deputy President. EPF was represented by its CEO Datuk Azlan Zainol and its Deputy CEO, Puan Rusma Ibrahim.

At the signing ceremony, Datuk Amirsham said the new online payment service provides better convenience and benefits to both enterprise and self-employed customers.

“Today’s launch of EPF payments, via Maybank2^e.net for enterprise customers and Maybank2u.com for the self employed reinforces our customer-centric commitment to offer innovative and value-added products. The internet banking channels enable our customers to able to use the service conveniently, 24 hours a day, 7 days a week, anytime and anywhere. Paying EPF contributions via these two internet banking channels is immediate, time saving and cost efficient as it eliminates the problems associated with the manual pay-in such as queuing, handling of cash or cheque issuance as well as other back-end processing costs.”

“With this online payment facility EPF will benefit with reduction in processing time, data submission shorten to a next day timeframe, elimination of manual reconciliation, reduction of errors and other manual processes involved in EPF contributions. The benefits derived from reduced back-end processing cost will translate to cost savings as well as increased productivity for both EPF and our customers,” said Datuk Amirsham.

“For enterprise customers, the bulk payment facility of Maybank2^e.net is well suited for imitating payroll as well as making EPF contributions. We can potentially have over 70,000 customers who can immediately use this online facility,” added Datuk Amirsham.

“Maybank has also extended the convenience of making EPF contributions for our retail customers via Maybank2u.com. EPF is one of more than 270 payee corporations in Maybank2u.com. Those who do not have an EPF account will only need to obtain one from the EPF following which they can immediately use the EPF Payment facility to make their EPF contributions. We would encourage self-employed customers to utilize this facility to save for their future,” said Datuk Amirsham.

Datuk Amirsham also said that Maybank has opted to provide separate internet banking channels for enterprise and retail customers to cater to the specific needs of the respective customers.

Datuk Azlan Zainol meanwhile said that the EPF was continuously looking for ways to improve its level of service to its members.

“Living in a technologically advanced society, customers today are not willing to accept services that require long and tedious procedures. Customers want service at the touch of their fingers literally”, said Datuk Azlan.

“The objective of this online service is to provide an alternative for employers to pay their EPF contributions at their convenience through the Internet, using their own PCs, without having to leave the office or their jobs at hand. Effective today, all employers registered with the EPF and who are also customers of Maybank can make their employee contributions via Maybank2^e.net and Maybank2u.com.The service is free of charge”, said Datuk Azlan.

Datuk Azlan also said that the collaboration with Maybank brings the total to three local banks currently offering on-line EPF payment facilities. He added that EPF will also seek collaboration with other banks in future to offer this mode of payment.

For more information on the online EPF payment, customers and the public can log on to Maybank’s website at www.maybank2e.net.my, www.maybank2u.com and EPF’s website at www.kwsp.gov.my.