Foreign exchange transactions via the M2U ID App offer competitive rates

16 September 2025

What is Foreign Exchange (Forex)?

Foreign exchange, or forex, is the currency of a country that is used in cross-border transactions, whether for international trade, investment, travel, or other needs. For example, when someone in Indonesia wants to buy a product from the United States, the payment will use USD as the medium of exchange. Conversely, when foreign tourists come to Indonesia, they will exchange their currency for Rupiah in order to make transactions. This is why foreign exchange plays a vital role in supporting global economic activity, and the need for fast and secure foreign exchange transaction services is increasing.

The Need for Foreign Exchange in the Global Era

In the era of globalization, the need for foreign exchange has become an important part of everyday life. From personal to business needs, foreign exchange transactions are the solution to the challenges of cross-border mobility. Parents who finance their children's education abroad, tourists who travel internationally, and business people who import goods or services all need foreign exchange.

Foreign exchange also serves to maintain the stability of asset values against exchange rate fluctuations. Foreign exchange is not only a practical necessity, but also part of a financial management strategy.

Given the high demand for foreign exchange, banks play a very important role. Banks not only serve as currency exchange outlets, but also as providers of practical, fast, and transparent foreign exchange transaction services. With the development of technology, customers can now buy and sell foreign exchange without having to visit a branch office. Understanding this need, Maybank Indonesia, through the M2U ID App (mobile banking), offers a foreign exchange transaction feature.

What are the main requirements for foreign exchange transactions via the M2U ID App?

To utilize the foreign exchange transaction service on the M2U ID App, customers must have a Maybank Super Foreign Exchange Savings Account. This savings product is specifically designed to support foreign currency transactions.

By having a foreign exchange savings account, customers can save and manage their balances in their chosen currency, making the process of buying and selling foreign exchange more practical. This product is suitable for personal and business needs, whether for travel, education, or export-import activities.

Foreign exchange transaction feature on the M2U ID App

The foreign exchange transaction feature on the M2U ID App allows customers to buy and sell foreign currencies in real time at competitive rates. Customers can conduct foreign exchange transactions simply by using their mobile phones, without the hassle of visiting a branch office.

To use this feature, customers must first open a Maybank Super Foreign Currency Savings Account. This account serves as a deposit account for the foreign currency of their choice. Once the account is active, foreign exchange transactions can be made directly on the M2U ID App.

Available Currencies

With Maybank Super Foreign Currency Savings, customers can choose from the following popular currencies:

• Maybank Super Foreign Currency Savings (Conventional): USD (US Dollar), SGD (Singapore Dollar), EUR (Euro), AUD (Australian Dollar), JPY (Japanese Yen), and CNY (Chinese Yuan).
• Maybank Super Foreign Currency Savings iB (Sharia): USD (US Dollar).

With these currency options available, customers can tailor their needs, whether for travel, education, or international business.

Advantages of Foreign Exchange Transactions on the M2U ID App

Maybank offers a number of advantages that make foreign exchange transactions through the M2U ID App more attractive:

1. Competitive Exchange Rates

   Customers get competitive exchange rates, which are more profitable, especially for those who transact in large amounts.

2. Real-Time Exchange Rate Updates

   Foreign currency exchange rates are dynamic. The M2U ID App provides real-time updates, helping customers determine the best time to make transactions.

3. No Administration Fees

   Foreign exchange transactions via the M2U ID App are not subject to additional administration fees, optimizing transaction value.

4. Large Transaction Limits

   Customers can make transactions of up to USD100,000 per month. This limit provides more flexibility for those who are active in international transactions.

5. Efficiency, Transparency, and Mobility

   Another advantage of this service is transparency. The exchange rates displayed on the M2U ID App can be monitored at any time. Everything can be done directly from a mobile phone without having to go to a branch office, making transactions much more efficient.

How to trade foreign exchange via the M2U ID App?

Once you have a Maybank Super Foreign Exchange Savings Account, follow these steps to trade foreign exchange via the M2U ID App:

1. On the M2U ID App display page, tap the menu icon at the top left.

2. On the menu page, tap the Foreign Exchange Rates option.

3. Tap the yellow round button with three dots.

4. Select the ‘Own Account’ option.

5. Select the Source Account.

6. Select the Transfer Destination Account

7. Enter the Transaction Amount

8. Check the transaction information and fill in the Message if needed**

   **If the transaction amount is below the equivalent of USD10,000, it is a Cross Currency transaction, or a Foreign Currency transaction, and the Customer is a foreign national, then the Customer is required to fill out the Foreign Exchange Transaction Form (LLD). If not, proceed to step 10.

9. A. If the transaction is conducted by a foreign national, is a cross-currency transaction, and the nominal value exceeds the equivalent of USD 10,000, M2U will display the LLD (Foreign Exchange Transaction) form.

   B. In the Sender Status option, select the “Sender is identical with Receiver” option.

   C. In the Recipient Nationality option, select the option according to the recipient's nationality.

   D. In the Recipient Category option, select “Individual” – Because the recipient is an individual (natural person), other than natural persons can select other options.

   E. In the Relationship with Sender option, select “Non-Affiliated”.

   F. In the Transaction Purpose Category, select the Capital/Financial Transaction option.

   G. In the Description, select the Savings in Indonesia option – Savings deposits of more than 3 to 6 months.

   H. Fill in the transaction details in the Transaction Details field (max. 40 characters).

10. Review the transaction on the Transaction Confirmation page.

11. Transaction Successful.

Open your Maybank Super Foreign Currency Savings Account now and enjoy easy foreign currency transactions via the M2U ID App. Experience more efficient foreign currency trading with Maybank Indonesia!