If you’re a Maybank MAE user, you might have noticed that a certain amount is deducted from your account every month for road tax fund as part of their Car Takaful plan. But what if you prefer not to use Maybank MAE for your car insurance or road tax renewal? How can you stop these automatic deductions? Don’t worry; we’ve got you covered. Here are 7 easy steps to stop Maybank MAE from deducting your road tax fund:
What is Maybank MAE and Car Takaful?
Maybank MAE is a mobile app that offers various banking and financial services, including a MAE account that serves as your everyday spending account. It also provides a MAE card with benefits for international travel.
One of its features is Car Takaful, which is a comprehensive car insurance plan underwritten by Etiqa. Car Takaful covers third-party liability, car damage due to fire, theft, accidents, personal accidents, flood allowance, and more. It also offers cash rebates with the Drive Less Save More feature and 24/7 emergency roadside assistance. You can sign up or renew Car Takaful and renew your road tax online via Maybank MAE for added convenience.
How to Stop Maybank MAE from Deducting Your Road Tax Fund?
If you’d rather not use Maybank MAE for car insurance or road tax renewal, follow these steps to prevent the automatic deductions:
Step 1: Log in to your Maybank MAE app or website
Access your Maybank MAE app or visit the Maybank MAE website and log in using your username and password.
Step 2: Access the Car Takaful section
On the app, tap the More icon at the bottom right corner and select Car Takaful. On the website, click the Insurance tab and choose Car Takaful.
Step 3: Review your policy details
You’ll find a list of your car policies under “My Policies.” Select the policy you wish to stop deductions for.
Step 4: Cancel your policy
Within the policy details, you’ll see information like the policy number, expiry date, premium amount, NCD, and road tax fund. Scroll to the bottom and click the “Cancel Policy” button.
Step 5: Confirm your cancellation
A confirmation screen will appear, asking you to verify your cancellation request. Click the “Confirm” button to proceed.
Step 6: Receive your cancellation confirmation
You’ll receive a confirmation screen indicating that your cancellation request has been successfully submitted. Additionally, you’ll get an email and SMS notification containing your cancellation reference number.
Step 7: Check your account balance
You can verify your account balance through the app or website to confirm if the road tax fund has been refunded. Allow up to 14 working days for the refund to be processed.
And there you have it! You’ve effectively stopped Maybank MAE from deducting your road tax fund from your account. Now, you can explore alternative methods to renew your car insurance or road tax, whether online or offline.