Ever tried sending money using your most comfortable digital banking applications? Perhaps you’ve once stumbled upon the dilemma of selecting whether you should be sending to a Maya Wallet or Maya Bank. Now that’s what this is gonna be all about. Should you send on Maya Wallet or Maya Bank? What exactly is the difference between the two?
Maya formerly PayMaya is a financial services app under Smart Communications. To reminisce a little, it’s actually a more digitized version for what we formerly known as Smart Padala and is made to go toe to toe with Globe’s GCash. As the competitor grew with more partnerships and releases new features one-by-one including their partnership with CIMB for becoming their digital banking arm, Maya tries to catch up and released Maya Bank.
Now based on that transition, just like where GCash has a GSave feature, Maya has a Maya Bank feature. So where to send your money? It still actually depends on where do you want your recipient to receive the money.
Maya Wallet
Select this if you want your recipient to receive the money on the digital wallet. This composes of their mobile number and/or username.
Maya Bank
Select this if you want your recipient to receive the money to their digital bank. This is similar to GSave/CIMB and account number is in a different format than a mobile number. This digital bank just like any if not all banks gains interest overtime depending on how long the money stayed on the account.
I hope this could help you better determine where to send your money in the long run. If you have any concerns or clarifications, don’t hesitate to comment your thoughts down below!
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