Here’s what you need to know about Maya Business Deposit clearing cut-off time for posting deposits and withdrawals
MAYA BUSINESS DEPOSIT – This article will teach you about the clearing cut-off time for posting deposits and withdrawals.
A fully digital deposit product for Maya Business clients, Maya Business Deposit simplifies money management for businesses of any size with a single account. You can receive sales revenues, disburse benefits and salaries to employees, earn an interest of 2.5% per annum, and transfer funds to any e-wallet or bank through PESONet or InstaPay.
Maya said that the earned interest will be credited to your account at the beginning of each month subject to applicable taxes.
All deposits and withdrawals are posted real-time via Maya Bank’s online platforms available 24/7. Also, transfers done through InstaPay will be posted in real-time.
Transfers made through PESONet, however, will follow a cut-off time where transfers made before 4:00 PM will be posted within the same business day and transfers made after 4:00 PM or on weekend or a holiday will be processed on the next business day.
But what is the clearing cut-off time for posting deposits and withdrawals?
| Transaction Time | Processed at |
| 12:01 AM – 10:00 AM | 10:00 AM same day |
| 10:01 AM – 4:00 PM | 4:00 PM same day |
| 4:01 PM -12:00 AM | 10:00 AM next business day |
| Weekends & holidays | 10:00 AM next business day |
When it comes to the interest rate of Business Deposit, your account can earn an interest of 2.5% per annum for end-of-day balances up to PHP 750,000,000.00, which is accrued daily but awarded on the first day of the succeeding month.
The changes on interest rates, however, will be announced by Maya Bank and will take effect immediately.
Thank you for visiting Newspapers.ph. You may express your reactions or thoughts in the comments section. Also, you may follow us on Facebook as well.
