the qr code can be used to transfer money to another person but not merchant (if u consider this as ewallet then ok). maybe in the future but as far as i know, no merchants on BP yet.

Yesterday, we only had 2 failed top ups out of ALL OF OUR USERS. Haha. Probably makes me happier than you, but it's a big step forward for us and frees up everyone's time to work on other things.

Has anyone done a comparison between spending the money loaded into BigPay vs withdrawing it out from ATMs?

ie. is it better to spend it on something you need to buy instead using another credit card or is it better to withdraw?

Do note that there's RM 6 withdrawal fee.

I only topup what I need to use into my Bigpay. Don't forget that with Bigpay, I am indirectly getting cashback 7 days a week on all transaction vs restricting myself to only certain type of transaction and transaction on certain days only.

im not sure but normally when u freeze ur card when your card lost or suspect someone using ur card/acc, therefore they will keep monitor until you unfreeze as if someone using your card during freezing period will be a fraud case. this will also let them look more into your previous transaction as well. normally i just let it be rather than freeze unfreeze so frequently. this function only meant for those who has lost their card.

no matter how, Amex is a much better choice, especially if u know how to use the point, unless Amex not accepted

If someone has been banned without BigPay calling that person in advance and asking for clarifications, I invite that person to get in touch directly with me

To be fair to BP, most businesses / banks do not have black and white terms for cases of "suspicious behavior" / "abuse" etc.  It is at their discretion to terminate the relationship with the customer. Provided there has been attempts to communicate / investigate with the customer and, where a ban is imposed, money is refunded within a reasonable time frame, I don't see what grounds we have to complain?

For example banks typically block cards / transactions when they "suspect" fraud, even though it may be a very normal transaction to us.  Similarly, we may meet all the minimum requirements to apply for a CC, but may be rejected (with no reason given).  There are so many cases where overseas transactions are blocked while we're paying for legitimate expenses, and it is inconvenient and costly for us to call the bank and unblock the card.......... But that is the bank's decision, and they do not have to give a list of reasons why the transaction was blocked.

Practically, if BP puts prescribed limits on withdrawals, I'm sure there will be a whole flood of complaints from people who will say that their money is stuck in BP (e.g. if they topped up but couldn't pay for something, then wanted to withdraw cash) bla bla bla and lots of threats of complaining to BNM etc. This is the human nature.  There will always be cause for complaints.

I am personally happy with the RM10k limit and the ability to withdraw. Of course, if I suddenly get banned (for withdrawing in what I believe to be "in moderation") then I may be singing a very different tune.

People expect me to give a black & white answer, with clear amounts and frequency, when there aren't two cases that are the same. Things might look similar from a back-end perspective, but then the reality would be completely different.

Imagine if you had friends from overseas visiting you in Malaysia, and one of their kids had a sudden health emergency. Some hospitals won't even treat you unless you pay money upfront, and that can be quite a lot. Insurance will reimburse, but not put money upfront. In order to save some dough, you guys decide that they're going to use their home credit card to top up your BigPay and that you're going to take out the cash at a local ATM. After calculations, it's still a lot cheaper than paying for foreign exchange and mark-up fees and ATM fees...

For a few days in a row, you might have high amounts being topped up from a CC that doesn't even belong to the BigPay account owner with immediate ATM withdrawals. On paper, could that look like a stolen CC being used to take out cash? Potentially.

But the reality is different. That's why our team will always call you first if there's anything that might trigger our system.

It's not that I'm avoiding the topic. It's just that there's no clear-cut answer.

don't think you should call anyone kiasu, because essentially it's not their own BP account. they don't lose anything if you get yourself banned for whatever reasons.

I take the approach of "when I'll be banned" as opposed to "if I'll be banned for X", so I'll hit all my cards as hard as possible. What we're doing is not sustainable for a money-losing fintech startup. Eventually, BigPay will most likely raise their credit card reload fees to cover interexchange with a slight profit margin, which would cut into our earnings, or limit the credit card load limit to RM1,500 (or a combination of both). There are a handful of people who are clearly doing this with 5+ cards based on their posts, and even more aficionados doing it that don't frequent this forum.
BigPay is the first loophole that I've ever encountered that had such a low barrier to entry. This introduced the concept of credit card abuse to the masses. They have never encountered a hard ban from either the provider of the loophole or the credit card issuer, so they obviously think that they can do what they can within the limits. There's always something in the T&Cs that specify they can suspend your card for some reason. In this case, either for BigPay or credit cards for cashback abuse.
From my experience, I believe the likelihood of being banned is as follows (from highest to lowest)

1. BigPay
2. The credit card
3. The bank account you're depositing to

Point 3 is not a problem if you're smart about it, though.

Actually BP is monitoring something that credit card bank should do but since credit card bank didn't care so much as long as we are getting the CB within the limit they have set, i don't know why BP still wanna set their own limit while they already charged RM6 and RM10 for local and overseas withdrawal.

Yes, but what Jonathan said is scared we reload others credit card to our BP acc...

agree, some people dont know how to appreciate good thing. same like the free entry PPL, abused like no tomorrow, now most banks retract back the features. Besides PPL lower their F&B standard to accommodate the crazy crowds in order to control their cost. I saw one aunty at PPL counter, taking out a name card holder booklet, inside like got 40 or 50 cards, telling the reception try this one try that one, why? because she bringing 7 quests along. WTH.

You are really troublesome.

Person A uses Person A's card

Person B uses Person B's card

Settled.

Why do you talk so much?

You still didn’t answer my question. Why do you need that for debit card?

For credit card posting date it to ensure it is captured in which statement month. Why do u need posting date for debit card? Why? Why???

want to ask experts using bigpay.. anyone tried using the card to churn airmiles? from what i read and understand, it can also be used as a way to hit minimum credit card spending for fee waiver (m2cp etc).

for ease of withdrawal, load maximum RM 9k to bigpay, using M2CP VI, spending RM 9k = about 4k miles. After loading, withdraw from ATM (RM 3k x 3) with fees of about RM 18. 1 year can get about 48k miles at cost of RM216 where the miles value is at least RM 1,920 (RM 0.04 / mile). At same time by pass the minimum spend for M2CP.

Even more interesting is if using MBB Diamante VI which earns 5x points on any spending...

GST refund money should go into trust account/fund too but what happened

My wish list is they implement cash back (2-5%) for swiping BP card like the banks.

In effect, they are earning more money from me by using my unused balance, than bank's late payments charges and grace periods to merchants.

Yes, we'll give the option for people to not get the new card. But we'll also give the option for people to DISABLE the contactless functionality from their card - something no other bank provides.

Ok, let's take it that they cannot use the funds other than those specified in the ruling as per below.

http://www.bnm.gov.my/microsite/ps/gl_016_3.pdf

The funds may only be invested in high quality liquid ringgit
assets which are limited to deposits placed with licensed
institutions; debt securities issued or guaranteed by the
Federal Government and Bank Negara Malaysia; Cagamas
debt securities, and other instruments as may be specified
by the Bank;

I agree, now they cannot invest much. However, Airasia users themselves, in Q1 2018, is 10.6mil. Yes, they do charge admin fee to those using credit cards. But if you use their prepaid card to fly, they can immediately transfer the funds over. Airasia is a budget airline, who depends much on liquid cash. Wonder if everyone uses credit cards, and banks has credit terms.

Now, change back to Bigpay. If everybody uses their card to buy air tickets, cash inflow is immediate. Bigpay card is Airasia long-term investment, while they continue their growing business in hotels, telco, insurance and etc. That's why they issue prepaid cards. Generate cash inflow faster.