QUOTE(chlee87 @ Jul 26 2018, 03:10 AM)
limit 10k per month is not the real problem,the real problem is when major bank stop giving cash back by reloading big pay.
i wonder any one here got received the call from big pay ask for statement and the card not kena suspend by big pay.
why bank stop giving cb for bigpay? because the nature of bigpay itself, likely because bigpay's ability to withdraw/convertible to cash.
banks/cb identification* looks for actual retail purchases/payments (to end-merchants), not to a different card which can convert to cash.
not all banks/cards are strict, but there are some cards in post #1 have no issue.
now, *identification itself can be few parameters: mode of payment and MCC (registered nature of business). some cards are lenient, e.g PBB, as long as detected as Online mode, it passes. some detected bigpay's MCC 6012 as Financial Insitution and disqualify it.
the one getting calls for statement, it's their policy to monitor bigpay's users and flagged internally; it doesnt mean full block enforcement needed. there is no complete set of rules/policies set by BNM to do just that. it's up to each provider to setup their own detection rules and policies adquately to satisfy BNM before rolling out ewallet to the public.
if many bigpay users complaining to BNM about its policies and enforcements, BNM would then spring into action against bigpay to justify their policies and provide recommendations to do it "better" <-- tighter? more rules? etc etc ... you see, BNM let the providers make their own additional rules for as long as it doesnt compromise BNM's basic guideline.
if you are a genuine bigpay user, normal reload and spending is within general parameters. but if you reload excessively and withdraw excessively without much activities with bigpay, you're giving bigpay a big red alert
pace your reloads, pace your withdrawal. dont be greedy la.
internally, bigpay also to manage its operational costs and fees to other related partners/banks for the bigpay facility they are using (e.g. cc reload, fpx reload, all these have underlying fees to manage and pay!). we end-users are paying zero fees (to-date) to bigpay!
well, any ewallet with withdrawal capability is a double-edged innovation vs rules & regulations.