Why not you go and register a business and register a credit card machine yourself and swipe all the cards?

It was boring for BP in the past few months, now even more boring with Banks slowly removing credit card benefits of top up.
You guys raged war with them, now they replied.

One of the most prominent feature of BP, is the overseas zero transaction cost. But if we top up to BP and get nothing from credit card, then there's not much savings compared to using credit card overseas (at least to me). I would rather pay like 2% credit card forex but get points in return (also depends how much you value the points/cash back)

It really depends on individual, I think cannot conclude which is better, as for me, definitely CC points is more valuable, I'm ok with 2% charges.
1) E-wallet with cashback, yes they're bleeding money and not sustainable for long term, but that's what startup will do, capture market share, dominate the market, and lose money for first few years. They are many real-life examples

2) BP on local transactions - if we use BP, we get nothing other than miserable BP points (guess you know how much the BP points awarded worth). But if we use credit card, we get rebates/cash back/points.

3) BP on foreign transactions - as I highlighted earlier, I used to save forex from BP, while not sacrificing on my CC points. But now, I've to choose between paying 2% CC charges in return for points or use BP, save the 2% but get nothing. For me, I'll choose to use CC, moreover, I still trust CC in all sort of fraud/scam protection. Also, I don't encounter like missing records in my card statement like in BP.

I'm not saying my decision represent everyone, I do believe many still enjoy BP with no forex fee.

I'm highlighting above not blaming on BP fault, as you can't control the bank's decision. What I'm saying is, BP definitely is a lot less attractive after the decisions by few banks to remove all sort of points/CB for top up. I honestly still can't see how BP stand out now.

I'm also highlighting that BP should realise where you stand, and not too confident of your "dominance". We thank you for having this, I guess so many of us enjoy BP for so long, but it slowly will prove otherwise

In actual fact maybe BP might not fall under e-wallet, but I guess banks will be very happy to include it into this category, and I can't find any reason why they will be so kind to BP. After all, their move is quite obvious

Don't know where you get such low MDR. Small businesses all payment gateway charges above 2%

A quick Google already reveal the MDR is 2.7% for CC.

Atm withdraw at Iceland KEF airport, atm charge 260 isk.

BTW, cash is really unnecessary in Iceland.

basically, mostly member who following this thread or MBB CC thread would already knew the change of TnC but still ambiguous on the MCC code of BP whether affected.

the post #01 list will be updated once MBB CC users reported the concrete confirmation of no CB / treatpoints received in coming statement.

I have pressed for the CS to provide me with a list, and this is the official list which will be excluded from receiving TP/MR/Cashback.

For now they have identified these as E-wallets.

GrabPay Network Sdn Bhd

TNG Digital Sdn Bhd

Alipay (Lazada Wallet Topup)

Measat - Astro Pay

Boost - Axiata Digital

BIGPAY

It was mentioned that they will from time to time add to this list, this is accurate as of now (as of 20th June 2019).

Mainly bank looks into these 2 things.

Too much spending on BP(or whatever on cc) will get you into bad score as your outstanding shown in ccris has huge amount.

Other than housing loan, other big outstanding amount will make a bad credit score.

U may need to go n check back. CCRIS DOES show your outstanding balance that you spend.

My understanding is CCRIS is used to
1) see whether you are a good paymastwr
2) see how much debt you have (outstanding balance) vs your income
3) see how much potential debt you have (credit limit) vs your income

in the past if i want to get a card, I call existing banks to reduce credit limit

Credit limit is not unlimited. It's a representation of how much the bank would risk loaning to you at any one time.

So for someone with 100k income, perhaps bank Z feels can only loan them total 200k. But they already have 185k credit limit from other banks/cards. Even if their outstanding balance is 0, bank will not give the card.

Source - multiple failed CC applications until I cancelled the Citibank card that had unreasonably high credit limit (and zero utilisation).

Bank will determine max credit limit from total income. Then they will decide how much they want to give based on application.

Hi guys, is it confirmed that withdrawals in ANZ ATM (Australia) don't have fee apart from RM10 BP fee?

going thailand this weekend - gonna spend with my BigPay again hope rate is good. anybody know what is the thai exchange rate at BP now? how to check?

Money changer: 13.575 for 100 baht.

Heading to Thailand next week also. At first I though of swiping there for most items with BP, then I saw how MYR is dropping. Ditch the BP idea and changed real hard cash 2 months ago at money changer.

Changed 20k baht at 12.97. Compare if I go there and use BP, I need to fork out RM 120. So sometime, BP is not the best idea

Biggest regret - didn't change more

I checked this site to compare three recent transactions I made in Euro, two were exactly same rate while another one has very slight difference, just RM 1 for RM 1090. However, this transaction was settled later than the other two transactions. Does this make any effect?

Regardless, BP never fails to make me happy with super good forex rate. Gonna load in some money for my Euro trip in 2 weeks time, at least I don't need to change so much of Euro from Malaysia and then exchange from Euro to Hungarian Forint/Czech Koruna.

I don't do withdrawal.
I spend my money in BP though sometimes I wish I have more than one BP. Sometimes monthly 10k is not enough for me to spend.

I know forex relatively well. I do trade. But with BP, I can’t lock in the rate at a particular time. I’m not saying that BP doesn’t have good rates, it’s does. But I’m trying to say not 100% of the time BP will be the best solution.

That’s why if BP can hold foreign currency (like YouTrip), then it’ll be so much greater travel card especially with their great rates.

i still think the reasons (may)banks are springing into action is because of the cycle of (fake) transaction is bad for the numbers / economy. Imagine cards are seeing XXXmillion transactions but none go into the greater economy as it goes back the bank account / card settlement - fees -cashback/loyalty points/air miles. Banks can't even book revenue for the supposedly cash advance transactions.

who knows.. big brother might be the one pushing in the background but not touching the "feature set" of e-wallets so that they don't look like they are crimping on "innovation"

i am still using BP not for this circle of debt but solely to absorb unused online cashback entitlements,  to be used on transactions that don't normally qualify (retail spending etc.) or large ticket item that normally will max a single month. I personally dislike point cards now after being burned by Maybank's regular "depreciation" policy

while (some) do not game the system to the max like other (ab)users, can't deny the few are impacting the benefits for the rest of us - and then they come here to rant 

No. That would not be effective. They need to encourage people to use BP and not deter them. Free top up, but charge them if they want to take out the money from BP. It's a win for BP because the money would be stuck in the ecosystem and people really use BP instead of just the gateway/intermediary of getting cash back from CC.

I've been a long advocate of that. Top up for use BP as normal instead of withdrawing. This abuse also cause the CC companies to pull back cash back because since everyone is topping up and withdraw, how la bank going to sustain.

What they can do is charge maybe like 1% or more if you want to withdraw/transfer to your bank account while offering great rates for TT to foreign account/swipe in foreign currency.

The goal of BigPay is to be a worthy competitor to bank.

If there's transfer fee/premium of let say 1% to other bank, that would not be possible for them to be a Digital Bank. That  would only make them at most a prepaid card.

Agree that they would want people to keep the money in them but instead of a transfer premium, they should apply interest of some sort to encourage people to transfer in/keep the money in it.

Charging extra for foreign transfer I would not complain but local transfer would be a big no no for me.

Some oversea digital bank/multi currency prepaid card (cant recall which one at the moment) have a fee for CC topup but not for online banking/debit card. I think this is a good way to deter people from topping up via CC then withdrawing.

The usecase you are describing is perfect for prepaid card. But again... Their goal is to be a digital bank like Revolut/Monzo in europe or WeBank in China. They are not going to stay being just a prepaid card. Thus they need bank transfer to make it a "Digital Bank"

Was thinking of applying for Bigpay due to overseas trip. But isn't it dangerous to have a few $k in bigpay as I read of sjz and others Bigpay fraud? Do others really keep a few $k in bigpay when they travel overseas?

Wow thanks for all the advise and replies regarding cc insurance coverage and travel insurances... that is good info to ensure one is well covered when traveling!

Anyone here used BigPay in Greece before? How's the acceptance rate?

Any issues using the card there?

But my ic and bank account contains @.

Just in case that if BP want to match the name exactly

My parents name have abc @ xyz. When I write cheque to them, I write either abc or xyz will do. No issue.