I disagree with the term abuse. Just because a lot of ppl use certain features of a product, doesn't equate to abuse!

Whenever ppl withdraw money, they also pay a fee even though money transfer nowadays is actually INSTANT and FREE. The limit was only RM3k per month. What happen if you accidentally top-up too much and need cash? How? Money stuck there.

It's my money. If I put it there, I should be able to get it back.

---------------

to draw another example: banks earn interests whenever you have late payment after 30 days grace period. A lot of ppl pay on time and banks don't earn any interest. Would anyone consider that as an abuse? No .... it's just a credit card feature!! Of course, the banks could start charging interests on CC from day one, and charge even more interests if you don't settle all after 30 days. Banks could do that, but they didn't.

I think if I were boost, not allowing others to cash-out is best for the company. Keep hogging their cash and earn interest on it. As long as you have balance in it, they AT LEAST earn interests on your balance. And some ppl might forget they still have balance in their e-wallet, so good for Boost. Some ppl have a little balance like less than RM10, hard to use without topping up. So, Boost can also absorb this unclaimed balance.

All in all, this move only benefits Boost!
but they managed to paraphrase it to ".....so that you don't fall victims to scams...."

So it doesn't make sense for boost to stop withdrawal if preventing cb abuse is the reason.

There should be a limit for boost. You can't transfer rm10k, for example.

You can, but the charges are high. Boost is lower.

well, the thing abt that in this case is
they don't care abt the late payment fee or interest at all and that they're not even gonna pay for the CC bill

because if they're going to pay for it, they're not gonna do it this way from the beginning because they know the risk and the payment

they shut down the feature based on order from BNM i guess, when BNM is watching u..u better becareful already

How much did boost charge for withdrawal vs cc advance?

And if it's free money as you said "tak bayar cc", the difference is immaterial, right?

So, the next "order" from BNM is to ban cc cash advance via atm, since they're not going to pay anyway?

i want to know what is the limit for CC cash advance via atm is..because in this case for boost is RM1k-RM5k

because i've used card to withdraw before but that was a long time ago, i can't choose amount...all that came out is RM200

BigPay can do this no problem.

You can save a bit of money than doing direct withdrawal from CC.

Noon wallet

change edi la.
no more 1200.
i think max 200 per transaction.

Then that is between the bank and the customer. No need for boost to care. Customer don't pay ctos/ccris him. Worst case pursue legal option on the customer. Boost not affected.

cc cash advance is 5% of total (min rm50). interest start count 15% on day 1

vs

boost (charge dunno). no interest rate as bank consider normal retail spend (so u get 20 days free)

depends bank.

i got 2 banks can withdraw 100% of limit, 1 bank 80%, another max RM1500 only.

Use your brain and top up only the needed amount.
If not , refrain from using the app.
No one forces you to use Boost app.
If you don’t like their terms and conditions, close down the account and take back your money.

They are bound by BNM rules to return your money when you close your account but they have no obligation to allow you to open an account with them again.

This post has been edited by powerlinkers: May 18 2020, 02:29 PM

TQ for the information.

Anyway it's still immaterial because the argument put forth is people who withdraw via boost have no intention to repay the bank.

My point is, if abusing cb or interest from withdrawal is the reason for boost to stop, it does not make sense because it's the bank that loses, not boost.

Deleted

This post has been edited by john123x: May 18 2020, 02:30 PM

boost stop is different reason i believe.

not paying is bank issue.

cashback is bank rugi so also bank issue and it was banks that stopped to give cashback.

i bet u will continue to use it, so complain also no use, just live with it

That's what I think too. Deswai it's baffling when someone wrote it's to stem the abuse when ppl withdraw money.

already a lot gotten cash back liao

wow, the taiko who abused kaw kaw and always bragged about it dah masuk comment