E-wallets are becoming more and more common in Malaysia and I’m sure you have at least 1 e-wallet account. So do you know which e-wallet platforms support withdrawals to bank accounts? Here’s a quick look.
1. BigPay
To withdraw money from BigPay to your bank account, there are 2 ways for users to do so. The first method is to transfer funds directly via DuitNow Transfer, while the second method is to use Local Bank Transfer; with DuitNow Transfer, you can receive the funds immediately at your bank, while with Local Bank Transfer, it takes up to 1 working day to receive the funds.
You can find the DuitNow Transfer and Local Bank Transfer functions by opening BigPay and going to the Payment section.
It is worth mentioning that BigPay supports users to top up their credit card with RM1,000 per month, over RM1,000 will be charged a fee.
2. Touch ‘n Go eWallet
Touch ‘n Go eWallet supports two ways to withdraw money, the first way is through the GO+ withdrawal function and the second way is through the eWallet’s DuitNow Transfer function.
If you want to withdraw via the GO+ withdrawal function, it will take 1 working day for you to receive your payment. If you want to use the DuitNow Transfer function of eWallet, you will receive the money immediately at the bank.
However, it is important to note that the Touch ‘n Go eWallet has started to split the balance in the eWallet into transferable and non-transferable amounts. Payments made from credit cards to the eWallet will be classified as non-transferable.
According to the TNG website, a maximum of RM5,000 per user per month from credit cards will be classified as transferable and any amount above RM5,000 will be classified as non-transferable.
3. Boost
Boost eWallet also supports DuitNow transfers. Users can open the Boost eWallet and go to the Transfer function. You can then transfer money to your bank account using DuitNow.
However, it is important to note that Boost only supports transfers to recipients with a mobile phone number as their DuitNow number. If your DuitNow number is not your mobile phone number, then you will not be able to transfer money from Boost to your bank. Users can also only transfer to other people, not to the mobile phone number they used to register with Boost.
4. Lazada Wallet
Lazada Wallet also supports transfers to banks. Users can only withdraw twice a month and the minimum withdrawal amount is RM20 per withdrawal and the maximum withdrawal amount is RM1,000, with a maximum withdrawal of RM1,000 per month.
When making a withdrawal request, users must ensure that the bank account details provided are in the same name as Lazada Wallet.
To withdraw from Lazada Wallet to your bank account, you can go to Lazada Wallet and select Withdraw.
5. ShopeePay
To withdraw money from ShopeePay to your bank, you can open ShopeePay and select Withdrawal, add your bank account details if you haven’t already done so and you will receive your money within 3 working days.
However, it is important to note that ShopeePay will block those users who swipe credit card points. If you often add credit from your credit card and then withdraw from ShopeePay, then your ShopeePay account may be blocked.
