Shopee changes the terms and fees of SPayLater!
According to the Shopee SPayLater website, late payment of bills will no longer be subject to the 1.5% fee, the SPayLater account of the concerned user will only be frozen and the user will have to pay RM10 fee to unfreeze the account.
Previously, an additional monthly fee of 1.25% was levied when using SPayLater’s installments, but the new terms and conditions increase the additional fee to 1.50% for installments. Those who use single monthly installments will not have to pay any fees.
Before using SPayLater, you must first understand 2 dates, namely Billing Date and Due Date. The Billing Date is the date Shopee issues the bill, and the Due Date is the date by which the user must pay the bill or be charged an additional 1.5% per month.
The billing date for old users is the 1st of each month, and the cut-off date is the 10th of each month. For new customers, the bill date will be the 21st of each month and the due date will be the 1st of each month.
For example, the July bill will be sent out on July 21 and the cut-off date for this bill is August 1.
