20 Apr - 2 min read
Boost e-wallet users will soon enjoy larger wallet limits for both the basic and premium versions as well as some changes to the e-wallet’s features. Users can now look forward to larger wallet sizes as well as transaction limits, but the bank withdrawal feature will soon be removed.
The update will affect both Basic and Premium wallet users, where the biggest change will be to the wallet size. Basic wallet size is now set at RM1,000, while Premium wallet size will see a jump to RM4,999. Monthly transaction limits will also increase accordingly, with Basic wallet being RM2,000, and Premium wallets just 10% higher at RM4,999.
On top of that, there are a few minor tweaks in terms of P2P transfers as well as the withdraw-to-bank feature. For Basic wallet users, P2P transfers will be removed. Meanwhile, starting 18 May 2020, the withdraw-to-bank feature will be disabled permanently – about one and a half months after reducing the withdrawal limit to RM200 per transaction (from RM1,498 previously).
The table below summarises the upcoming changes:
|Wallet Type||Basic (New)||Basic (Current)||Premium (New)||Premium (Current)|
|Monthly Transaction Limit||RM2,000||RM1,000||RM4,999||RM4,500|
|Annual Transaction Limit||RM24,000||RM12,000||RM59,999||RM54,000|
|P2P Transfer||Yes, up to RM100/month||No||Yes, amount TBC||Yes, up to RM4,500/month|
|Withdraw To Bank||No||No||No (effective 18 May 2020)||Yes, up to RM1,498/trx|
Interestingly, Boost is also tightening its stance on users who own multiple Boost accounts. In its early days, Boost allowed for multiple Premium accounts to be verified with a single IC number (as long as they are using different phone numbers). This has since been suspended, but with the coming update it looks like Boost is looking to purge these multiple accounts. In the latest app update description, one of the two highlighted updates reads “Premium users will only be able to have one premium account if you’ve multiple accounts currently”.
For now, Boost hasn’t looked to have pushed the new update to users yet (even in the latest build of the app), but now that the announcement has been made, it appears to only be a matter of time.
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