ShopeePay Malaysia To Discontinue Withdrawal To Bank Account Feature

Aside from payments, another well-known ShopeePay feature is the ability to withdraw the wallet’s balance directly to one’s bank account. Available only to ShopeePay Premium accounts which users can obtain by verifying their MyKad, the withdrawal process does not happen instantly though as it takes around one to three working days for the transfer to be completed.

, ShopeePay’s withdrawal feature will disappear from its app on 14 October 2022. Hence, you generally have around eight days from now to move funds from your ShopeePay wallet to your bank account.Interesting enough, Shopee Malaysia is removing the feature due to security concerns. Specifically, the company noted in the FAQ that this move is meant to reduce the risks of money being transferred to unauthorized accounts.

While we have no knowledge if ShopeePay has encountered any incidents of such nature, unauthorized fund transfers have indeed become a hot topic among consumers recently. This is to the extent thatHowever, the removal of the withdrawal option does not mean ShopeePay has completely lost its ability to transfer money though.

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