Shopee Malaysia To Remove The Withdrawal Option From ShopeePay | JP
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It is reported that Shopee Malaysia has announced through its FAQ that users will no longer be able to make withdrawals using ShopeePay within the app in the upcoming days.
Users often use ShopeePay for making payments, but it also allows them to transfer their wallet balance to their bank account. ShopeePay Premium accounts on the other hand, which customers can earn by authenticating their MyKad, are the only ones eligible for instant withdrawals, but the process still takes one to three business days.
The date of removal is set on October 14, 2022. It’s unclear exactly what the real reason behind the removal is, but it seems to have something to do with stopping fraudsters from stealing money from Shopee customers. Shopee explained that the alteration is made due to security concerns to decrease the risks of money transfers to unauthorised accounts
Although there is no reported news in regard to scamming activities that happen within the e-commerce giant, Shopee might have taken a safe measurement to prevent it from ever occurring.
However, the removal of the withdrawal option does not imply that ShopeePay’s functionality to transfer money has been fully lost. The DuitNow Transfer option is still available, allowing customers to transfer funds from their ShopeePay wallet to other Malaysian banks and e-wallets.