In case you missed it, there was a new announcement made on the Setel app yesterday. If you go to your inbox, you will read that there will be a 1% convenience fee going live soon.
To be specific, the 1% convenience fee will apply starting on 5 December 2024 when you top-up with your credit card (except auto top-up). The 1% convenience fee will not be refundable as well but no worries, since this is just for credit cards, other top-up methods are still free.
Other top-up methods such as online banking, eWallet and debit cards will not charge any convenience fees. That being said, Setel has joined other companies that have implemented convenience fees. For example, Boost revamped the convenience fee rate for Boost eWallet users using credit cards.
Grab also did the same thing on its GrabPay Wallet, whereby Grab users are charged a 1% fee by topping up with a credit card (excluding a Maybank co-branded credit card). Touch 'n Go eWallet also added a 1% overseas transaction conversion fee to the daily exchange rate of your travel destination.
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