To facilitate an easier business transaction experience for high-performing entrepreneurs, Boost has announced that their Merchant B2B wallet is now running a new maximum limit of RM500,000.
Coming from the main 2 types of account which are Individual and Merchant, the existing RM30,000 limit for the latter is still imposed after the changes because, at the time, users who apply for the Merchant status uses personal ICs as verification. As such, the new RM500,000 limit is given to those who own a legitimate Business Registration Number so if you do own one, be sure to apply for it to prevent fund capping in case you did really well in your sales.
Aside from that, the new Instant Settlement and Payment feature have been added which deals with all sorts of transactions immediately rather than requiring them to float for a day or two which is especially useful for businesses that need to update their liquidity status, not to mention one can instantly clear out things like utility bills and supplier invoices directly with the Boost Biz app. Funding withdrawals are responded to as fast as the next business day.
Interested to provide Boost as a payment option for your customers? Then click here to learn how to register as a Boost merchant.
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