AirAsia-backed BigPay has launched a new campaign which provides 1% cash back when you shop overseas across Asia. However, to unlock the 1% cash rebate promo, BigPay cardholders are required to save and maintain a deposit of RM1,000 in stashes.
The new “Save to Travel Stash” option in BigPay is described as a Save-Now-Spend-Later product. According to BigPay, the new feature is aimed at helping users save money for their dream holiday and to empower them to spend responsibly and sustainably.
To sweeten the deal, BigPay is also having a raffle draw contest where selected winners for each month will receive a getaway voucher for a trip to the winner’s destination of choice within Asia. Participants can gain one raffle entry for every RM1 deposited to the “Save to Travel” stash or complete a transaction within the AirAsia Move app using a BigPay linked wallet.
According to the T&C, the selected winner will receive a flight and hotel voucher redeemable via the AirAsia website or AirAsia move app valued at RM2,000, valid for destinations within Asia only. BigPay will select a total of 3 winners randomly with one winner drawn and announced monthly on 9th August, 9th September and 9th October 2024.
How to unlock 1% Cash Rebate on BigPay?
To get started, just launch the BigPay app which is available on the Apple App Store and Google Play Store. Once you’re logged in, just tap on stashes (swipe the top panel to the left) and you’ll find a new “Save to Travel”.
To enjoy the 1% cash rebate, you need to deposit and maintain a minimum of RM1,000 for at least 30 days. The minimum stash balance is calculated based on the average daily balance held for the past 30 days.
In an example provided in their T&C, if a user deposit RM900 into their Save to Travel Stash on the 1st day and then adds RM600 on the 26th day, the average balance is calculated as (RM900 x 25) + (RM1,500 x 5) = RM30,000, divided by 30 days, which is equivalent to RM1,000 per day.
To help you achieve your “Save to Travel” goal faster, you can enable “round-ups” to round up your nearest whole ringgit amount and keep the spare change in your stash. You can even enable Booster to help you reach your goal faster. In addition, you can also schedule transfers on a weekly or monthly basis.
Unlike current digital banks or some eWallet offerings, you won’t earn interest or profit for keeping money in BigPay Stashes.
Where to enjoy BigPay Cash Rebates?
Once you’re eligible after fulfilling the campaign criteria, you can start enjoying 1% cash rebate for both BigPay physical card transactions within Asia (excluding Malaysia) as well as DuitNow cross-border QR payments within Singapore, Indonesia, Thailand and China.
However, take note that each participant is only entitled to a maximum of RM20 cash rebate per transaction and a maximum of RM100 cash rebate throughout the campaign period.
The cash rebate will be credited directly to your BigPay account on or before the 15th of the succeeding month. The cash rebate will be calculated on the final settled amount after deducting the applicable cross-border transaction and currency conversion fees.
The 1% cash rebate doesn’t cover card or duit now transactions within Malaysia, outside of Asia, transactions marked within the professional services, financial services and top-ups for banks or eWallets. The cash rebate doesn’t cover ATM withdrawals, DuitNow transfers, DuitNow P2P, virtual card transactions online BigPay physical card or card not present transactions, and other transactions conducted within the BigPay app.
This Save to Travel Rebate promo is only valid from 1st July 2024 until 30th September 2024. It is only open to Malaysians or foreigners residing in Malaysia aged 18 years old and above.
For more info, you can check out the BigPay Save to Travel Stash Promotion page.
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