As teased earlier, Boost Bank is now offering 2% cashback when you spend using their Boost Bank Debit Card. This cashback promo is offered only for the month of December and here’s everything you need to know.
Boost Bank offers 2% cashback for local and overseas spending
The 2% cashback for Boost Bank is currently running from 1st December until 31st December 2024. The cashback is applicable for online and physical debit card spending conducted both locally in Malaysia and overseas.
It is stated that the cashback amount will be calculated and rounded to the nearest two (decimal points) and to qualify, the cashback amount must be at least RM0.01. For example, if you spend RM1, you’ll receive RM0.02 in cashback, and if you spend RM100, you’ll receive RM2 in cashback.
What’s the catch for this 2% cashback promo?
Unlike GXBank’s unlimited cashback offer, take note that Boost Bank’s 2% cashback promo is capped at RM40 per user. It is stated that once your total cashback earned reaches RM40, no additional cashback will be rewarded for subsequent spending.
Take note that the cashback amount won’t be reflected instantly. Boost Bank states that the cashback will be credited to your Boost Bank Savings Account upon successful settlement of the relevant transactions which could take a few days for some exceptional cases.
The 2% cashback promo also has a total campaign limit of RM2 million in cashback. Since each cardholder can enjoy up to a maximum of RM40 cashback, the promo would benefit at least 50,000 cardholders.
Boost Bank also states that the eligibility to receive the 2% cashback is further subject to Boost Bank’s discretion that may be imposed by Boost Bank on the participants. Among transactions that are not eligible for cashback include ATM cash withdrawals and fund transfers.
How to apply for Boost Debit Card?
If you don’t have a Boost Bank Debit Card, you can apply for free via the Boost Bank app. While waiting for the physical card to arrive, you can start spending using the provided virtual card number. Take note that the physical card is issued with a different card number and it will replace the virtual card number upon activation.
So, if you’ve saved the initial Boost Bank virtual debit card number for online subscriptions, be prepared to update all of them once you’ve received your physical Boost Bank debit card.
The card’s annual fee of RM8 is waived for the first year and Boost Bank charges a RM1 fee for local ATM withdrawal via MEPS network or RM12 fee for overseas ATM withdrawal via the Mastercard network.
For overseas transactions, Boost Bank is charging a 1.25% markup on the total transactions and there are other fees that may be imposed by Mastercard.
To learn more, you can visit Boost Bank’s debit card page.
