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[SPayLater] What happens if I do not make payment on time?
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You are required to make full payments as per your SPayLater bills whenever you have utilised the SPayLater function.
If you do not make full payment by the 1st, 10th or 20th of every month, your SPayLater and/or Shopee account will be suspended. To continue using the SPayLater service, a late charge of the bill principal amount or RM10, whichever is lower will be applied (effective from the 26th of September 2024).
Examples as below:
A late charge will be charged every time there is an overdue and the user's SPayLater account is suspended | ||
Due Date | Bill payment Made By User | Late Charge |
1 August | Users make full payment | 0 |
1 September | No payment made, user overdue | Bill principal amount or RM10, whichever lower |
1 October | No payment made, user overdue | No late payment charge. The bill principal amount or RM10, whichever lower will be applied if there are consecutive overdue |
1 November | User make full payment (for the Sep, Oct and Nov) | 0 |
1 December | No payment made, user overdue | Bill principal amount or RM10, whichever lower |
1 January | Users make full payment | 0 |
To remain Shariah-compliant, any charges above the actual cost incurred will be donated to a charitable body approved by the Shariah Advisor.
You may click HERE for more information.
SPayLater is a service provided by SeaMoney Capital Malaysia Sdn Bhd.
