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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 a full payment by the 1st, 5th, 10th, or 20th of every month (depending on your billing cycle), 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 the User | Late Charge |
1 August | Users make full payment | 0 |
1 September | No payment made, user overdue | Bill principal amount or RM10, whichever is lower |
1 October | No payment made, user overdue | No late payment charge. The principal amount of the bill, or RM10, whichever is lower, will be applied if there are consecutive overdue |
1 November | Users make full payment (for the Sep, Oct, and Nov) | 0 |
1 December | No payment made, user overdue | Bill principal amount or RM10, whichever is 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 Monee Capital Malaysia Sdn. Bhd. (formerly known as SeaMoney Capital Malaysia Sdn. Bhd.).