Can I transfer money from Grab PayLater to a bank account?

Can I Transfer Money from Grab PayLater to a Bank Account? The Short Answer: Not Directly.

The question of transferring funds from Grab PayLater to a bank account is a common one, and the answer is nuanced. While you can’t directly transfer money from Grab PayLater to your bank account, the situation isn’t entirely hopeless. The key lies in understanding the difference between Grab PayLater and GrabPay Credits.

Grab PayLater is a credit line offered by Grab, allowing you to make purchases and pay later. Think of it like a short-term loan. This credit line balance cannot be directly transferred to a bank account. Instead, you must first settle your Grab PayLater balance by making a payment. This payment can be made using various methods, including linked bank accounts or other payment methods available within the Grab app.

Once you’ve settled your Grab PayLater balance, the focus shifts to your GrabPay Credits. These are funds you’ve added to your GrabPay wallet, separate from your PayLater credit. These GrabPay Credits can be transferred to a Malaysian bank account registered under your name. The process typically involves navigating to the relevant section within the Grab app and providing your bank account details. The app will guide you through the necessary steps to complete the transfer.

It’s crucial to note that this transfer only applies to GrabPay Credits, not outstanding balances on Grab PayLater. Attempting to transfer funds before settling your PayLater balance will result in failure.

Furthermore, the Grab app also allows for peer-to-peer transfers between GrabPay users. This means you can send GrabPay Credits to another Grab user, but this doesn’t address the initial question of transferring funds to a bank account directly from PayLater.

In summary: You cannot transfer money directly from Grab PayLater to your bank account. You must first repay your PayLater balance. Only then can you transfer your available GrabPay Credits to your linked Malaysian bank account through the Grab app. Always ensure you understand the difference between Grab PayLater and GrabPay Credits to avoid confusion.