What is the top up fee for Grab wallet?

Grab Wallet Top-Up Fees: A 1% Charge on Credit Cards Arrives

Grab users relying on credit cards to top up their Grab Wallets will face a new fee starting September 11, 2024. The company has announced a 1% charge on all credit card top-ups, regardless of whether the transaction is manual or automatic. This change impacts users with both locally and internationally issued credit cards.

This development marks a shift in Grab’s payment policy, previously offering free credit card top-ups. The introduction of this fee is likely designed to offset processing costs associated with credit card transactions. While the exact reasoning hasn’t been explicitly stated by Grab, it aligns with industry trends where many digital wallets and payment platforms are adopting similar fee structures to maintain financial stability.

What this means for Grab users:

• Increased cost: Users should anticipate an additional 1% charge added to their top-up amount when using a credit card. For example, a RM100 top-up will now cost RM101.
• All credit cards affected: The 1% fee applies universally to all credit cards, irrespective of the issuing bank or location. This includes both domestic and international cards linked to Grab Wallet.
• Automatic top-ups included: Users who have set up automatic top-ups will also be subject to the 1% fee. This means that maintaining automated funding will come with an added cost.

Alternatives to credit card top-ups:

While the new fee might be inconvenient, users still have several alternative methods for adding funds to their Grab Wallets, potentially avoiding the 1% charge. These typically include:

• Debit cards: Check if using a debit card to top up your Grab Wallet remains fee-free.
• Online banking: Many online banking platforms offer direct top-up options for Grab Wallet.
• Over-the-counter payments: Various physical locations might offer cash top-ups to Grab Wallet. Check the Grab app for nearby options.

Users are advised to review their Grab Wallet settings and consider alternative top-up methods to minimize costs. It’s crucial to understand the implications of the new fee before making future top-ups to avoid unexpected charges. For the most up-to-date information, always refer to Grab’s official announcements and in-app notifications.