1. Is there a fee associated with this payment?
If your account is configured to accept only FPX, FPX payments will be free of charge. If your account is configured to accept both FPX and credit card payments, FPX payments will be free of charge, but credit card payments will incur a fee of 2.25% for payments made with Malaysia-issued cards or 3.3% for payments made with internationally issued credit cards — this fee will be absorbed by the DP. If you didn't opt-in to accept credit card payments but would now like to do so, please reach out to us at [email protected].
2. After the grant application is approved, what comes next?
MSME will be required to make payments within 14 days from the date they receive the approval email.
3. Will I receive a notification when the payment is deposited into my bank account?
You will receive an email notification at your registered email address once the funds have been successfully transferred to your bank account.
4. Where will the funds be sent?
The funds will be directed to your activated BSN (Bank Simpanan Nasional) account designated for this program.
5. Is it possible for the MSMEs to make an offline payment to me?
Regrettably, all payment arrangements must be conducted through this channel for the sake of proper record-keeping Any transactions made outside of this arrangement will result in the forfeiture of the grant application.
6. I wish to update my bank account information. What is the process for doing so?
Unfortunately, we cannot assist with changing bank account details.
7. How will the payment from the MSME appear on my bank statement?
The payment reference will appear as "Deal Reference"," and the payment purpose will be designated as "Business Purchase." Please be aware that it may be subject to BSN's internal regulations regarding the characters displayed.
Example: 100012345 Business Purchase
8. What is the expected timeframe for the funds to be deposited into my bank account?
You can anticipate the funds to be credited to your bank account within three (3) business days from the date your payor (the MSME's) credit card or online payment is charged
9. What are the definitions of payment status?
Processing: Awaiting MSME approval for payment authorization.
Cancelled: Payment voided by MSME.
Payment Success: Payment charged successfully.
Complete: Funds successfully transferred to the DP account.