Back in December of 2024, Shopee doubled the ShopeePay e-wallet limit for users who have completed the e-KYC verification process. The company has announced that it is increasing said limit again, this time tripling the previous amount. Per the announcement, “ShopeePay has increased its wallet limit to RM30,000, making it the largest e-wallet limit currently available in Malaysia”.
As before, benefiting from the increased limit in predicated on a customer having completed the e-KYC process. Those who have done so to get the RM9,999 limit previously will be automatically upgraded to the new RM30,000 limit. New users, or existing users who haven’t done the verification process, can do so now and immediately get the upgrade.
Other limits have also been raised alongside the e-wallet limit. The daily transaction limit mirrors the wallet limit, going from RM9,999 to RM30,000. Though “payments, transfers and withdrawals are still capped at RM9,999 per transaction, in line with regulatory requirements”. Users are also “assigned a default daily transaction limit, which they can adjust via the ShopeePay app”. There’s a 3-hour cooling off period whenever you do this though.
For The High Rollers
Beyond that, the monthly transaction limit has gone from RM20,000 to RM180,000, with the annual limit going from RM120,000 to RM360,000. Referring to the familiar support page, these new limits have been designated the Premium Plus wallet tier. On one hand, it’s unclear what is the difference between Premium and Premium Plus. In a similar but separate support page though, the two Premium wallet types can do DuitNow and P2P transfers where the Basic wallet tier cannot. On that note, the limit for unverified users remains at RM2,999.
As before though, this will most likely benefit only the biggest of spenders. Though it’s probably a side plus to the actual benefit of doing the eKYC process.
