BigPay Review

Claire Millard
Şeyma Mektepli
Last updated
27 June 2023

If you are looking for a safe money transfer app that won’t cost you a fortune, BigPay may be for you. The innovative app offers fast and cheap local and international transfers, at fixed fees. The app makes cashless payments easy and the linked pre-paid debit card lets you pay where digital payment is not yet accepted. Sign-up is quick and easy and the app is easy-to-use and secure.

In this review we will look at everything there is to know about BigPay, what services they offer, what they charge, and how fast you can send money overseas We’ll also cover some alternatives to BigPay like Wise and WorldRemit, that you can use in Malaysia.

Learn more about WiseLearn more about WorldRemit

BigPay: Key points

Key features:

  • Use BigPay to send and receive domestic and international payments.

  • Shop online or offline with the BigPay pre-paid card

  • Pay bills and track your spending.

  • Rates, fees, and available services vary by the destination country

  • Many payments are available within minutes

  • Top-up BigPay account using debit or credit cards or via FPX bank transfer

Key stats:

  • Founded in 2017 and headquartered in Kuala Lumpur

  • Many transfers are ready within minutes or two business days

  • Send in 13 different currencies to 12 countries plus Europe from Malaysia.

  • 2 million customers have used BigPay to date

  • Regulated by Bank Negara Malaysia

BigPay ProsBigPay Cons

✅ Transparent transfer fees

Easy to transfer, deposit, and withdraw money via the mobile app

Pay almost anywhere with the BigPay card where Visa or Mastercard debit cards are accepted

❌ Can only send money to 12 countries, as well as the UK and Europe

❌ Can’t keep multiple currencies in one account

❌ Top-up on the card is limited to 5,000 MYR

❌ No interest is earned on a positive balance


What is BigPay?

BigPay was launched in 2017 by Christopher Davison, Salami Dhanani, and Navin Rajagopalan. With the goal of making financial services accessible to more Malaysians, and by 2021 more than 2 million Malaysians have used BigPay. The company is known for offering innovative financial services like easy-to-use low-cost international transfers, a linked debit card, and more.

Money Transfers

Money transfers are a convenient way to send and receive money. With BigPay you can transfer to bank accounts from your phone with just a few steps. This includes transfers to Malaysian bank accounts, as well as to countries around the world, including the UK and Europe. You can also transfer money between BigPay accounts.

Great for: Convenient local and international transfers, often at discounted promotional rates.

BigPay Card & Mobile Payments

The BigPay card is a debit card from Mastercard or Visa and can be used online or offline wherever Mastercard or Visa is accepted. The card has additional features like splitting bills at restaurants or withdrawing cash at ATMs.

Great for: Convenient for travelers who don’t want to carry cash and get cash if needed, almost anywhere in the world.

bigpay-card.webp

If you are interested in opening a multi-currency account to multiple currencies in one account, and spend with a linked international debit card, Wise Card can be a good option in Malaysia. Read our full Wise card review to learn more.

Personal Loans

BigPay recently started offering personal loans. Customers can apply by completing a loan application form. Once approved and the loan contract signed, the money will be paid into the customer’s BigPay account, which they can then use to spend it.

Repayments of the loan are deducted from the customer’s BigPay account. They can choose whether to make repayments manually or set up automatic payments.

Great for: Growing your business, home renovations, and tuition payments.

Bill payments

BigPay lets customers pay certain bills at certain providers[link]. These include things like water and electricity, mobile and internet, as well as TV and loan payments. Payments to these selected providers are free but with minimum and maximum limits. While payment scheduling is not yet possible, users can set monthly reminders for bill payments.

Great for: Managing your budget and finances

BigPay Alternatives in Malaysia

  • Wise: Wise lets you send money to bank accounts in 70 countries. They have a transparent fee structure and always use the mid-market exchange rate. Wise offers a multi-currency account where you can local bank details in 10 currencies, and also hold & exchange more than 40 different currencies. With the Wise debit card you can spend and withdraw local currency in more than 170 countries.

  • WorldRemit: Known for low fees, and relatively fast transfer times, WorldRemit lets users send MYR to more than 120 countries. They offer a wide variety of delivery options, including cash collection. If you need assistance, WorldRemit’s customer care is available 24/7

  • PayPal: Well-established and easy to use, PayPal offers near-instant transfers between account holders all around the world. Thousands of retailers worldwide accept PayPal, making it a convenient payment method.

  • Western Union: Western Union is one of the oldest international money transfer providers in the world. Transfer money overseas to almost any country online or in-person at one of their 500,000 agents worldwide. Western Union offers several delivery options, including cash pickup.

Go to WiseGo to WorldRemit

How does BigPay work?

With BigPay you can transfer money by using the BigPay app. You can choose between sending money to other BigPay accounts or foreign bank accounts. BigPay charges a fixed fee for transfers and doesn’t add extra currency conversion charges as some traditional banks do. Transfers often happen within minutes or up to 3 business days, and are thus faster than many traditional banks.

Is BigPay safe? 

BigPay is regulated by Malaysia’s central bank, Bank Negara Malaysia. This means that BigPay adheres to certain verification protocols and transfer limits. Accounts are protected by 2-factor verification, and accounts can be instantly frozen when the card is lost.

BigPay Advantages

  • Easy to transfer, deposit, and withdraw money via the mobile app

  • Pay almost anywhere with the BigPay card where Visa or Mastercard debit cards are accepted

  • Allows regular bill payment

  • Easily track payments and manage spending via analytics

  • Quickly freeze card when lost or stolen

BigPay Disadvantages

  • Can only send money to 12 countries, as well as the UK and Europe

  • Can’t keep multiple currencies in one account

  • Top-up on the card is limited to 5,000 MYR

  • No interest is earned on a positive balance

    If you are looking send international transfers to different countries, Wise money transfer can be a good option in Malaysia. Wise offers transfers from abroad to Malaysia, and from Malaysia to overseas. Read our Wise money transfer review to learn more.

BigPay transfer fees

How much you will pay to send with BigPay depends on the country that you are sending to. Note that extra fees like exchange fees may be worked into the exchange rate offered.

Sending a payment toFixed transfer fee
Australia13 MYR / 15 MYR*
Bangladesh6 MYR
China22 MYR
Europe0 MY
India3.50 MYR / 5 MYR*
Indonesia4.50 MYR / 5 MYR*
Nepal6 MYR
Philippines6 MYR / 8 MYR*
Singapore4.50 MYR / 5 MYR*
Thailand10 MYR / 13 MYR*
UK0 MYR
Vietnam8 MYR / 10 MYR*
Malaysia‘0.50 MYR per transaction

*Fees differ between pages

Fees are taken from the provider’s website on 13 October 2022, and are subject to change. Always check the provider’s website for up-to-date fee information.

BigPay exchange rate

BigPay uses the Visa and MasterCard exchange rates. The app displays the exchange rate before you make a transfer.

BigPay fees and charges

In addition to international money transfers, BigPay offers additional features through the BigPay card. Many of the fees have been waived until further notice, however, there is still a charge on some transactions.

FeatureFees
Annual feeFree
Account service fee2.50 MYR per month if no card transactions*
Cash withdrawal fee

Local: 6 RYM per transaction

International: 10 RYM per transaction

Currency conversion feeUp to 1% of transaction + network charges
Cross-border transaction feeFree
Card replacement fee20 MYR per card
Card cancellation feeFree
Card to card transfersFree
Cash Top-up1 - 5 RYM + 2% of reload value
Credit card convenience fee1% per transaction for top-ups above 1,000 RYM/month

*Waived until further notice

**On currencies other than MYR

Fees are taken from the provider’s website on 13 October 2022, and are subject to change. Always check the provider’s website for up-to-date fee information.

How long does BigPay take

Transfers can take anything from a couple of minutes to several days. How long it takes is determined by factors like currency route, intermediaries, local legislation, transfer amount, time of transfer, and the like. Sometimes additional authorization may be needed, which can delay the transfer.

Below is a guide to transferring times according to BigPay:

Sending a payment toTime to transfer
Australia1 - 2 working days
Bangladesh3 working days
China15 minutes
EuropeInformation not available
India5 minutes to 1 working day
Indonesia5 minutes
Nepal1 working day
Philippines1 working day
Singapore10 minutes to 2 working days
Thailand1 - 2 working days
UKInformation not available
Vietnam30 minutes to 1 working day
Malaysia1 working day

Transfer times are taken from the provider’s website on 13 October 2022, and are subject to change. Always check the provider’s website for up-to-date fee information.

How to use BigPay       

BigPay allows you to transfer money using their app. Sending money via the BigPay app requires only a few steps:

  1. Select the Payments at the bottom of the app

  2. Select the type of payment you would like to do, ie international bank transfer.

  3. Choose where you would like to send the money.

  4. Select the currency and amount you want to send.

  5. Enter recipient details.

  6. Tap Pay to complete the transfer.

Related: How to use BigPay card

Funding methods

To use your BigPay account for payments, you need to top up your account. You can do this in several ways:

  • FPX bank transfer

  • Debit card

  • Credit card

Note that you can only top-up your BigPay account from Malaysian bank accounts and credit or debit cards that are registered in Malaysia.

Payout methods

International money transfers can be made to bank accounts in the 12 supported countries, as well as Europe. BigPay does not have a cash pickup option.

Note that you can only top-up your BigPay account from Malaysian bank accounts and credit or debit cards that are registered in Malaysia.

How to create an account

You can create a BigPay account online via the BigPay app from the App Store or Play Store.

  1. Sign up and provide your ID.

  2. Load 20 MYR opening deposit. The card is sent.

  3. Once it has arrived, activate your BigPay card on the app.

  4. Start using the card and app.

What documents you'll need

To complete the sign-up process, BigPay will need to verify. This may be the first time you use the service, or you might be asked to provide documents later, depending on how you’re using your account.

BigPay is only available to Malaysian citizens or those with residency permits and/or visas. To open an account you have to provide either a Malaysian ID document or a visa (categories 1, 2, or 3).

How long does verification take

Once documents have been submitted, verification usually takes no longer than 1 business day.

BigPay transfer limits 

BigPay limits local transactions to 5,000 MYR per transaction and 10,000 MYR per month. International transfer limits are set by BigPay at their discretion according to user and/or categories. The app will inform you if the amount to be transferred exceeds the limit.

Supported currencies

BigPay lets you send money in 13 different currencies from 12 countries as well as Europe, including MYR, EUR, GBP, and more. [link]

BigPay regularly updates the countries and currencies available - check here for the most up to date available information.

Related article: Wise vs BigPay

BigPay reviews

Rating of 4.1 from 6,600 reviews on the App store, 3.8 from 26,500 reviews on the Play store. Many customers complain about customer service.

Negative:

“very bad customer service. been trying to contact customer service via email and in-app chat, but very very very slow reply, and doesn't seem useful.”

“App crashes all the time. Customer service slow to respond with no solution.”

Positive:

“A great app with a very reliable Visa card.”

“The exchange rates used…really saved me a lot.”

BigPay accessibility

BigPay is a mobile-only service and has no desktop app. It supports iOS and Android devices and currently supports English only. The BigPay app is free to download from the Google Play store or Apple App store.

BigPay Customer Service

BigPay has a dedicated customer support team on hand if you need help or advice about your payment.

BigPay Customer Support
Customer support channelBigPay availability
Phone support60 376 629 200
Chat supportLog into your account to access in-app chat support
Email support[email protected]

Conclusion: Is BigPay good?

BigPay is great for those looking for an easy and affordable way to transfer money overseas and convert and spend foreign currency. The app is easy to use and charges are presented up-front before a transaction is completed. Many of BigPay’s transfers are available within minutes, others within a couple of business days. The app is safe and secure thanks to strict regulations and many safety features.

BigPay’s goal is to make financial services easy and accessible and they are constantly adding useful features, like the recently launched personal loans.

Learn more about WiseLearn more about WorldRemit

FAQ

How much does BigPay cost?

BigPay’s fees depend on the type of transaction and the currency route. Transfer fees vary between 0 and 22 MYR. Setting up an account is free, but requires a 20 MYR opening deposit.

How long does BigPay take to transfer funds?

Transferring funds can take anything from 2 minutes to a couple of days. The time it takes depends on many factors, including the currency route and whether intermediaries are involved.

Is BigPay safe?

Yes, BigPay is regulated by Bank Negara Malaysia, Malaysia’s central bank. Therefore they have to adhere to certain standards and practices. BigPay uses 2-factor authentication, as well as touch ID to keep accounts safe.

How does BigPay apply exchange rates?

BigPay bases its exchange rate on the MasterCard and Visa exchange rates. The app displays the exchange rate at which the money will be transferred before completing the transaction.

Does BigPay have a mobile app?

Yes. BigPay’s app works only on mobile devices and features cannot be accessed via desktop browsers. The app can be downloaded from either the Apple App store or Google Play store.

How does BigPay work?

You can transfer money by using the BigPay app either between BigPay accounts or to foreign bank accounts. BigPay charges a fixed fee for transfers and no extra currency conversion charges. Transfers often happen within minutes or up to 3 business days.

How many currencies does it support?

BigPay supports 13 different currencies from 12 countries and Europe. These include currencies like MYR, GBP, EUR, and more. Transfers will occur in the local currency of the country which the money is sent to.