Boost e wallet review - is it the best digital wallet in Malaysia?

Thinking of getting the Boost e-wallet in Malaysia but not sure if it’s the right option for you? Read on, as we’ve put together a handy guide covering everything you need to know.

We’ll walk you through how the Boost e-wallet works and give you the lowdown on features, benefits and merchants you can use it with. Plus, we can help you get started, by showing you how to top up your Boost e-wallet for the first time.

Before we move on, a handy tip to help you save money when shopping and spending internationally. Get the Wise account and Wise international debit card so you can shop online and in 150+ countries with the mid-market exchange rate and low, transparent fees.

But more on that later. For now, let’s get back to the Boost e-wallet.

Table of contents
What is Boost e-wallet? Wallet limits How to use the prepaid wallet in Boost Save on foreign currency transactions with Wise Frequently asked questions

What is the Boost e-wallet?

The Boost e-wallet is an electronic money app for shopping and transferring money. It’s a prepaid wallet though, so you’ll need to top it up with ‘credit’ before you can use it.

You can use your Boost e-wallet to scan and pay at merchant touchpoints¹ throughout Malaysia. If you want, you can also benefit from the Boost PayFlex service which provides flexible finance plans to buy now and pay later in convenient instalments.

Using your Boost wallet you also have the option to pay bills, send money to friends, pay for transport and shop online.

Features and rewards

As a Boost e-wallet user, you can look forward to the following features:

• Scan & Pay at participating stores and transport services nationwide
• Top up credits for your favourite games
• Convenient bill payments from the Boost app
• Access a range of insurance plans
• Pay with Boost for your online shopping
• Top up mobile credits for yourself or someone else

You’ll also earn rewards through the BoostUP Rewards Programme. This includes earning Boost Stars on your spending and top ups. Once you've earned enough Stars, you'll have the opportunity to rank up and earn even more Boost Stars when you do.

You can use your earned Boost Stars to redeem rewards from the BoostUP catalogue. This includes food vouchers, household appliances, game credits, gadgets and much more. Alternatively, you can exchange them for entries in the BoostUP Pick & Win competition taking place every month².

Where to find the Boost merchant list

The list of brands and stores you can use Boost at in Malaysia is pretty extensive, and includes restaurants, grocery stores, fashion retailers, health and beauty brands, petrol stations and many more.

You’ll find them in the Boost marketplace within the app, and will have a choice to either Scan & Go, order to collect or order for delivery (depending on the merchant).

Boost e-wallet limits

There are few limits and restrictions you need to know about with Boost. It all depends on whether you’re on the basic or premium plan, as this can affect everything from wallet size to your transaction limits. Let’s take a look³:

	Basic Plan	Premium Plan	Premium 10K
Maximum wallet size	RM 1,000	RM 4,999	RM 10,000
Monthly transaction limit	RM 2,000	RM 4,999	RM 9,999
Annual transaction limit	RM 24,000	RM 59,999	RM 119,988
Sending money between Boost e-wallets	Unavailable	Available	Available

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👀 Did you know that Boost has a linked prepaid debit card? See how the Boost Beyond card compares against the Wise card

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How to use the prepaid wallet in Boost

You should find it pretty straightforward to use Boost. It all starts with downloading the Boost app and creating your account. We’ll run through how to do this next, along with how to top up and start using Boost for shopping and spending.

How to register a new Boost account

To join Boost, you’ll need to do the following⁴:

1. Download the Boost e-wallet app
2. Click on ‘Register’ and enter your mobile number
3. Key in the 6-digit TAC code sent by Boost in an SMS
4. Enter your name, nickname and email address
5. Set up your 6-digit secure PIN to login to your Boost Account (you can also use fingerprint recognition if it's available on your device)
6. Allow Boost to access your device’s location.

You’ll start off with a Basic account, but you can upgrade to a Premium account by completing an identity verification process. This includes uploading photos of ID documents, and recording a selfie video⁵.

How to top up your Boost e-wallet

To start using Boost, you’ll need to make your first top up. This means choosing one of the available Boost payment methods, which include credit/debit card and bank account.

To add a new payment method, follow these steps⁶:

1. Tap the ‘Plus’ icon on the top right of the page
2. Select ‘Add Payment Method’
3. Enter your card or bank details
4. To register a card, you’ll need to key in the 6-digit TAC code sent to you via SMS
5. To register a bank account, you’ll need to connect to your bank.

Now you’re ready to top up. Simply tap the wallet icon in the Boost App, select your preferred payment method and key in the amount you want to add to your wallet.

How to Scan & Pay with Boost

You’ve got the Boost app, registered an account and made your first top up. Now you’re ready to start spending.

If you’d like to use your Boost e-wallet to Scan & Pay at a retail store, all you need to do is scan the merchant’s QR code at the checkout. Alternatively, you can get the merchant to scan the QR code in your Boost app¹. You’ll have the option to do either when you tap on ‘Scan & Pay’ in the app, selecting either ‘I Scan Them’ or ‘They Scan Me’. Either way should be quick and easy.

Travelling or shopping internationally? Save more on foreign currency transactions with Wise

Cut down the costs of spending when you travel and shop internationally - get a Wise debit card.

You can open a Wise account online or in the Wise app, top up in ringgit and spend globally in 150+ countries with the mid-market exchange rate and low, transparent conversion fees from just 0.33%.

Choose to convert your MYR balance to the currency you need for your purchase in your account, and spend your foreign currency with no extra fees on and offline. Or leave your money in ringgit and let the card do the conversion for you at the point of purchase. In either case, conversion costs can be as low as 0.33% - so you can get even more from your online shop.

Need cash? Make up to 2 withdrawals globally, to the value of 1,000 MYR every month, before paying a Wise withdrawal fee.

Spend freely online or while travelling, studying or working abroad, without worrying about poor exchange rates:
Get the Wise card today!

Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

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Frequently asked questions

How do I contact Boost e-wallet Malaysia?

If you need help, you can contact customer support through one of the following options⁷:

• Submit a request through the Boost app or at www.myboost.com.my
• Email support@myboost.com.my
• Message Boost on Facebook (@myboostapp).

Unfortunately, there doesn’t appear to be a Boost customer service contact number for Malaysia.

How to delete a Boost account?

To terminate your Boost account, you can email Boost using the address above and provide the following information:

• Your full name as in your NRIC
• Your NRIC number
• The phone number registered with Boost.

Can Boost e wallet transfer to bank accounts?

You can use your Boost e-wallet to send money to a bank account if the recipient uses the Duitnow system. In this case, as long as you’re a Boost premium level customer, you can use your Boost account to send money from your e-wallet balance to your recipient’s Duitnow bank account.

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Summary

Boost digital bank offers a pretty comprehensive - and growing - list of features and services. After reading this guide, you should be all clued up on the benefits, features and limits of the Boost e-wallet in Malaysia. We’ve covered everything from Boost merchants and Scan & Pay to the BoostUp reward scheme.

This should help you work out whether the Boost e-wallet is the right option for you, and sign up for a Boost wallet account if so.

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Sources:

1. Boost - Scan & Pay
2. BoostUP Reward Programme
3. Boost - Product Disclosure
4. Boost Support - How do I register a new Boost account?
5. Boost Support - How do I upgrade to a Premium wallet?
6. Boost Support - How do I set up a payment method for my Boost e-wallet?
7. Boost Support - How do I contact Boost for help?