Save to Travel Stash Tip: What is Average Balance?

Dreaming of exploring the vibrant cultures and stunning landscapes of Asia? BigPay's Save to Travel Stash can help you turn those dreams into reality, and even reward you for saving! This exciting promotion offers a 1% cash rebate on eligible overseas transactions across Asia, but to unlock this perk, you'll need to maintain a minimum 30-day average daily balance of RM1,000 in your Save to Travel Stash.

What is the 30-day average daily balance?

Think of it as the average amount of money you keep in your Save to Travel Stash throughout a 30-day period. Here's how it works:

Step #1: We will add up the amount of money in your Stash every single day for 30 days.

Step #2: We will then divide that total by 30 to get your average daily balance.

Let's break it down with some examples:

Scenario 1: Consistent Saver

You deposit RM1,000 on the 1st of May and don't make any further transactions.

By the 31st of May, since you maintained RM1,000 daily throughout the month, your average daily balance is RM1,000 (RM1,000 x 30 days) / 30 days = RM1,000 (Congratulations! You qualify for the rebate!)

Scenario 2: Mid-month Withdrawal

You deposit RM1,000 on the 1st of January but withdraw RM500 on the 20th. In this case, you'll have a higher balance for the first half of the month and a lower balance for the second half.

BigPay factors this in: (RM1,000 x 19 days) + (RM500 x 11 days) / 30 days = RM816.67 (Sorry, you won't reach the RM1,000 minimum this time).

Scenario 3: Top-up Boost

You start with RM900 on the 1st of May and add another RM600 on the 26th.

This top-up increases your average balance in the last few days of the month.

BigPay calculates it as: (RM900 x 25 days) + (RM1,500 x 5 days) / 30 days = RM1,000 (Great job! You qualify for the rebate again!)

Tips to reach your RM1,000 average daily balance:

Set up a recurring transfer: Automate a regular deposit into your Save to Travel Stash to consistently build your balance.

Round up your spending: Enable the "Save the Spare Change" feature in your BigPay app to automatically round up your everyday purchases and add the difference to your Stash. (Make sure you turn this on for the Save to Travel Stash, only one stash can have the round up turned on at any given time!)

Track your progress: Regularly check your average daily balance within the BigPay app to stay motivated and adjust your saving strategy if needed.

How to redeem your cash rebate:

Make sure your average daily balance is at least RM1,000 at the time of your overseas transaction (physical card or DuitNow QR payment) in Asia (excluding Malaysia).

The rebate will be calculated on the final transaction amount, excluding any fees.

You'll receive your cash rebate directly credited to your BigPay account by the 15th of the following month.

Remember: There's a maximum of RM20 cash rebate per transaction and RM100 total for the entire campaign period.

So, what are you waiting for? Start saving with BigPay's Save to Travel Stash, unlock amazing travel experiences in Asia, and get rewarded for your smart saving habits!

Terms and conditions apply.

Refer to the BigPay app for the full promo information, or click here.

The contents of the BigPay blog are provided to you for educational and informational purposes only and is not legal nor financial advice from BigPay.