What is JomRenovate Settlement Policy?
Total daily collection (minimum RM0.01) shall be deposited automatically into the authorized bank account the next business day (UTC+08:00 Kuala Lumpur), except for Federal holidays. For example:
(i) Monday (collection day) > Tuesday (settlement day)
(ii) Tuesday > Wednesday
(iii) Wednesday > Thursday
(iv) Thursday > Friday
(v) Friday, Saturday, and Sunday > Monday
Settlement day shall be the next settlement day if the present settlement day is a federal holiday.
The next day means anytime between 00:00–23:59.
Please note that you can experience a 24-hour delay occasionally due to bank system maintenance.
* Disclaimer: The Settlement will be subjected to MEPS-IBG (a local bank direct debit service), which will take 1 - 2 business days to complete the payment transfer from MagitechX to the merchant beneficiary account.