The new service, a first from a Hong Kong virtual bank, improves cash flow control of customers and brings them convenience
Hong Kong, 17 May 2022 – Mox Bank Limited (“Mox”) launched a new service that allows Mox Credit customers to transfer money with their credit line¹. Mox is the first Hong Kong virtual bank to offer this service.
Mox Credit is highly popular with our customers and accounts for nearly 80% of all Mox Card spending. The new service¹ adds more flexibility by enabling customers to use Faster Payment System (FPS) with Mox Credit at no additional charge. It allows Mox Credit customers to pay tuition fees, utilities bills, rent, and other services instantly while having the flexibility to settle the payments later. Mox is also offering an interest-free period of up to 56 days² for settlement so customers can better manage their cash flow.
Barbaros Uygun, CEO of Mox, said: “Financial flexibility for customers is at the core of everything we do at Mox. In Hong Kong and around the world, the economic climate is weighed down by uncertainty. During such times, allowing customers to transfer and pay with Mox Credit later can ease our customers’ financial anxiety and help them control their cash flow better.”
Mox Credit customers can enjoy the new service with just a few clicks. They simply need to select the ‘Transfer' tab on their Mox app, enter the payee details and transfer amount, and then choose 'Mox Credit' for the transfer.
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¹ General Terms and Conditions (in particular, see Schedule 1 and Schedule 3 to the General Terms and Conditions) and the Mox Credit Key Facts Statement apply.
² The actual interest-free period will vary based on the date of charge and the billing cycle cut-off date. The interest-free period does not apply if we do not receive your Mox Credit statement balance in full on or before the payment due date.