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Dear customers,
Starting 1st of July 2021, Basketball Bank will be charging additional 5% fees for GST. This is because we are responding to the latest implement of Goods and Services' Taxes under Section 44.2 QQ rules Penal Code 44 Act 2021.
For transactions, starting that day onwards, we'll be changing our transaction fees from 5% to 10%. (5% goes to service fees and 5% goes to Finance Department's GST)
But, for Borrow (loan) QQ dollars, there will NOT be applied for GST.
For more information, contact us or see the FAQ below. We apologized for the inconvenience caused. Thank you.
Basketball Bank | 1st July 2021
Frequently asked questions (FAQ)
Does Basketball Bank charge 10% per transaction if I transfer money to another user?
Yes. 5% goes to us and another 5% goes to the Finance Department's GST. This is because we're responding to the latest implement of Goods and Services' Taxes under Section 44.2 QQ rules Penal Code 44 Act 2021.
Does Basketball Bank charge 10% per transaction if I make other transactions (like paying for compound, MagasinerQQ™ etc.)?
No. But you may be subjected for 5% GST if you're paying for transactions on the other side. You may learn more on your preferred portal to see if they charge 5% GST or not.
Does this affect Borrow (loan) QQ dollars?
When loaning QQ dollars, you won't be affected from 5% GST, for now.
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