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Terms & ConditionsHow does Boost work?
#Submitting a cash out request with the Redemption Code indicates a Boost request submission. Hence, the requested cash out amount will not be transferred to your LytePay-registered bank account.
Who can participate in Boost?
LytePay users
Ensure you have completed your KYC, and submitted a bank account number and bank statement.
Have eligible transactions
You have at least 1 Resale or Project transaction with more than $500 in commission to be received.
$0 Owing to Lyte
You do not have any outstanding amount owing to Lyte.
Frequently Asked Questions
Boost is a rewards program by Lyte, where you can enjoy Cash Rewards of up to 6% on the Boosted Commissions upon completion of a Commitment Period.
As long as you have at least one upcoming Resale and/or Project transaction, and do not have any outstanding cash outs due to Lyte, you may be eligible to participate in Boost.
The Cash Rewards are dependent on the Commitment Period, as follows:
- 90 days: 4% Cash Reward
- 270 days: 5.25% Cash Reward
- 365 days: 6% Cash Reward
Please note that these Cash Rewards amounts are only valid if the following conditions are met:
- The Boost request is submitted before 3 July 2024
- We receive at least $500 of your commissions from your agency within 3 months of the Boost request submission
Submit your interest to participate in Boost via this form before 3 July 2024.
Thereafter, you will receive an email that contains a unique Redemption Code. Submit a cash out request* using the Redemption Code to waive the usual 4.5% cash out transaction fee.
Once we receive your cash out request, we will send you a confirmation email. When we receive at least $500 of your commissions from your agency, Boost will commence within 1 business day, and you will start earning Cash Rewards.
*Please note that submitting a cash out request with the Redemption Code indicates a Boost request submission, and the requested cash out amount will not be transferred to your LytePay-registered bank account.
If you wish to withdraw your Boosted commissions before Boost starts or within the first 90 days of the Boost Start Date, the Cash Rewards earned during the Commitment Period will be forfeited.
For early withdrawals after the first 90 days of the Boost Start Date, before the end of the commitment period, the Cash Rewards earned during the Boosted period will be prorated.
After you submit your Boost early withdrawal request, you will receive the Boosted Amount and Cash Rewards (if applicable), in your Lyte-registered bank account within 3 business days.
The Cash Reward of 4-6% is based on the amount you choose to Boost and the Commitment Period. It will then be prorated over the Commitment Period of up to 365 days.
For example, if you choose to Boost an amount of $10,000 for 270 days, which gives a 5.25% Cash Reward, you will earn $388.36 in Cash Rewards at the end of the commitment period.