As a business
As a business, we frequent funds via Rapyd. At the start of October, they suddenly implemented a maximum weekly withdrawal of USD8M without any prior notice. The day before, we had much more than USD8M by-passing Rapyd and these funds got stuck. First 2 weeks we managed to withdraw the max limit not without finding ways to bypass restrictions they set specific to our account. On the 3rd week, they managed to completely block our transfer rights and could only wait for them to manually settle the balance for us. Total interest opportunity cost was almost usd50k. Additionally, they automatically converted our SGD to USD for settlement at a 0.507 rate compared to benchmark rate of 0.73 at spot. This FX markup charged is a complete daylight robbery. Finally, they claimed we have outstanding unpaid invoices from prior year when they didn't even send us these invoices then. They withheld this total unpaid amount before settling the above to us and charged an interest on it. The nerves they have stealing a mere 4k+ when they robbed us of almost 50k interest opportunity cost. Definitely raising up to MAS.