SINGAPORE, 24 July 2024: YouTrip, Singapore’s popular multi-currency digital wallet, announces that users can now transfer funds back to their bank account.
Additionally, users can link their bank accounts for a convenient top-up process. These enhancements are designed to foster greater flexibility and spending confidence among users. YouTrip users will receive invitations to experience the new features in phases over the next few days.
In response to users who requested feature improvements, YouTrip now allows new funds to be withdrawn back into their bank account through the user’s mobile number or NRIC tied to their YouTrip account. Withdrawals are available to all new top-ups made through PayNow or the newly introduced ‘Linked Bank Account’ method, starting from 22 July 2024, 00:00 hrs onwards.
Only funds within the Singapore Dollar (SGD) wallet can be withdrawn. Users who wish to withdraw funds from other currency wallets will have to first convert them back to SGD. Funds that are withdrawable back to bank accounts will be reflected as the ‘transferable balance’. Users can perform up to 10 free withdrawals per calendar month.
YouTrip has also introduced a new top-up method where users can link their bank account directly for effortless wallet top-ups. This new ‘Linked Bank Account’ option was added to its fee-free methods such as PayNow, Mastercard, and Visa (Debit). Users must only key in their bank information and complete the authentication process once to enjoy the convenience of topping up their YouTrip account moving forward.
The new features follow YouTrip’s increased limits earlier in January this year. YouTrip was the first digital wallet in Singapore to raise its limits to SGD20,000 for wallet hold and SGD100,000 annual spending, previously SGD5,000 and SGD30,000, respectively, following the updated regulations.
