Singapore-based multi-currency e-wallet YouTrip now allows users to transfer funds back to their bank accounts and link their accounts for top-ups.
These features aim to enhance user flexibility and control. The new functionalities will be available to all users gradually over the next few days.
Users can now withdraw funds to their bank accounts using their mobile number or NRIC linked to their YouTrip account.
Only funds within the Singapore Dollar (SGD) wallet can be withdrawn.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’, and users can perform up to 10 free withdrawals per calendar month.
This service is available for top-ups made through PayNow or the new ‘Linked Bank Account’ method starting from 22 July 2024.
Additionally, YouTrip has introduced a ‘Linked Bank Account’ option for seamless top-ups, adding to existing fee-free methods like PayNow, Mastercard, and Visa (Debit).
Users need to complete the authentication process once to enjoy this new top-up method.
These features follow YouTrip’s earlier increase in wallet limits, raising the hold limit to S$20,000 and the annual spending limit to S$100,000.
To ensure user security, YouTrip has implemented safeguards such as top-up limits and restrictions on withdrawals to the registered PayNow account.
These measures aim to prevent fraudulent transfers in the event of account takeover attempts.
Caecilia Chu, CEO and Co-Founder of YouTrip said,
“From being the first to roll out the increased wallet limits to introducing free bank transfers and withdrawals, our commitment to meeting localised demands underscores our dedication to empowering users with greater control and flexibility over their finances.
We believe these enhancements will encourage users to spend confidently with YouTrip, knowing they can seamlessly manage their funds and enjoy a truly convenient payment experience.”
