Fintech
YouTrip Adds Bank Transfers and Linked Account Top-up Features
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Multi-currency e-wallet based in Singapore Your journey now allows users to transfer funds to their bank accounts and link their accounts for top-ups.
These features are designed to improve user flexibility and control. The new features will be gradually available to all users over the next few days.
Users can now withdraw funds to their bank accounts using the mobile number or NRIC code linked to their YouTrip account.
Only funds in your Singapore Dollar (SGD) wallet can be withdrawn.
Users who wish to withdraw funds from wallets in other currencies will first need to convert them back to SGD.
Withdrawable funds to bank accounts will be referred to as “transferable balance” and users will be able to make up to 10 free withdrawals per calendar month.
This service is available for top-ups made via PayNow or the new “Linked Bank Account” method starting from 22 July 2024.
Additionally, YouTrip has introduced the ‘Linked Bank Account’ option for seamless top-ups, which is in addition to existing fee-free methods like PayNow, Mastercard and Visa (debit).
To take advantage of this new top-up method, users must complete the authentication process once.
These features follow the previous ones of YouTrip Increased wallet limitsincreasing the withholding limit to S$20,000 and the annual spending limit to S$100,000.
To ensure the safety of users, YouTrip has implemented security measures such as top-up limits and withdrawal restrictions on the registered PayNow account.
These measures are intended 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 implement higher wallet limits to introducing free bank transfers and withdrawals, our commitment to meeting localized demands underscores our dedication to giving users more control and flexibility over their finances.
We believe these improvements will encourage users to spend with confidence with YouTrip, knowing they can seamlessly manage their funds and enjoy a truly convenient payment experience.”