Revolut’s e-wallet limits in Singapore have been increased, allowing users to hold up to S$20,000, up from S$5,000.
Additionally, users can now spend up to S$100,000 per year, up from the previous limit of S$30,000.
Revolut The company also launched a new currency pocket for the Indonesian Rupiah (IDR), bringing the total number of currencies available on the app to 34.
These changes are aimed at improving user convenience, especially when it comes to travelling and large transactions.
Revolutes’ increased e-wallet limits in Singapore will enable you to cater to a range of spending needs, including group expenses and international remittances.
This update is a recent Revolut Flexible Account in SingaporeIt offers up to 5.21% APY on investments in USD-denominated money market funds managed by Fidelity International.
Revolut has also stepped up its security measures, introducing features such as disposable virtual cards, real-time transaction monitoring and an education module on fraud prevention. These additions are aimed at keeping customers’ funds and data safe.
Raymond Ng
Mr Raymond Ng, Chief Executive Officer of Revolut Singapore, said:
“We are pleased to offer our users even more payment flexibility and convenience with the increased e-wallet limits.
The increased limits address an ongoing challenge for users who want to use the Revolut app for large international transactions such as making big-ticket purchases abroad, investing, or even paying for their children’s school fees.”
Shurin Tei
Shurin Tay, head of legal and compliance at Revolut Singapore, said:
“We understand that these increased limits may leave some users concerned about fraud and scams, which is why we’ve added further security features, including a cooling-off period for high-risk activity and additional email notifications for new device logins.”
Revolut takes the security of our clients’ data and funds very seriously. We are always ahead of the curve. Building a strong financial crimes team. “
Featured Image Credit: Free Pick
