According to the Business Times, Chocolate Finance announced on March 15, 2025 that it began receiving requested funds after a temporary suspension from customers earlier this week.
As Chocolate Finance resumes its withdrawal, the suspension, which was implemented on March 10, 2025 due to the large amount of transactions, has now been lifted. The company is working to handle withdrawals along a standard redemption timeline of 3-6 business days.
The company also raised its Chocolate Visa debit card spending cap to 1,000 S$1,000, managing what it called the “liquidity program” from the 250 limit imposed on March 11, 2025.
Chocolate Finance said it hopes to increase its spending cap further on March 14, 2025, but no timeline for complete removal is provided.
In a statement issued the same day, Chocolate Finance said customers who previously requested to withdraw their money will start receiving money and will continue to receive withdrawals following the standard redemption process.
Lim, a 28-year-old bank executive who requested that it be identified by its last name only, confirmed that he had received a withdrawal of S$5,000 on March 13, 2025.
However, not all customers have received the funds yet.
Chocolate Finance First, the immediate withdrawal was suspended on March 10th. It quotes high demand. The company has revealed that the suspension is “not a liquidity issue, but an issue that manages increased trading volume.”
On March 12, 2025, Chocolate Finance assures its customers that withdrawals will be processed within 3-6 business days and coordinated with standard investment fund redemption practices.
The company has not disclosed the total amount of withdrawal requests processed since March 10, 2025.
Chocolate Finance will resume withdrawals and raise debit card spending caps as part of its latest efforts to address customer concerns and stabilize operations.
Chocolate Financethe brands under Chocfin Pte Ltd operate under the regulations of the Singapore Monetary Authority.
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