Singapore-based multi-currency e-wallet U-Trip Users can now transfer funds to their bank accounts and link their accounts to top up.
These features are intended to give users more flexibility and control. The new features will be rolled out to all users in stages 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.
You can only withdraw funds from your Singapore Dollar (SGD) wallet.
Users who wish to withdraw funds from other currency wallets will first need to convert it back to SGD.
Funds available for withdrawal to a bank account are reflected as a “transferable balance” and users are allowed to make up to 10 free withdrawals per calendar month.
The service will be available from 22 July 2024 for top-ups made via PayNow or the new “linked bank account” scheme.
Additionally, YouTrip has introduced a ‘Linked Bank Account’ option for seamless top-ups, in addition to existing fee-free methods such as PayNow, Mastercard and Visa (debit).
To avail this new top-up method, users will need to complete a one-time authentication process.
These features were available in YouTrip’s previous Wallet limit increaseIt will increase the retention limit to S$20,000 and the annual spending limit to S$100,000.
To ensure the security of its users, YouTrip implements security measures such as deposit and withdrawal limits on registered PayNow accounts.
These measures are intended to prevent fraudulent transfers in the event of an account takeover attempt.
“YouTrip is a game maker, not a service provider,” said Caecilia Chu, CEO and co-founder of YouTrip.
“From being the first to introduce increased wallet limits to introducing free bank transfers and withdrawals, our efforts to cater to local specific demands underscore our commitment to giving users more control and flexibility to manage their finances.
We believe these enhancements will enable our users to seamlessly manage their funds and enjoy a truly convenient payment experience, encouraging them to shop with confidence on YouTrip.”
