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Singapore

YouTrip users can now transfer funds back to bank account, subject to conditions

The new feature only applies to top-ups made via PayNow or linked bank accounts after midnight on Jul 22.

YouTrip users can now transfer funds back to bank account, subject to conditions
Users can perform up to 10 free withdrawals a month. (Photo: YouTrip)
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SINGAPORE: YouTrip users can now transfer funds from their digital wallet back to their bank accounts - subject to certain conditions. 

This new bank withdrawal feature, which will be "gradually rolled out" in the coming days, only applies to top-ups made after midnight on Jul 22.

"In response to one of the most requested features by users, YouTrip now allows new funds to be withdrawn back into their bank account through the user’s mobile number or NRIC tied to their YouTrip account," the company said in a press release on Tuesday (Jul 23).

The transferable balances are limited to top-ups done via PayNow or the linked bank account method. Card top-ups via debit and credit card cannot be withdrawn.

In addition, only funds within the Singapore Dollar (SGD) wallet can be withdrawn.

This means users who wish to withdraw funds from other currency wallets will have to first convert them back to SGD. 

Users can perform up to 10 free withdrawals a month. 

"If you wish to make more than 10 bank withdrawals, you’ll have to request for a refund instead. Do note that a refund processing fee of S$10 will apply," YouTrip said on its website. 

"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,” said CEO Caecilia Chu. 

Source: CNA/rj(zl)
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