YouTrip increases max limits of its digital wallet, up to 4x its previous cap
YouTrip users can now hold up to a combined S$20,000 in the wallet, and the annual spending limit now goes up to S$100,000.
YouTrip boosts e-wallet stock and flow cap limits.
Frequent holiday travellers and High SES folks would be chuffed at YouTrip’s latest development. The multi-currency digital wallet has increased its stock and flow cap limits, allowing these users to make more payments with 0% transaction fees on popular currencies worldwide.
YouTrip today (3 January 2024) increased its digital wallet's stock and flow cap limits. Users can now hold a combined S$20,000 at any point in time, and have an annual spending limit of S$100,000.
This is 3~4 times higher than previous caps, at S$5,000 and S$30,000, respectively.
YouTrip new wallet and spending limits, versus old limits.
According to its official statement, YouTrip is one of the first Major Payment Institution licence holders in Singapore to be able to raise limits, which makes its a sweeter achievement for the company and its users.
Previously, users expressed their desire for a higher flow cap limit to utilise their YouTrip wallet for purchases such as flight tickets, hotel accommodation and family expenses. Now with the enhanced limits, it addresses a key pain point for our users who were previously curtailed by the lower caps. This revision to the wallet limits is a game-changer, allowing us to offer unparalleled convenience and open doors to a world of unhindered payment experience to our users,” said Caecilia Chu, CEO and Co-Founder of YouTrip.
YouTrip’s physical and virtual cards function like debit cards, deducting sums of money from its digital wallet. Payment in Singapore (or in Singapore Dollars) is also supported all along. The cap limit increase also meant that users could easily organise their holiday spending — such as flight tickets, entries to places of interest, and hotel accommodation — all in one spending log on the YouTrip app.
Stock image of using YouTrip to pay for flight tickets, logging it with other travel-related expenses.
The increased cap follows after major updates to YouTrip’s functionality, like Apple Pay and Google Pay support, on top of a major revamp to its security.
Enhanced security features also include a new fraud-reporting email helpdesk, an extra 12-hour cooling-off period when changing to a new device, an additional authentication request upon changing contact details, and a cap of S$1,000 for peer-to-peer transfers between two YouTrip users.
New campaign to celebrate new limits
YouTrip's campaign for its increase in cap limits.
To celebrate its achievement and the enhanced limit cap, YouTrip is giving out three pairs of return flight tickets to anywhere, along with prizes worth S$20,000 — if you are a top spender in one of its three categories between 3 and 16 January 2024.
More information about this campaign can be found here.
Source: YouTrip
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