YouTrip has finally launched today in Singapore, so travellers can have a smarter way to spend overseas! Here are all the key things you need to know about YouTrip.
With that said, are you aware of the additional fees and mark-ups on foreign exchange you pay when spending overseas? And how can you be sure of getting the best value out of your dollar each time you pay overseas in a foreign currency?
YouTrip is the perfect solution to your wanderlust and might just be the cheapest way to pay cashless anywhere you are. With no transaction fees and competitive exchange rates guaranteed, you have one less thing to worry about on your travels.
Still not convinced? Here’s everything you need to know about Singapore’s first ever multi-currency wallet built for travellers.
One app, one card; Multiple currencies
YouTrip is a multi-currency mobile wallet that comes as a mobile-only platform available on both iOS and Androidoperating systems. Every YouTrip app is linked directly to a contactless Mastercard®, which is free upon sign-up with no registration or annual card fees.
The YouTrip Mastercard also makes payment a breeze in over 150 currencies and 30 million merchants worldwide. This is not just in physical stores, but also for online purchases from your favourite overseas e-commerce stores with absolutely no hidden transaction fees and competitive exchange rates. Now that’s a truly global mobile wallet.
No more bank fees overseas in 150+ countries
Yes, you heard us right, there are absolutely no fees whatsoever!
A typical bank-issued credit card charges 2.8% – 3.5% in admin fees for foreign currency transactions, or even more if you choose to pay with Dynamic Currency Conversion (DCC). This also comes on top of additional markups on exchange rates on the foreign currency you’ve used for the purchase. So that’s the typical ‘price’ to pay when going cashless abroad, depending on the card you use and the way you choose to transact (i.e., with or without DCC), these add up to as much as 3 – 5% in total fees paid to banks.
Well, not anymore with YouTrip! You can now say bye bye to all those hidden bank fees you’ve been paying unknowingly. We guarantee 0% in admin/processing fees for foreign currency fees and 0% markups on Wholesale Exchange Rates for all 150+ currencies.
For example, here’s an illustration on what you pay in SGD for a 500 Euro purchase overseas:
24/7 in-app money changer for 10 currencies
With the YouTrip app, you can exchange and store up to 10 different currencies so you can lock-down a good rate when you see one. It’s convenient and easy too, with money exchange done with just one-swipe on the app.
YouTrip exchange rates are also constantly updated every second so you can be sure to get only the ‘real’ exchange rates whenever. In case you’re unsure of what’s a good rate, simply check it out on Google as that’s usually the interbank rates before any markups are made by retail banks and money changers.
See it to believe it, download YouTrip to compare the rates against what you can find on Google or even XE.com. Currencies available for in-app exchange includes; SGD, GBP, EUR, USD, HKD, JPY, AUD, NZD, CHF, SEK.
Stay in control of your expenses
There’s never a transaction too small to note. That’s why we’ve made instant transaction notifications possible on your mobile device with the YouTrip app. Every transaction on your YouTrip Mastercard will appear immediately so you never miss out on an expense. You’ll also be alerted of any wrong or fraudulent transactions immediately.
Managing your daily expense budget is now easier than ever. Simply log-in to your YouTrip app to view your transaction history in a glance. No more waiting for your card statements and managing clunky PDF documents.
Card security is right at your fingertips
Ever lost your credit card and had to call the bank to block your card to avoid fraudulent transactions? Well, in most cases like this, you’re likely to be protected by your card issuing bank but why subject yourself to all that hassle? All it takes is a touch of a button to lock and unlock your card in the YouTrip app.
All it takes is 3 minutes
Have we already mentioned that YouTrip is completely free? With no minimum income requirement, account fall-below fees or annual card membership fees, all you’ll need to do is to download YouTrip to register.
After submitting your application, you should expect a response from us within a week after we’ve verified your identity. Your YouTrip Mastercard will be mailed to you in the next 2 – 3 weeks.
Try it now and receive up to S$100 in referral fees ($10 for each successful referral). Find out more about our referral programme inside the YouTrip app!
Enjoy a worldwide fees-less travel experience!