You already know that YouTrip is a multi-currency mobile wallet that can help you save, with great wholesale exchange rates and zero transaction fees — but there’s more. Here are all the key things you need to know about YouTrip.
You’re now a master at avoiding the pesky additional fees and getting the best value out of every dollar paid in foreign currency. However, since our entry into the fintech arena about three years ago, we’ve added more functions to our card. With PayNow, YouTrip Send, 3DS authorisation, an abundance of referral programmes, and more — keep your app updated and this page handy for easy reference, ensuring that you’re always getting the most bang for every buck spent.
Why YouTrip?
Before the Covid’19 pandemic, did you know that Singaporeans were said to make up to five trips a year? And while travel was off the table for more than a year, most of us seamlessly transitioned over to our next favourite pastime — shopping. Online shopping, to be precise. Retail therapy is great for relieving stress, but are you aware of the additional fees and mark-ups on exchange rates you pay when spending on foreign e-commerce sites?
Enter: YouTrip. Not only is this card the perfect solution to your wanderlust, YouTrip 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 — since you can be sure you are getting the best value out of your dollar.
Here’s everything you need to know about Singapore’s first ever multi-currency wallet built for travellers and online shoppers alike!
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 Android operating systems. Every YouTrip app is linked directly to a contactless Mastercard®, which is free upon sign-up with no registration or annual card fees.
And with travel back on everyone’s minds, while we’re off booking our next flight to our dream destinations, keep in mind that the YouTrip Mastercard helps makes payments a breeze in over 150 currencies and 30 million merchants worldwide. We’re not just talking about 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 purchases. What’s the typical price you’d have to pay when going cashelss abroad? That depends on the card you use and the way you choose to transact (i.e., with or without DCC), as these can 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 of what you pay in SGD for a 500 Euro purchase overseas:
2 Ways To Top Up:
PayNow (S$1 minimum)
Any Singapore debit or credit card* (S$20 minimum)
*Do note that from 1 August 2021, all YouTrip account top-ups made using a Visa credit card will be subjected to a S$1 processing charge to cover the costs imposed by our service provider. However, Visa debit card users will not be subjected to this charge. Continue to top up for free via PayNow, Mastercard debit/credit cards, and Visa debit cards!
PayNow is great for a couple of reasons. There’s a minimum of just S$1 for every top-up which is good for on-the-go small purchases. Plus, there’s no need to input bank or card details! Simply refresh the app, and select ‘Top up’ for a slide-up panel that will have the PayNow option at the top — and shop now!
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 be sure to lock-down a good rate when you see one. It’s convenient and easy too at just a swipe of a button on your app.
YouTrip exchange rates are also constantly updated every second so you can be sure to get only the ‘real’ exchange rates wherever and whenever. In case you’re unsure of what’s a good rate, simply check it out on Google as it usually displays interbank rates before any markups are made by retail banks and money changers.
Need to 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.
New Wallet / Annual Spend Limits in a Nutshell:
✅ Your wallet limit is capped at S$5,000
✅ Your annual spend is capped at S$30,000
❌ There is no daily spend limit
Your wallet limit refers to how much you can hold or withdraw per day in cash from an overseas ATM. If you’ve lost count, don’t worry. We’ve got an Online Payment & ATM Alert to ensure that you’re kept up-to-date on all of your online transactions and ATM withdrawals in the past 24 hours via an e-statement consolidated daily.
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 instantly.
Managing your daily expense budget is now easier than ever. Simply login to your YouTrip app to view your transaction history at a glance. No more waiting for your card statements and managing clunky PDF documents.
Transaction Search
Say goodbye to those tiresome scrolls — the next time you’re in search of a specific transaction, simply look for that new magnifying glass icon at the top-right corner of your screen, beside the YouTrip logo, to begin your search! You can search using any of the following fields: merchant name, location, currency code, amount, or date.
YouTrip Send
TLDR: You can now send money through 10 wallet currencies to other YouTrip users instantly, with no fees (we use real-time wholesale exchange rates) and no lag time or delays.
YouTrip Send is especially great for reimbursing your friend when making group purchases with others from an overseas online store to save on shipping costs. And don’t forget to use it when sending money to loved ones or family overseas!
All you have to do is update your YouTrip app and you’ll find a new button at the top of your home page labelled ‘Send’. Tap on it and grant YouTrip access to your contacts. Just make sure that your recipient is a YouTrip user and you’re good to go!
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.
3DS Authorisation For Payments
You’re probably already familiar with 3D Secure, a verification step that helps to ensure that you’re really the one behind the screen when making a purchase. Either way, you’ll be glad to know that it’s a here-to-stay function for every YouTrip card — especially since online fraud has become more prevalent in recent years.
As to how it works, after entering your YouTrip card details and confirming the purchase, you’ll be prompted via a push notification on your phone to authenticate the payment on your YouTrip app. Just log in to the app and you’ll be greeted with a pop-up window that will allow you to verify and either approve or reject the payment. Et voila! You’ve secured that purchase.
All It Takes Is 3 Minutes
In case you didn’t know, YouTrip is completely free! There are no minimum income requirements, account fall-below fees, or annual card membership fees. All you’ll need to do is to download YouTrip to register, wait to get verified and you’ll receive your spanking new YouTrip card in the mail within the next two to three weeks!
If you still haven’t gotten your free YouTrip card yet, sign up now! Don’t forget to check out our YouTrip Perks page for exclusive offers and promotions too! For more great tips and articles like this, join our Telegram(@YouTripSG) and subscribe to our free weekly newsletter here or down below!
And while you’re at it, why not join the conversation with thousands of #YouTroopers in our very own Community Telegram Group @YouTripSquad? Get tips and tricks to everything YouTrip including exclusive invites to exciting events and experiences, & be part of the #YouTripSquad! 💜
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