How will the payment services act impact multi-currency cards like youtrip/revolut? Is there going to be a limit to how much money I can spend? - Seedly
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Multi Currency Cards

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Anonymous

Asked on 13 Jan 2020

How will the payment services act impact multi-currency cards like youtrip/revolut? Is there going to be a limit to how much money I can spend?

What are some foreseeable impacts on multi-currency cards that will be caused by the implementation of the payment services act?

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JL
Jayden Lee
Level 5. Genius
Answered on 03 Feb 2020

For most of them, the maximum balance you can hold in your wallet is S$5,000 and the maximum amount you can spend from the card is S$30,000 annually.

No local ATM withdrawals too.

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For YouTrip, the daily transaction limit is SGD6,000. For Revolut, the limit will depend on your subscription.

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