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18 Jun 2020
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The Payment Services Act (PSA) imposes limits on all Singaporean e-wallet users on how much money they can spend or hold in their e-wallet. This applies to all personal e-wallets including the MCO Visa Card.
Under the Payment Services Act, major payment institutions that carry on a business of providing an account issuance service must ensure that the currency equivalent of the e‑money contained and/or transferred in any period of one year in a personal payment account does not exceed the prescribed amount of S$5,000 and S$30,000.
For more information, refer to :
https://help.crypto.com/en/articles/3649774-lim...