Launched in 2018, YouTrip is Singapore’s first multi-currency mobile wallet with linked Mastercard that allows you to pay in over 150 currencies when you’re shopping online or travelling abroad, without incurring currency conversion fees. YouTrip enables you to exchange and store 10 currencies on its app – enabling online shoppers, holidaymakers and business travellers to lock in competitive rates on-demand.
Members of the DollarsAndSense team have also personally used it on their overseas trips and wrote about it. You can read about Dinesh’s experience while on his United States travels, as well as Timothy’s Australia holiday using YouTrip.
How The YouTrip Card Works
As a YouTrip user, there are two components you’ll be using: The physical YouTrip card, which allows you to make contactless payments via the Mastercard network, and your YouTrip mobile wallet, which you can access and manage on-app.
Since YouTrip is a mobile wallet and not a credit card, you’ll need to make top-ups with a credit or debit card before you can use it to pay for anything. If you’re a frequent traveller or user, you should also note that there is a limit of $5,000 that you can hold at any point in time in your wallet, whether in Singapore Dollars or supported foreign currencies at any point. There is also a yearly transaction limit of $30,000.
After topping up your wallet, you can use your YouTrip card to pay in 150 supported currencies without incurring any fees, with the foreign currency conversion done at the point of purchase.
In addition, YouTrip allows you to monitor, exchange from SGD, and store 10 supported currencies: SGD, USD, EUR, GBP, JPY, HKD, AUD, NZD, CHF, and SEK. There are no additional fees for making conversions or payments. This is great if you are thinking of travelling to these countries (e.g. Japan) in the future and would like to exchange for foreign currency in advance if you see a favorable rate. The in-app money changer is available 24/7 for the 10 currencies currently offered.
Furthermore, you can use your YouTrip card to withdraw cash at all overseas Mastercard, Maestro or Cirrus ATMs outside of Singapore at wholesale exchange rates, though a withdrawal fee of $5 or foreign currency equivalent per transaction will apply. This makes it convenient in places where card payments may not be accepted and you may need to withdraw cash for payments.
To help you get started with registering for and using your very own YouTrip card (for free!), follow this step-by-step guide.
Step 2: Confirm that you are in Singapore. YouTrip is also available for those based in Thailand
Step 3: Enter your mobile number and e-mail address.
Step 4: If you’re a first-time user (and have not received your physical card, click on “Get A YouTrip Card For FREE”.
Step 5: If you’re a Singaporean, the simplest way to sign-up is to use SingPass MyInfo, where you don’t need to upload any further documents. The process is pretty seamless and sets a high bar for other apps’ sign-up and verification processes.
After logging into your SingPass and granting access to specific personal information about you (namely, your Name, NRIC, Gender, Date of Birth and Citizenship status), you can simply confirm the details.
If you are not a Singapore Citizen or Permanent Resident (PR), you need to upload a soft copy of your documents or snap photos of your physical documents to verify your identity. This can be done completely within the app. Accepted forms of identification include:
Step 6: You can now customise your physical YouTrip card with your name. Note that it has to be similar to your actual name, otherwise it might be rejected.
Step 7: Enter any promo code you have (optional) and confirm that you accept the terms and conditions. You can use the DollarsAndSense Promo Code – DNS5 – to receive an additional $5 in your YouTrip account.
DollarsAndSense Exclusive: Use the promo code DNS5 during this final step to receive an additional $5 in your YouTrip account!
Step 8: When you receive your YouTrip card, open the app and follow the on-screen instructions to activate your card.
Congratulations! You can top up money into your e-wallet and exchange it for one of the 10 currencies of your choice, pay in over 150 foreign currencies, and begin paying for your online shopping or at payment terminals that support MasterCard anywhere in the world.
Use the promo code DNS5 during your YouTrip registration to receive a welcome credit of $5 in your YouTrip account.
For Corporate Users
Businesses can also benefit from the seamless FX transactions, unlimited 1% cashback and save on fees with YouBiz, a corporate SME card developed by the same people at YouTrip. Use the promo code YBDNS30 during sign up to enjoy automatic credit of S$30 into your YouBiz account upon account approval and first card spend of $5 (virtual/physical).
This article was first published on 12 April 2019, and updated with the latest information.
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