Singapore’s first multi-currency mobile wallet with a prepaid Mastercard, YouTrip is ideal for both tech-savvy budget travellers and online shoppers alike. Enjoy the convenience of paying for your expenses overseas with 0% transaction fees.
Find out more about YouTrip’s mobile wallet and card features in further detail below and decide if it works for you.
Zyane Tan is an associate editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
Launched in 2018, YouTrip is a multi-currency mobile wallet that comes with a contactless prepaid Mastercard. Borne out of a collaboration between EZ-Link, Mastercard and You Technologies Group, YouTrip offers convenient payment solutions regardless of whether you’re shopping online or travelling abroad.
How does YouTrip work?
A mobile financial platform with a stored value facility and debiting feature, YouTrip allows you to manage up to 10 currencies within your account and transact in over 150 supported currencies without incurring any currency conversion fees.
When you register for a YouTrip account, you’ll gain access to a mobile wallet and a free physical YouTrip Mastercard, which you can use to make contactless payments on POS (point-of-sale) terminals worldwide as well as on EZ-Link readers on public transport in Singapore.
The app also comes with a host of convenient payment features, such as the conversion and storage of 10 different currencies, 24/7 in-app exchange rate monitor and locking in preferred rates.
What features are available with YouTrip in Singapore?
The YouTrip app is straightforward, user-friendly and comes with key features such as the following:
Make overseas payments. Spend in 150 supported currencies without any transaction fees at Mastercard’s wholesale exchange rate.
No currency conversion fees. Pay your overseas expenses or online purchases without incurring any transaction fees.
Doubles up as an EZ-Link card. You can use the YouTrip card for public transport and top up your card conveniently through the YouTrip app when your balance is low.
Store up to 10 different currencies in your account. You can monitor exchange rates, hold a balance or make an exchange between 10 currencies at any time.
International ATM withdrawals. You can withdraw cash from all overseas Mastercard, Maestro or Cirrus ATMs. Take note that there will be a $5 withdrawal fee (or equivalent in foreign currency) per transaction.
Manage your card and account. The YouTrip app allows you to view your balance, check your transactions and deactivate or replace your card anytime.
Can I withdraw cash with YouTrip from ATMs in Singapore?
Currently (May 2020), you’ll not be able to make cash withdrawals from local ATMs with the YouTrip card. However, this feature may be available in the future, so stay tuned for further updates.
Compare all YouTrip digital banks products in Singapore
Normally when you pay with your credit or debit card abroad, your card issuer will often impose additional fees, namely a cross-border transaction fee, a foreign currency conversion fee and a card company fee. Most of the time, financial institutions also use an exchange rate that’s less competitive than the standard rate.
With YouTrip’s prepaid Mastercard, you’ll be able to pay for both online and offline purchases worldwide in over 150 supported currencies, fee-free at wholesale exchange rates.
What is YouTrip’s in-app exchange?
You can monitor live exchange rates and convert from SGD to 10 other major currencies within the app. You can also lock-in a favourable rate in advance. This is especially useful if you’re travelling to countries that use the following currencies:
Singapore dollar (SGD)
United States dollar (USD)
Great Britain pound (GBP)
Japanese yen (JPY)
Hong Kong dollar (HKD)
Australian dollar (AUD)
New Zealand dollar (NZD)
Swiss franc (CHF)
Swedish krona (SEK)
What are the benefits of a YouTrip account?
YouTrip offers a wide array of benefits, such as:
Free to use. There are no card fees and no minimum balance required to maintain your account.
0% transaction fees. You can spend SGD (or your stored balance in another currency) without incurring any currency conversion fees.
Multi-currency wallet. You may store up to 10 currencies in your account and exchange them instantly.
Competitive conversion rates. Enjoy wholesale rates for over 150 supported currencies. The rates are very close to the amount listed on financial sites, XE.com and Google, typically with only marginal differences of 0.1% to 0.4%.
Overseas ATM withdrawals. You can withdraw cash at all Mastercard, Maestro or Cirrus ATMs outside of Singapore.
Use on public transport. You may use the YouTrip card for public transport by activating the Mastercard Account-Based Ticketing (ABT) function.
Convenient top-up. Reload your value anytime with any Singapore credit or debit card.
Instant notifications. You’ll receive mobile notifications instantly each time a transaction is made.
What should I look out for?
Benefits aside, YouTrip also has a few potential downsides to look out for:
Overseas cash withdrawal fee. A withdrawal fee of $5 (or an equivalent in the country’s local currency) per transaction will apply.
Unable to withdraw remaining balance. YouTrip is a one-way mobile wallet, which means that you’ll not be able to get the money you’ve deposited in your account even if you decide to terminate the card or stop using the app.
Account balance cap. You’re only allowed to top up a maximum of $3,000 into your account daily. A monthly reload limit of $30,000 and a yearly limit of $100,000 apply as well.
Daily spending limit. You can only transact up to $6,000 per day.
No card perks or rewards. YouTrip does not have any rewards programme, so you won’t accumulate points, earn rebates or miles when spending your money.
How do you sign up with YouTrip?
You will need to start by downloading the mobile app. Then simply follow its guided sign-up process. If you’re a first-time user, you’ll be able to order a free contactless YouTrip Mastercard and begin using your account once you receive it. Take note that the minimum top-up value to your YouTrip account is $20.
Download the YouTrip app from the iOS App Store or Android Play Store. Launch the app and begin your registration. Select your country of residence and click “Confirm”.
Enter the mobile number that you wish to use with YouTrip and click “Next”.
Input the six-digit code you receive on the mobile number you’ve provided in the previous step.
Next, you’ll be prompted to provide your email address.
If you’re a first-time user and have yet to receive your physical YouTrip card, click on “Get A YouTrip Card For FREE”. The card will then be mailed to your home address between 10 to 15 days. So if you intend to use it on your travels, make sure to order it in advance.
Select your residency and proceed with the registration.
If you’re a Singaporean, you have the option of signing up with SingPass MyInfo, which is an easy process and doesn’t require further documentation.
Log into your SingPass and grant access for YouTrip to retrieve your personal information (your name, date of birth, gender, NRIC and citizenship status). Confirm that the details are accurate and proceed.
Alternatively, you can choose to input your details manually. Input your name, click “Next” and you’ll be prompted to upload an image of the front and back of your NRIC.
Select your residency and proceed with the registration.
Select the type of pass you’re currently holding.
Next, you’ll be prompted to upload the soft copy of documents or take photos of your documents to verify your identity. All these can be done within the YouTrip app. Accepted forms of identification include your Employment pass, S-pass, EntrePass, student pass, dependents pass, long-term visit pass and training work permit.
You can now customise the physical card with your name. Make sure that the name you enter matches the name on your NRIC to avoid having the card rejected.
You’ll also need to input your NRIC number, date of birth and nationality as well as select your gender. Click “Next” to proceed.
If you have a promo code, make sure to enter it during this step. Confirm that you have indeed read, understood and accepted YouTrip’s terms and conditions.
Once you’ve clicked “Submit”, the app will display an acknowledgement of your application along with a reference number. You’ll also receive an SMS notification once your YouTrip Mastercard is on its way to you.
When you receive your YouTrip card, launch the app and enter the 10-digit number at the left bottom corner of your card to pair it with your account. You can now proceed to top-up money into your mobile wallet and utilise YouTrip’s functions!
How secure is YouTrip?
YouTrip was the first company in Singapore to be granted an electronic money (prepaid) licence from Mastercard to issue multi-currency prepaid cards directly to its users. This allows the company to assume the role as its own stored value facility holder. YouTrip is also a regulated remittance business with the Monetary Authority of Singapore (MAS).
On top of that, customers’ funds are held in segregated bank accounts, separate from YouTrip’s own company bank accounts. This means that your money will be protected even in the event that the company falls into insolvency.
In terms of mobile security, YouTrip’s app is protected by a password, face or fingerprint ID. If your card is lost, stolen or may have been compromised, you can lock and replace your card from the app immediately.
YouTrip earns its revenue by receiving a small commission paid to it by merchants each time you spend on your YouTrip Mastercard. However, YouTrip does not profit directly from users through any mark-ups on your purchases or exchange rates.
No, you don’t need to. The foreign currency conversion will be conducted at the point of purchase, so you can pay directly in over 150 supported currencies without incurring any fees.
If your YouTrip Mastercard was misplaced, stolen or compromised, make sure to deactivate the card from the app. If you’d like to order a new card, you’ll need to pay a $10 card replacement and delivery fee. The card replacement may be ordered directly through the YouTrip app.
Yes, you can top up your mobile wallet anytime through your app as long as you have access to the Internet and able to receive the OTP (One-Time PIN) that will be sent to your phone number as required by your credit or debit issuing bank.
As long as you’re a Singapore resident above the age of 15 with a valid NRIC or foreigner pass, you may apply for a YouTrip account. There is also no income requirement.
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