iChange vs YouTrip - How do they compare? Find out more about exchange rates, fees, and more

If you’re in Singapore and need ways to manage your money across different currencies, for spending and sending payments, you may be interested in the similarities and differences between iChange¹ vs YouTrip². You can open an iChange wallet to get either a physical iChange debit card, or an iChange virtual card for convenient spending in 40+ currencies. Or, you may prefer YouTrip, which also offers physical and virtual card options and supporters holding 10 currencies in the wallet. Both providers offer some options for international remittances.

This guide walks through a quick comparison of iChange vs YouTrip, with a focus on how iChange works, including the iChange exchange rate and how to make an iChange ATM withdrawal. Plus, we’ll touch on an alternative you might want to consider - the Wise card which comes with a digital account to hold and exchange 40+ currencies with the mid-market rate and low fees³.

Table of contents
iChange vs YouTrip What is iChange? Is iChange the same as YouTrip? Is iChange legit? How to use an iChange debit card? iChange cash withdrawal iChange exchange rate Another money-changing alternative: iChange vs Wise

iChange vs YouTrip

Both iChange and YouTrip offer virtual multi-currency wallets you can use to hold, exchange and spend foreign currencies with a linked physical or digital card. There’s a fair bit of overlap in the wallet functions available - but they’re not exactly the same. Here we’ve set out a head to head comparison of iChange vs YouTrip to give an overview on some key features of each.

Want to learn more about YouTrip? This guide has more of a focus on introducing iChange - but we’ve got plenty of other helpful articles about YouTrip, too. Check out our full YouTrip review, take a look at our analysis of YouTrip vs credit card, or learn all about how to use YouTrip virtual card here.

	iChange	YouTrip
Eligibility	Residents of Singapore	Residents of Singapore and Thailand
Account maintenance fees	None	None
Freezing card	Freeze in app or online	Freeze in app or online
ATM fees	5 SGD⁴	Withdraw up to 400 SGD a month fee free5 2% fee after that ATM operator fees may also apply
Currency exchange fees	iChange rate applies, which may include a markup	Mid-market rate
Available currencies for holding and exchange	40+	10
Available currencies/countries for card spending	Spend wherever the network is accepted	150+ countries
Send payments overseas	Available for a broad range of destinations	Available in the 10 supported wallet currencies
Money changing marketplace	Available	Not available

What is iChange?

We’ll focus on how to use iChange in just a moment - first, a quick overview of the services available with iChange.

iChange is a forex specialist which offers various services to Singapore customers. With iChange you can:

• Access a money changing marketplace to view the available rates from different money changers and pick the best one for you
• Send money overseas to friends and family
• Get a multi currency wallet and debit card to hold and exchange 40+ currencies
• Make local and overseas bill payments in the iChange app
• Scan and pay with SGQR at hawker centers and other locations in Singapore

Is iChange the same as YouTrip?

As you can see, there are some similarities between YouTrip vs iChange. However, these are different companies with their own unique features. Here’s an overview:

iChange	YouTrip
Multi-currency wallet supports 40+ currencies	Multi-currency wallet supports 10 currencies
Physical and virtual debit cards available	Physical and virtual debit cards available
5 SGD ATM fee	Some free ATM withdrawals monthly before 2% fees begin
Send remittances to a broad range of countries	Send remittances in 10 currencies

Is iChange legit?

iChange offers their product via a range of partners such as Slide and Nium. These partners are licensed by the Financial Regulator in Singapore. When you hold money with iChange, the partners that iChange has will safeguard the funds separately to iChange’s own operating capital. This would reduce the risk of financial losses in the unlikely event iChange runs into financial issues themselves.

As with any financial service provider you'll need to take your own precautions to keep your account safe, and to use your account only within the provider's own terms of use.

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👀 On the lookout for a travel debit card? See how Wise compares to other competitors like YouTrip and Revolut

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How to use an iChange debit card?

When you’ve registered an iChange wallet account, you can also order a linked physical debit card, and generate a virtual card to use with a wallet like Google Pay or Apple Pay.

Your physical card supports contactless payments and can be used just like any other debit card. When you transact, funds are withdrawn from your iChange wallet to cover the costs of your purchase. If you’re overseas and spending in a foreign currency you hold in your account, the money for your payment is just deducted directly from that balance without any need for extra currency conversion.

How to use iChange cash withdrawal?

You can use iChange to withdraw money when you’re abroad. Simply use your physical iChange debit card in an eligible ATM. There’s a 5 SGD fee from iChange, and the ATM operator might also charge their own fee here. ATM withdrawals are not supported within Singapore, so this is only an option when you travel.

What is the iChange exchange rate?

iChange states that they offer the best exchange rate available in the market at the time you want to exchange currencies. They do this by comparing different money changing services and picking the most beneficial one based on the live rates they compare.

You’ll be able to see the available iChange exchange rate in the iChange app. It’s worth comparing the rate to the mid-market rate for your currency, which you can get from Google or using a currency converter tool. The mid-market rate is the one available on global markets for wholesale forex transactions - but it’s not always passed on to customers converting smaller amounts. Instead it’s common to find a markup is added - but as this markup can be variable, you may find you’re paying a pretty high fee without really noticing it.

Not all providers add a markup on the exchange rate used. Some, like Wise which we'll look at next, offer the mid-market exchange rate directly to customers, and split out the fee so you can see it more easily. That’s more transparent and it can keep down the costs too.

Comparing with another money-changing alternative: iChange vs Wise

Before you decide to use iChange, compare the services available with alternatives like Wise.

You can open a Wise account online or in the Wise app for free, and order your Wise card for a low, one time charge. Wise accounts can hold and exchange 40+ currencies, and use the mid-market exchange rate with no markup and no hidden fee - you’ll simply pay a small charge, which is split out from the rate applied, and which can be as low as 0.33%.

Wise accounts have powerful international features including ways to send payments quickly or instantly⁶ to 160+ countries globally, and ways to get paid to your account with local details for 19 currencies. Use your account to get paid by others, to send money to friends and family and to settle overseas bills. Then use your Wise physical or virtual card for convenient spending at home and abroad. Unlike iChange, Wise also offers some free ATM withdrawals every month, before any fee applies - making it cheaper to get cash when you need it overseas.

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Summary

While they do have some overlapping features and services, iChange and YouTrip are quite different companies.

iChange offers a money changing marketplace which lets you compare available rates from different money changers, and exchange 50+ currencies. You can also send payments overseas, and open an iChange wallet to hold and exchange 40+ currencies and spend with a linked physical or virtual debit card. iChange exchange rates are based on their comparison of the market - and may include a markup.

YouTrip wallets support 10 currencies for holding and exchange, and let you spend with a physical or virtual card. If you need to convert currencies the exchange rate you get is set by the card network provider, which usually means it’s pretty fair.

Both iChange and YouTrip are safe services - so which suits you might simply depend on your personal preferences. Before you decide, compare iChange vs YouTrip against Wise. Wise offers powerful international accounts which can hold and exchange 40+ currencies with the mid-market rate and low fees from 0.33%. You can also send money to 160+ countries, often instantly - and receive payments in 19 currencies with local account details. All in all, that makes Wise a very flexible service to manage your money here and when you travel.

The only multi-currency account and card you'll ever need
✍️ Sign up for Wise here!

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Sources:

1. iChange
2. YouTrip
3. Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
4. iChange FAQ
5. YouTrip FAQ - ATM fee
6. Speed: The speed of transaction claim depends on funds availability, approval by Wise's proprietary verification system and systems availability of our partners' banking system, and may not be available for all transactions