How to withdraw money from YouTrip: Transfer to bank account

If you have a balance on your YouTrip¹ card and you’re not planning on travelling anywhere in the near future, you may be wondering if it is possible to arrange a YouTrip transfer to your bank. The good news is that you can withdraw from YouTrip to a bank - but the bad news is that there are some restrictions to consider. This guide on how to transfer money from YouTrip to a bank walks through all you need to know.

Plus, we’ll touch on an alternative you might want to consider - the Wise account and card which lets you hold and exchange 40+ currencies with the mid-market rate and low fees², and withdraw to your SGD bank account whenever you want to.

Can I withdraw money from YouTrip in Singapore?

So, can I withdraw money from YouTrip, and what rules apply?

Of course, you’re able to make YouTrip ATM withdrawals when you’ve overseas - but fees may apply³, and this service isn't available in Singapore. So once you’re back in the country your primary option would be to withdraw money from YouTrip to a bank account, so you can spend or withdraw with your normal debit card.

As we’ve mentioned, it is possible to withdraw a balance from YouTrip Singapore - but only under specific circumstances. We’ll walk through the details in a moment, but the headline is that** you can only withdraw deposits made to YouTrip since July 22nd 2024**, and usually only if you’ve topped up from your linked bank account or with PayNow⁴.

Other top up types may not be eligible for withdrawal - more on that later.

What can I withdraw from YouTrip?

Here are the details of the YouTrip balance types which can now be withdrawn to a bank account. For these top up types to be eligible for withdrawal you will need to have received the money on or since July 22nd 2024.

Eligible balances for withdrawal include:

• YouTrip balances added using PayNow or your linked bank account
• Reversals from transactions paid for with eligible top ups
• Dispute credit or resolution and merchant refunds
• Insurance cashback
• YouTrip Surprise or Perks cashback

If you’ve used a debit or credit card to top up your account, or if you’ve been sent money by another YouTrip account holder, you can not withdraw the balance.

You can only withdraw a balance in SGD, so if you have another currency in your ewallet after a trip you’ll need to convert back to Singapore dollars before you process the withdrawal.

How many times can I transfer money out of YouTrip

You can make a withdrawal of your eligible balance up to ten times per month before fees apply. If you exceed this number you can’t use the normal withdrawal process any more that month. Instead, you’ll need to apply for a refund and pay the fee of 10 SGD.

How to withdraw money from YouTrip?

You can withdraw your eligible balance from YouTrip fairly easily as long as you have a PayNow number registered with the app.

To register for PayNow you’ll need to go to your bank’s online or mobile banking service and set up your service with either a phone number, NRIC or another proxy for identification. You can then use this PayNow ID to link with YouTrip for quick and easy withdrawals.

Once you’ve got your YouTrip linked to an active PayNow address, this is how to make a withdrawal:

1. Log into your YouTrip app and tap on 'Transfer'
2. Select ‘Withdraw to Own Account’ and enter the amount to withdraw
3. Select transfer method - either PayNow to your registered mobile number or your NRIC/FIN
4. Review the transfer request and slide to activate it

What are some restrictions for YouTrip transfers to a bank?

Let’s summarise the restrictions and requirements to be able to make a withdrawal from YouTrip to your bank:

1. You can only withdraw eligible balance amounts, usually top ups made with your linked bank or PayNow, after July 22nd 2024
2. You can only withdraw up to 10 times every month before fees apply
3. You’ll have to register for PayNow to facilitate bank withdrawals
4. You can only withdraw funds back to the bank account associated with your PayNow-linked mobile number or NRIC registered with your YouTrip account
5. You can also send a balance to another YouTrip user - but they will not be able to withdraw this money to their own bank account⁵

Send, spend, and hold up to 40+ currencies with limit-free withdrawals when using Wise

Open a Wise account online or in the Wise app, and order your Wise card for a low, one time charge. You can spend globally, manage your account with your phone, and withdraw to your bank in Singapore dollars as and when you like, with no restrictions.

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%. You can also use your account to receive payments from others with local account details in 8+ currencies and ways to get paid using SWIFT in other currencies, too.

All in all this gives a flexible, easy to use - and cheap - option for managing your money in SGD and other major currencies across 40+ countries.

🚀 Get started with Wise

How to withdraw money from your Wise account?

It’s pretty easy to make a withdrawal from a Wise account using the app, and there are no limits on how many times you can withdraw. There’s no fee from Wise to withdraw to your bank as long as no currency conversion is needed. Here’s what to do :

1. Log into the Wise app and go to the home page
2. Select the currency balance you want to withdraw from and tap Send
3. Choose the bank account you want to send your money to
4. Enter how much you’d like to withdraw
5. Confirm the payment and the money will be deposited to your selected account