Singapore-based multi-currency e-wallet YouTrip has announced a substantial increase in wallet holding and spending limits for its users effective immediately.

YouTrip users can now hold up to S$20,000 in their wallets, a significant jump from the previous S$5,000 limit, and have access to an annual spending limit of S$100,000, previously capped at S$30,000.

Alongside the increased limits, YouTrip has also introduced several anti-scam measures. The platform’s Fraud Monitoring System has been upgraded to more effectively analyse transaction patterns and identify potential fraudulent activities.

YouTrip now has a dedicated fraud reporting email channel, enabling users to report suspicious activities and receive round-the-clock support from the customer service team.

Additionally, the ‘Kill Switch’ feature has been introduced, allowing users to swiftly suspend their entire account in case of suspected compromise. This feature ceases all new transactions and logins, though YouTrip recommends it as a last resort due to its extensive impact on account accessibility.

Further securing user accounts, a 12-hour cooling-off period is now in place for new logins, aiming to prevent unauthorised access and changes to personal information.

The authentication process for updating contact details has been strengthened, offering additional protection against unauthorised changes.

Moreover, a new transaction limit of S$1,000 for YouTrip Send has been set, adding an extra layer of security against unauthorised peer-to-peer transfers.

Caecilia Chu, CEO and Co-Founder of YouTrip said,

“Previously, users expressed their desire for a higher flow cap limit to utilise their YouTrip wallet for purchases such as flight tickets, hotel accommodation and family expenses.

Now with the enhanced limits, it addresses a key pain point for our users who were previously curtailed by the lower caps.”

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• Source: https://fintechnews.sg/82626/e-wallets/youtrip-quadruples-wallet-size-to-s20k-spending-limit-now-s100k/