Have you felt a sudden midnight craving for a snack or a beverage of hot chocolate, but there was nothing in the pantry? Or you were too lazy to cook or meal-prep after a long day’s work?
However, you may want to think twice before jumping on the wagon of ‘convenience’.
The costs of food delivery have been rising along with the increased demand!
Here’s a detailed breakdown of the costs you may incur when you are ordering with GrabFood. You may be shocked by how much extra you’re actually paying!
BigPay is a new mobile wallet that has entered the rather saturated sector.
With so many mobile wallet and cards in the market, what makes BigPay stand out among the crowd?
Here’s how this card works and whether it’s worth using:
BigPay Review
BigPay is another multi-currency card worth considering, especially since you are able to withdraw from your BigPay wallet. However, the rewards for using this card is not as attractive compared to other debit and credit cards out there.
Here is BigPay reviewed in-depth:
What is BigPay?
BigPay is a mobile wallet with a digital prepaid card issued by AirAsia. It aims to challenge the banking systems by giving you full control of your money.
Initially, it started off in Malaysia in 2018, where AirAsia is based in. However, it has since expanded into Singapore as well.
BigPay is not a bank. They are a financial service provided by AirAsia to challenge the banking system and make spending easier for you.
How do I get a BigPay card?
You can receive your BigPay card by mail after following these steps:
Sign up for BigPay
Top up minimum $20 to your card
Receive your card via delivery
Start spending with your BigPay card
#1 Sign up for BigPay
You will first need to sign up for a BigPay account.
You can use my promo code ‘HPJJIDK7B4‘ when you sign up. You will receive SGD$5 credited to your wallet once you activate your card!
You will also need to verify your identity by uploading your NRIC.
#2 Top up your card
After uploading your NRIC, you will need to top up $20to your card before it will be delivered to you.
You can top up your BigPay card using a debit or credit card. Currently, BigPay only accepts top ups from Mastercard or Visa cards.
You are unable to top up your BigPay card using an AMEX card.
You will also not be charged any fees for topping up your card.
When I topped up my BigPay card using the JumpStart debit card, I was able to receive the 1% cashback! This is an added bonus as I do not receive the cashback when topping up my YouTrip card.
#3 Get your card delivered
You will need to wait for your card to be delivered.
It took 6 days for my card to be delivered to me.
After receiving your card, you will need to enter the CVV to activate it.
#4 Start spending using your BigPay card
Once you’ve activated your card, you will be able to start spending!
You will need to activate Visa payWave when you make your first transaction. For this transaction, you will need to enter your PIN.
What can I use the BigPay card for?
Here are the 3 main ways that you can use your BigPay card:
#1 Local spending
You are able to use your BigPay card for any contactless transactions. Your BigPay card will work like any other Visa card that you have.
As such, you can use your BigPay card in any shops or online merchants that accept payWave as a payment method.
Since BigPay does not charge any fees, you can leave the bank fee as 0.
You will receive a notification whenever you make a payment with your BigPay card.
You can also view the exchange rate that BigPay used for your transaction.
Without having to spend any foreign conversion fees, your overseas transactions will be much cheaper!
Use the country’s local currency
When you are making an overseas transaction, don’t forget to ask the cashier to pay in the country’s local currency.
For example, if you are in the US, you should request to pay in USD instead of SGD. This will allow BigPay to use Visa’s exchange rate at the point in time of the transfer.
Exchange of currency is only done when the merchant settles the payment
The exchange rate that you ultimately will use very much depends on the merchant. If the merchant settles the payment immediately, you will use the exchange rate at that point in time.
If the merchant decides to settle the payment later, the exchange rate will only take effect at that time.
As such, you may make a slight gain or loss, depending on the exchange rates.
You can’t store multiple currencies in the BigPay wallet
For other multi-currency cards like YouTrip, you are able to store 10 different currencies in your mobile wallet.
However, this feature is not available with BigPay. You can only convert to the foreign currency when you make the transaction.
#3 ATM withdrawals
You are able to use BigPay to make ATM withdrawals overseas. You can only withdraw up to SGD$2,500 in the foreign currency of your choice.
However, you are unable to make any withdrawals with your BigPay card at a Singapore ATM.
Fees for ATM withdrawals
The first ATM withdrawal that you make is free. However, you will incur a 2% transaction fee for every other withdrawal you make.
What features are available on the BigPay app?
Here are some features that BigPay offers you:
#1 View your transactions
You are able to view your transactions all in one place.
This will help you to keep track of your spending when you use your BigPay card.
#2 Earn AirAsia BIG points when you spend
BigPay is part of AirAsia. As such, you are able to earn BIG points when you spend using your BigPay card.
For every $5 that you spend, you will receive 1 BIG point.
Your points will be credited to your account within 5-7 working days.
These BIG points can then be redeemed for flights to certain destinations.
The exchange rate for the BIG points is pretty low. Moreover, your points will expire within 24 months!
The good thing is that you can stack the BIG points with other rewards points you can earn, such as:
Google Pay will send your money to your friend’s bank account that is linked via PayNow.
2. Local bank transfer
You can send the money in your BigPay wallet to a local bank account.
However, you will be charged a $1 fee for any transfer.
You may also want to note that you will not be awarded any BIG points when you make a transfer with your BigPay account.
3. International bank transfer
You are also be able to make an international bank transfer with BigPay. You can see the exchange rate and fees that BigPay will charge you.
There are 10 different countries where you can make a transfer to:
Australia (AUD)
Bangladesh (BDT)
China (CNY)
India (INR)
Indonesia (IDR)
Malaysia (MYR)
Nepal (NPR)
Thailand (THB)
The Philippines (PHP)
Vietnam (VND)
For your very first international bank transfer, you will not be charged any fees.
For any subsequent remittances, you will be charged a fee based on the country that you remit to.
Country
Remittance Fee
Malaysia
SGD$1
Indonesia Nepal India Bangladesh
SGD$3
Vietnam
SGD$4
Thailand
SGD$5
Australia
SGD$6
China
SGD$8
These remittances fees are a flat fee instead of other services that charge you a percentage. As such, the higher the amount that you remit, the more worth it the remittance fee will be.
Are there any limits for the BigPay card?
Here are some limits that you may encounter with the BigPay card:
Limit
Amount (SGD)
Spending Limit
SGD$30,000 for next 12 months from first transaction
ATM Withdrawal Limit
SGD$2,500 per day
Daily Spending Limit
SGD$300 per day
Maxmimum Amount In Card
SGD$5,000
Transfer Limit (Singapore)
SGD$100 daily and not more than SGD$300 monthly
Transfer Limit (Other Countries)
SGD$5,000 daily and not more than SGD$10,000 monthly
As such, BigPay is a regulated and approved mobile wallet that you can use in Singapore.
BigPay allows you to lock your BigPay card
If you have misplaced your BigPay card, you are able to use the freeze function in your BigPay app.
This will prevent anyone from spending the money you have in your BigPay wallet.
BigPay is a prepaid card
Your BigPay card is also a prepaid card that is not linked to any bank account. As such, the maximum amount that you can spend is the amount in your BigPay wallet.
Is the BigPay card worth getting?
Here are the main points about this prepaid card and mobile wallet:
#1 A multi-currency card with no foreign exchange fees
BigPay’s main selling point is that you are able to make overseas transactions without incurring foreign exchange fees.
However, you are unable to store foreign currency in the card, which can be found in other cards like YouTrip and MCO.
Your SGD will only be converted to the foreign currency when the transaction goes through.
#2 The rewards aren’t that enticing
The exchange rate for BIG points ($5 spent for 1 point) is rather low. There are many other debit cards that provide better benefits, such as:
As such, there is no compelling reason for you to use your BigPay card for local transactions.
#3 You are able to withdraw your money into a bank account
Your BigPay wallet is a prepaid wallet. However, it does allow you to withdraw your money to a Singapore bank account for $1.
GrabPay and Singtel Dash also allow you to withdraw your money in their mobile wallet. However, there are certain requirements you’ll need to meet first!
#4 Remittance services may be useful
BigPay provides remittance services that they claim to be cheaper than banks. This might be useful if you want to reduce your fees when remitting money overseas.
However, the fees thatBigPay charges is a flat fee. As such, other remittance services with a percentage fee may be cheaper if you are only remitting a small sum.
#5 Other services are only useful if you use the BigPay card for all of your spending
BigPay gives you some really useful features to track your spending, such as:
Expenditure tracking
Ability to export your reports to PDF or CSV
Upload receipts to your transactions
However, these features will only be useful if you use your BigPay card for all your spending.
Since the rewards are pretty unremarkable, I would not think that you will use your BigPay card frequently.
Conclusion
The BigPay card provides an interesting alternative to other multi-currency cards out there. It does have some useful functions like tracking your expenses.
However, the rewards that come with using your BigPay card aren’t really that enticing. There are many other cards out there that can provide you much better rewards!
As such, I believe that BigPay will be most useful for you if:
You make a lot of overseas transactions
You need to remit money to other countries
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
BigPay referral code (Get $5 credited to your BigPay account)
If you are interested in signing up for the BigPay card, you can use the promo code ‘HPJJIDK7B4‘ when you sign up. You will receive $5 in your BigPay wallet after you’ve activated your card!
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You will then be redirected to the bank’s login page to facilitate the transfer.
You will be issued a QR code to let the merchant scan
After you have transferred the money to SoCash, you will be given a barcode to let the merchant scan.
After the merchant scans your barcode, you will be issued your cash!
You can use SoCash directly from Standard Chartered’s mobile banking app
If you only have a Standard Chartered bank account, you can use SoCash as well. You can tap on the SoCash button to access this service.
The process will be same as using the other 3 banks (OCBC, DBS or ICBC).
You cannot use a UOB bank account to withdraw money with SoCash
Unfortunately, you are unable to use a UOB bank account with SoCash. It is still possible to withdraw from your UOB bank account using UOB Contactless ATM instead.
SoCash expands the places you are able to withdraw cash from
SoCash helps to convert your local stores into virtual ATMs. As such, this really makes cash much more accessible for you!
Despite being really convenient, there are some things you may want to take note about SoCash:
The app can be quite laggy and the overall user experience is rather poor
The minimum withdrawal is $10 and you can only withdraw in multiples of $10
You can read my full review on SoCash to find out more about this service. You will receive a $3 bonus off your first withdrawal when you sign up using my referral code!
#2 OCBC PayAnyone
You are able to use OCBC PayAnyone to withdraw cash from any OCBC ATM without your card!
Tap on ‘Withdraw Cash with OCBC PayAnyone’ at the bottom left corner of the screen
When you want to use an ATM, you will usually slot in your ATM card. Instead, you will need to tap on the ‘Withdraw Cash with OCBC PayAnyone‘ button on the screen.
A QR code will then be displayed on the screen. All you will need to do is to scan the QR code with the PayAnyone app.
After selecting your withdrawal amount, your cash will be issued from the ATM!
Here’s a demo on how this service works:
However, here are some things you may want to take note about this service:
You are unable to choose the denomination of notes that you will receive
You cannot withdraw cash from overseas OCBC ATMs or UOB ATMs that are shared with OCBC
The daily withdrawal limit is $1,000
The withdrawal limit of your PayAnyone app and your ATM card are different
You can only use the PayAnyone app and not OCBC’s mobile banking app to make a withdrawal
You cannot withdraw money from your child’s CDA account
No fees for using the service
You also will not incur any extra fees when you use OCBC PayAnyone to withdraw. This helps to make withdrawing money much easier!
This is the same technology being used for other mobile wallets like Google Pay.
Here are some of the steps that you will need to do to carry out a contactless withdrawal.
1. Add your card to a mobile wallet
To use this function, you will need to add your UOB debit or credit card to a mobile wallet.
Currently, there are 19 cards that support this function:
UOB One Card
UOB PRVI Master Card
UOB PRVI Visa
UOB YOLO Card
UOB Lady’s Card
UOB Delight Credit Card
Singtel-UOB Card
UOB Preferred Platinum Visa Card
UOB Visa Signature Card
Metro UOB Card
UOB Visa Infinite Metal Card
UOB Professionals Platinum Card
UOB Debit Card
UOB Lady’s Debit Card
UOB Delight Debit Card
UOB Direct Visa Debit Card
KrisFlyer UOB Debit Card
KrisFlyer UOB Credit Card
Mighty FX Card
If you have an Android phone, you can use the Mighty Pay app to add your UOB ATM card. This way, you are able to withdraw money with your ATM card even if you do not have the physical version!
If you are using a credit card, you will have to link your card to a UOB savings account first. To do so, you would need to go to a UOB branch to carry out the linkage.
3. Download a mobile wallet
The type of mobile wallet you can use depends on your phone’s OS:
Phone OS
Compatible Mobile Wallets
iOS
Apple Pay
Android
Mighty Pay Google Pay Samsung Pay Fitbit Pay
You will have more options for mobile wallets if you are using an Android phone.
4. Find a compatible contactless ATM
To conduct a contactless withdrawal, you will need to locate a contactless ATM. These ATMs are equipped with a contactless reader with NFC capabilities.
You can now perform your withdrawal using the steps below:
No fees to use this service
Similar to the other services above, you will not be charged a fee for this contactless withdrawal service.
#4 Link your credit cards for ATM use
Did you know that your credit and debit cards can be used to withdraw from ATMs too? All you’ll need to do is to link your card to a current or savings account with that bank.
Here are the methods that you’ll need to use for each bank:
Once you’ve linked your card, you will be able to use it as an ATM card as well.
Conclusion
The FinTech revolution has changed the way we can gain access to cash. We now have much more options to choose from whenever we need cash upfront!
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With the launch of many multi-currency cards in Singapore, we are now spoilt for choice. 2 of the more popular cards are YouTrip and the MCO Visa Card.
Which of these cards is better and which one should you choose? Here’s a complete breakdown between both of these cards.
After topping up your GrabPay wallet, you may be looking for a way to withdraw your unused cash to your bank account.
Is this possible? Here’s what you need to know:
Can I withdraw money From my GrabPay Wallet in Singapore?
You are able to withdraw your money from your GrabPay wallet to either your bank account, a PayNow registered user or another e-wallet. However due to regulatory reasons, you cannot transfer funds that you topped up using a credit card or a foreign debit card.
When you are topping up your GrabPay wallet with a credit or debit card, you may see the ‘transferrable‘ symbol.
If you’re card does not have this symbol, the funds that you top up to your GrabPay wallet can’t be withdrawn out!
Instead of sending your GrabPay wallet funds to another GrabPay user, you now have the option to send to other destinations:
Bank accounts
A registered PayNow user
Other e-wallets
This makes the funds in your GrabPay wallet much more flexible! You can transfer it to another destination, instead of it being just locked up in your GrabPay wallet!
How to transfer money from GrabPay to bank account
Here are 7 steps you need to do to transfer your money from your GrabPay wallet to your bank account:
Verify your identity and set up your GrabPIN
Go to ‘Payment → Transfer’
Select ‘Bank Account’ as your funds’ destination
Add an account via PayNow or using a bank account number
Enter the amount that you wish to transfer
Enter your GrabPIN
Receive confirmation of your transaction
#1 Verify your identity and set up your GrabPIN
Before you can transfer any funds out of your GrabPay wallet, there are 2 steps you’ll need to do:
You’ll need to verify your identity, which is a requirement of MAS. This allows Grab to be a secure platform, where they can identify who the money is being transferred from.
To verify your identity, you can use MyInfo or Singpass on the Grab app.
You’ll also need to set up a GrabPIN, which adds one extra layer of security. You will be prompted to enter your GrabPIN to confirm each transfer you make out of your GrabPay wallet.
#2 Go to ‘Payment → Transfer’
You’ll need to go to the Payment tab on the Grab app and tap on ‘Transfer’.
If you do not have the ‘Transfer’ button, it means that the feature is not yet available for your account.
#3 Select ‘Bank Account’ as your funds’ destination
You can select ‘Bank Account‘ as your funds’ destination.
Alternatively, you can transfer the money to your linked PayNow account as well.
You are only able to transfer your transferable balance to these destinations. For credit card or foreign debit card top-ups, they will form your non-transferable balance.
You can’t withdraw your non-transferable balance!
#4 Add an account via PayNow or using a bank account number
If this is your first time sending to a bank account, you’ll need to add these details first:
You can choose to add an account from either a:
PayNow mobile number / NRIC / UEN
Bank account number
You are able to transfer your funds to any bank that supports FAST transfers in Singapore. There are 23 banks that are part of the FAST network, including:
Unfortunately, you can’t transfer your GrabPay funds to an overseas bank account! You can only transfer it to a local Singapore bank account.
#5 Enter the amount that you wish to transfer
You can choose the amount that you can withdraw from your GrabPay wallet.
Grab does not have a minimum transfer amount! I was able to transfer out the 8 cents that I had in my GrabPay wallet.
However, you can only transfer the funds from your transferable amount. The funds that you used to top up with your credit card cannot be transferred out!
#6 Enter your GrabPIN
You will need to enter your GrabPIN to confirm the withdrawal.
#7 Receive confirmation of your transaction
You will be shown a confirmation of your transaction on the Grab app.
After I made the request, the money was transferred to my bank account!
Where else can I transfer my GrabPay funds to?
Besides transferring your GrabPay funds to a PayNow user or bank account, there are 2 other ways:
#1 Other mobile wallets
You can transfer your funds to 5 other mobile wallets, such as:
You will be transferring to the mobile wallet that is linked to the mobile number that you provided.
#2 Transfer to another GrabPay wallet user
You can transfer your funds to another GrabPay wallet user. The funds will be found in their GrabPay wallet.
What are the limits for withdrawing my money from GrabPay?
While you are now able to withdraw your money from GrabPay, there are still some limits are present:
#1 You cannot transfer out top ups from credit cards
One of the ways that you can top up your GrabPay wallet is by your credit card. However, this will go into your non-transferable balance.
You are unable to withdraw the amounts that you’ve topped up with your credit card!
You may use your credit card to top up your GrabPay wallet to receive certain rewards. However, you won’t be able to withdraw the funds from here!
The only way you can use these funds is either to spend on Grab services or to put it inside AutoInvest.
Nevertheless, you still can get rewards if you use credit cards like the AMEX True Cashback Card to top up your GrabPay wallet.
#2 Maximum of 2 transfers to bank account or e-wallets per day
You can only use this function twice a day to transfer to your bank account or e-wallet.
This may be a limitation if you are constantly using this withdrawal feature.
#3 No minimum transfer but maximum of $5,000 per transaction
The good thing about this withdrawal is that there is no minimum amount to use it. Even if you have a few cents like me, you are still able to withdraw that amount!
This will help you to withdraw any spare cash you have lying inside your GrabPay wallet!
Moreover, the maximum of $5,000 per transaction is rather high. You should not really exceed this amount when you want to make a withdrawal!
Conclusion
The addition of this withdrawal feature has made the GrabPay wallet much more flexible. GrabPay will still store your funds, unlike other mobile wallets like:
The only major disadvantage is that you can’t withdraw the funds that you topped up using a credit card. Besides that, this is really a great step forward for GrabPay!
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