Singapore-based multi-currency e-wallet YouTrip has announced a substantial increase in wallet holding and spending limits for its users effective immediately. The revamped service allows users to hold up to S$20,000 in their wallets, a significant jump from the previous S$5,000 limit. Concurrently, the annual spending limit has been raised to S$100,000, up from the earlier cap of S$30,000.
In response to the new limits, YouTrip has also fortified its security with several anti-scam measures. The platform’s Fraud Monitoring System has been enhanced to better identify suspicious transaction patterns and potential fraudulent activities. Users are further supported with a dedicated fraud reporting email channel for immediate assistance.
YouTrip has introduced a ‘Kill Switch’ feature, allowing users to instantly suspend their accounts in the event of a suspected security breach. This feature halts all new transactions and logins and is recommended as a last resort action due to the significant impact on account access.
The introduction of a 12-hour cooling-off period for new logins is another step towards securing user accounts from unauthorized access. YouTrip has also implemented a more rigorous authentication process for updating contact details, offering users additional protection against unauthorized changes.
Further enhancing security, YouTrip has established a transaction limit of S$1,000 for its peer-to-peer transfer service, YouTrip Send, to protect against unauthorized transfers. These comprehensive measures aim to ensure a safer and more flexible financial environment for YouTrip users.
Caecilia Chu, CEO and Co-Founder of YouTrip, acknowledged the user demand for higher wallet and spending limits. The increase addresses a key concern for those who previously felt restricted by lower limits, especially for significant expenses like travel and accommodations.
