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Hello,

From 28th Jan, there’ll be a new limit on how much you can hold, send and spend with your balance in TransferWise account.
Hello,


From 28th Jan, there’ll be a new limit on how much you can hold, send and spend with your balance in TransferWise account.

Hello,

From 28th Jan, there’ll be a new limit on how much you can hold, send and spend with your balance in TransferWise account.

What’s happening?

TransferWise is regulated by the Monetary Authority of Singapore (MAS). And the MAS has introduced a new regulation which imposes limits on how much you can hold, send, or spend with your balance. It’s called the Payment Service Act.


It applies to all personal mobile wallets in Singapore like TransferWise, GrabPay, and others.


How will this affect me?

You’ll be able to:

  • hold up to S$5,000 (or equivalent in other currencies) at the end of the day Singapore time

  • send or spend (on your TransferWise card) up to S$30,000 (or equivalent in other currencies) every 365 days

 
Was about to look into Transferwise as an alternative to CurrencyFair, but that limit is absolutely useless for my business requirements. Thanks for sharing, I won't bother looking into them now.
 
SilverDJ said:
Was about to look into Transferwise as an alternative to CurrencyFair, but that limit is absolutely useless for my business requirements. Thanks for sharing, I won't bother looking into them now.
Click to expand...

This limit only applies to accounts opened in Singapore.
 
it not even enough to cover two children expenses a year studying overseas
maybe each adult need to set up just cover for such purpose
limiting competition non the less
 
I got the TransferWise borderless account with a Mastercard debit card. They have a Monthly ATM withdrawal amount limit of only $350 AUD. That is so low it is hardly worth worrying about it. I will keep it anyway as a small amount back up card. But for transfers from AU bank account directly to an overseas bank account TransferWise is very good and beats all the major banks in AU.
 
5k each day, to transfer and pay for bullion, only good for 6 days to complete a 30k transfer. then rest 364 days...

or use TT or overseas bank account
 
Watch Live: Judy Shelton Faces Senate Banking Committee In First Test For Trump's Controversial Fed Nominee

 
"The PAPER & DIGITS speech was delivered by Judy Shelton, a former United States ... She decried the PAPER & DIGITS, concluding the speech, "you shall not crucify mankind upon a cross of PAPER & DIGITS".
There Judy, grow some B@LL$ & tell them a few home truths a la William Jennings Bryan. _JOHNLGALT.


William Jennings Bryan speech in 1923.
 
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