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YouTrip Mobile wallet

Jman888

By Jman888,
in Lite & EZ

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inlinesix

inlinesix

Hypersonic
On 6/13/2023 at 8:57 PM, jcmm said:

My wechat pay was linked to my Amex while Alipay with Visa. 

Can add money into wechat wallet?

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Jman888

Jman888

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On 6/13/2023 at 1:44 PM, Voodooman said:

I have used youtrip card to withdraw cash overseas but almost everytime there is a charge (by the ATM bank), save for in Japan whereas if you withdraw cash from ATM located in 7-11 stores, it is really free.

Would love to know how to avoid these withdrawal/ service charges while in Malaysia. 

the no fee in Japan only apply to the local bank admin fee or charges, the $5 per withdrawal fee on youtrip still apply before the latest announcement. 

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Voodooman

Voodooman

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On 6/13/2023 at 7:25 PM, Cheesey74 said:

Huh... i thought with the latest announcement, yt will be like revolut no more atm fees liao for sgd$400/month?

YT might waive the charges but additional charges may be applied by overseas banks, which will be typically displayed in ATMs before the withdrawal.

i have used Revolut and YT to withdraw cash overseas, only once in Japan’s 711 store i didn’t have to pay anything. 

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jcmm

jcmm

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(edited)
On 6/13/2023 at 9:08 PM, Wt_know said:

your wechat and alipay is "registered" or "activated" with msia tel no? 

Both with SG mobile. 

My Alipay account was activated years ago when they 1st started allowing adding Shanghai bank. Been using it till covid. Recently just added my cc.

Wechat pay was newly registered with my Amex. 

Edited by jcmm
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jcmm

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On 6/13/2023 at 9:10 PM, inlinesix said:

Can add money into wechat wallet?

I didn't transfer money to wallet and I think we can't do it with cc to wallet. 

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inlinesix

inlinesix

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On 6/13/2023 at 11:03 PM, jcmm said:

I didn't transfer money to wallet and I think we can't do it with cc to wallet. 

I can’t use wechat pay ever since my passport expired. My China bank account Kenna blocked now.

For Alipay, I added CC to make payment for TB

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Cheesey74

Cheesey74

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On 6/13/2023 at 9:42 PM, Voodooman said:

YT might waive the charges but additional charges may be applied by overseas banks, which will be typically displayed in ATMs before the withdrawal.

i have used Revolut and YT to withdraw cash overseas, only once in Japan’s 711 store i didn’t have to pay anything. 

Well, i have not done any overseas withdrawal before using my yt/revolut but my buddy always withdraw cash thru atm in msia using his revolut, so far there is no charges according to him, in fact yesterday we were in jb n he withdraw cash from a Public bank atm n later show me the transaction in his revolut app, really dun see any charges on it, just direct sgd to myr deduction only, very good rate at close to 3.43 ..

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On 6/13/2023 at 11:35 PM, inlinesix said:

I can’t use wechat pay ever since my passport expired. My China bank account Kenna blocked now.

For Alipay, I added CC to make payment for TB

I read online, cannot remember the details but someone called or emailed wechat support and got it resolved. 

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inlinesix

inlinesix

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On 6/14/2023 at 8:16 AM, jcmm said:

I read online, cannot remember the details but someone called or emailed wechat support and got it resolved. 

Since China bank Kenna blocked, cannot add money into the wallet.

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Mkl22

Mkl22

Supersonic
(edited)

Besides trying UOB cc on my Alipay, I also tried youtrip. Tried it 3-4 times at the costa coffee in Shanghai and it got bounced back on-site. In the end my youtrip card got charged 3 times and it took a week to get refunded. 
thus no luck with credit card linked to Alipay with stability yet. 
I have set transaction priority with UOB cc then wallet but for the last few transactions it always deduct the wallet. 

Edited by Mkl22
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Wind30

Wind30

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(edited)

Kind of curious, what is YouTrip business model as in how they make money. 

from their webpage they say they charge commission from merchants which is like normal credit card issued by bank. I can’t seem to see any competitive adv or innovation to be able to charge less than banks. Unless they are using the funds inside the wallets to invest which is like a bank? 
Is there any guarantee on the money put in by consumers? What happen if youtrip goes bankrupt?

Edited by Wind30
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Wt_know

Wt_know

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(edited)
On 10/26/2023 at 11:06 AM, Wind30 said:

Kind of curious, what is YouTrip business model as in how they make money. 

from their webpage they say they charge commission from merchants which is like normal credit card issued by bank. I can’t seem to see any competitive adv or innovation to be able to charge less than banks. Unless they are using the funds inside the wallets to invest which is like a bank? 
Is there any guarantee on the money put in by consumers? What happen if youtrip goes bankrupt?

FX spread and rate ... 

just like Raffles money changer ... all of them make millions and millions per year simply changing money ... no biz model ... sit there only

the spread and rate jiak beh liao ...

this also shows why money changer all millionaires ... because their "margin" is song song gao jurong ... and multiply by insane volume ... huat ah!

the only thing i hope for Youtrip is a wallet for RINGGIT ... DELAY NO MORE !!!

2023-10-26_111745.jpg

Edited by Wt_know
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serenade

serenade

6th Gear

You Trip FX spread is smaller than banks and credit card, but there is still a spread. Even a one cent spread either way on a daily turnover of $10 mio is $100,000. Then there is a 50% merchant fee earned when used to buy stuff. Their Treasury will invest the FX float for another income source. 

Just in case they go bust, card lost, or I am held for ransom, I top up my YT with just enough for my immediate local and FX needs. To cap my losses, if any to a small amount.   

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Wt_know

Wt_know

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max holding in wallet is only SGD$5K and per annum is only SGD$60K ... 

sup sup water ... not going to move the needle for money changer ... LOL

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Lala81

Lala81

Hypersonic
On 10/26/2023 at 11:39 AM, Wt_know said:

max holding in wallet is only SGD$5K and per annum is only SGD$60K ... 

sup sup water ... not going to move the needle for money changer ... LOL

If can penetrate into remittance, then got even bigger volume. I see foreign workers still go western union and queue up. 

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Wind30

Wind30

Turbocharged
On 10/26/2023 at 11:39 AM, Wt_know said:

max holding in wallet is only SGD$5K and per annum is only SGD$60K ... 

sup sup water ... not going to move the needle for money changer ... LOL

https://www.channelnewsasia.com/singapore/youtrip-series-b-funding-us50-million-profitable-travel-3871266
 

they are changing from 5k to 20k. Gov let them… that is why I am thinking what happens if they go bust. They are a private company right? Anything to stop them from using the wallets’ money to pay expenses like ceo salary? 
reminds me of the rental bike saga where people complain about losing their deposits… 

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