YouTrip MasterCard Review: No Fees on FX Transactions

YouTrip MasterCard Review: No Fees on FX Transactions

Best low-maintenance travel debit card with no annual fee

Good for

  •  Individuals with high FX spend
  • Those who frequently travel

Bad for

  • Those who make frequent overseas ATM withdrawals
  • Individuals who typically have high account balances

Editor's Rating

4.0/5.0

The YouTrip MasterCard is great for individuals who spend a lot of money overseas. Linked to a digital wallet, YouTrip allows account holders to spend in over 150 different currencies with absolutely no fees on their FX spend. This gives individuals the opportunity to freely shop internationally without having to worry about any additional costs. The YouTrip debit card is convenient for local travel as well, as cardholders can pair their EZ link to their card. Even better, YouTrip has virtually no fees associated with it, which makes it a great, low maintenance travel debit card.

Table of Contents

  • What Makes YouTrip Stand Out?
  • YouTrip Fees
  • How to Apply

    ProsCons
    • 0% transaction fees in 150+ Currencies
    • No Annual Fee
    • No fees on currency exchange
    • S$5 Overseas ATM Withdrawal Fee
    • S$5,000 limit on wallet balance
    • In-app exchange limited to 10 currencies
    Promotions:

What Makes YouTrip Stand Out

Individuals that shop overseas in foreign currencies will benefit greatly from this card. In contrast to its digital wallet competitors who typically charge between 0.44% - 2.2% on currency exchange transactions, YouTrip does not charge any fx fees. An additional standout to YouTrip is that it has very few fees associated with its use. In addition to having no fees on overseas transactions and currency exchange, there is no annual subscription fee and no fee for replenishing your balance. Individuals also have access to real-time, mid-market and Mastercard rates when exchanging currencies in their digital wallet.

However, there are a few downsides to YouTrip. For any overseas ATM withdrawals, YouTrip charges a flat S$5 fee. This presents an issue for travellers who prefer to use cash on their trips. Other digital wallets on the marketplace allow up to a certain dollar amount before issuing any type of fee. Additionally, there is a S$5,000 limit on an individual’s digital wallet balance. This digital wallet allows account holders to store 10 different currencies (AUD, GBP, SGD, USD, JPY, SEK, EUR, CHF, HKD and NZD), which is one of the lower limits in comparison to other digital wallets on the market.

YouTrip Fees

A YouTrip Account holder has very few fees to worry about as there is no annual fee, overseas transaction fee, currency exchange fee, or top-up fee. Below are the fees included with this card:

  • ATM Withdrawal Fee: S$5
  • Card Replacement Fee: S$10
  • Refund Processing Fee: S$10

How to Apply for YouTrip

There are two ways in which you can apply for a YouTrip account. The first option is to apply with your MyInfo account. This helps speed up the application process as most of the information required can be provided from your MyInfo. The second option is to apply using your NRIC.

Applying With MyInfoApplying with the Standard Application
  • Download YouTrip
  • Enter your mobile number
  • Select ‘For Singaporeans’
  • Select the option for MyInfo
  • Log in with your SingPass account
  • Review the information that is being shared
  • Submit
  • Download YouTrip
  • Click on ‘Sign Up for Free’
  • Submit the information on your NRIC
  • Take photos of your NRIC on the app
  • Enter your name and the rest of the personal information
  • Submit

Generally, it may take anywhere from 2-14 business days to process an application, depending on volume. After your account is approved, the card should arrive around 5-8 business days.

YouTrip Eligibility Requirements

In order to be eligible for this digital wallet, YouTrip has a simple requirement in order to apply. Applicants must be at least 15 years of age with a valid NRIC or FIN. Similar to other digital wallets on the market, there is no income requirement to apply.

How To Close Your YouTrip Account

The closing process for a YouTrip account is quite simple. You must email [email protected] with your personal information and request to have your account closed.

When closing an account you have 30 days to refund your remaining balance, otherwise YouTrip can claim the balance. To request a refund after closing your account, you must submit a refund application form. YouTrip charges S$10 for refund processing.

Alex Noonan

Alex is a Junior Research Analyst at ValueChampion, analyzing various financial decisions for consumers in Singapore, from which credit cards provide the best values, how to maximise value of miles and other personal finance matters. Previously an SEO Analyst at a New York based fin-tech company, specializing in small business advice, he has extensive experience in content production & web optimization. He is a recent graduate of Rutgers University, with a major in Supply Chain Management.

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