facebookGrab To Charge $1 for GrabPay Top-Ups: Here's How To Avoid Paying for It
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Grab To Charge $1 for GrabPay Top-Ups: Here's How To Avoid Paying for It

profileXue Miao
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Grab has been evolving so much recently.

From launching a card, introducing new features to the app, to going public through a SPAC deal…

Recently, Grab announced that a $1 processing fee will be charged for GrabPay Wallet top-ups, starting 1 June 2021.

Source: Giphy

Here’s a quick guide to which top-ups will be charged, and which would still be free.

TL;DR: All About Grab’s New $1 Processing Fee for GrabPay Wallet Top-Ups

GrabPay Wallet Top-Up
Will Be Charged $1 Processing FeeVisa credit cards
Will Not Be Charged $1 Processing FeeVisa credit card top ups of $400 and above
Top up using Mastercard and American Express Credit Card
All debit cards
Transfer from other GrabPay users
Top up From Bank Account via PayNow VPA or Linked UOB Accounts

In short, do not top up your GrabPay wallet with a Visa credit card!

So if you have a Visa credit card that is linked to your GrabPay wallet, do change it out before 1 June 2021 to avoid potential processing fees.

How To Keep Your GrabPay Top-Ups Free

1) Top up using Mastercard and American Express credit cards

2) Using Visa Credit Card for top-ups of $400 and above

3) Top up using debit cards

4) Transfer from other GrabPay users

5) Top up from bank account via PayNow VPA or linked UOB accounts

All of these seem pretty straightforward, right?

Other than PayNow VPA which might seem a little foreign…

If you’re wondering what that is, here’s a quick introduction!

What Is PayNow VPA?

According to Grab’s website, PayNow VPA refers to PayNow Virtual Payment Address, which is a unique identifier that can be linked to GrabPay wallets.

Once it is linked, PayNow transfers can be made to your VPA from your preferred banking app.

It is similar to how we make PayNow transfers using mobile numbers!

You can set a PayNow VPA to top up your GrabPay wallet straight from your bank.

Using this method will allow you to still top up your GrabPay wallet for free.

Here’s a quick guide to set up PayNow VPA:

Source: Grab
Source: Grab
Source: Grab
Source: Grab

Moving GrabPay Wallet Funds With Transferrable Balances

In case you missed it, Grab users can transfer the funds from their GrabPay wallet to their own bank account, other bank accounts, and e-wallets in Singapore.

A quick recap to the destinations these funds can be transferred to:

Destination 
PayNow-linked bank accountPayNow and Grab accounts need to be linked to the same mobile number
PayNowPayNow-registered users via mobile number, NRIC/FIN, or Unique Entity Number (UEN)
Other Bank AccountsVia the recipient’s bank name, account number and account holder’s name

Supported banks:
1) DBS Bank/POSB
2) OCBC Bank
3) United Overseas Bank
4) Standard Chartered Bank
5) CIMB Bank
6) Citibank NA
7) Citibank Singapore Ltd
8) ANZ Bank
9) Deutsche Bank
10) HL Bank
11) The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (HSBC)
12) HSBC Bank (Singapore) Limited
13) ICICI Bank Limited Singapore
14) Industrial and Commercial Bank of China Limited
15) Maybank Singapore Ltd
16) Malayan Banking Berhad
17) Mizuho Bank
18) Bank of China
19) RHB Bank
20) BNP Paribas
21) Sumitomo Mitsui Banking Corporation
22) The Bank of Tokyo Mitsubishi UFJ
23) Sing Investments & Finance Ltd
E-WalletsSupported wallets:
Singtel Dash, TransferWise, LiquidPay, MatchMove

And a quick glance of which funds can be transferred out:

What Funds From GrabPay Wallet Can Be Transferred Out?
Non-Transferable BalanceTransferable Balance
Wallet Balance Is Topped up By- Credit Cards
- Foreign Debit Cards
- Local Debit Cards
- Top up via QR Code (PayNow UEN)
- Top up via PayNow VPA
- Top up via UOB host-to-host
- Funds received via P2P
- Admin top ups, appeasement, marketing incentive top ups
BalanceCANNOT be transferred out via Peer to Peer or cashout to bank account

CAN be used to pay for Grab services e.g. rides, GrabFood, etc.
CAN be transferred out via Peer to Peer or cashout to bank account

CAN be used to pay for Grab services e.g. rides, GrabFood, etc.

You can make up to 2 transfers a day, and the maximum transfer amount is $5,000, which is the same as the GrabPay Wallet spending limit.

E-Wallets in Singapore: Top-Up Fees Soon?

We’ve seen the rise in digital wallets and mobile payment options, providing us with a wide range of modes of payment today.

And we don’t really see processing fees for top-ups made to these wallets for now.

Let’s hope it stays this way…

If you’re looking for a credit card to use with your e-wallets, we’ve got you covered too!

Head over to SeedlyReviews to find out what kind of credit cards are available in Singapore and choose your favourite out of ’em!

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About Xue Miao
A millennial who is learning to adult. She doesn't believe in the rat race and hopes to live on a farm someday.
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