Grab to Charge $1 GrabPay Top-up Fee For Visa Credit Cards From 1 July 2022: Here’s How To Avoid Paying For It
Xue Miao●
Grab has been evolving so much recently.
From launching a card, introducing new features to the app, to going public through a special-purpose acquisition company (SPAC) deal…
In October last year, Grab announced that a $1 processing fee will be charged for Visa Credit Card GrabPay Wallet top-ups of $400 and below.
Unfortunately, the waiving of the fee for top-ups above $400 did not last long.
According to a notice on Grab’s FAQ page accessed on 29 June 2022:
This means that from this Friday (1 July 2022), you will have to pay a $1 processing fee for each Visa credit card GrabPay wallet top-up.
But fret not, there are ways around it.
Here’s a quick guide to which top-ups will be charged, and which would still be free.
TL;DR: GrabPay Top-up Fee — Grab To-up Charges For Visa Credit Cards Explained
| GrabPay Wallet Top-Up | Before 1 July 2022 | From 1 July 2022 |
|---|---|---|
| Will Be Charged $1 Processing Fee | Visa credit cards | All Visa credit card top ups will incur a $1 processing fee |
| Will Not Be Charged $1 Processing Fee | Visa 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 July 2022 to avoid the $1 processing fee.
How Do I Top-up My GrabPay for Free: Grab Top-up Credit Card Tips and More
Here are the ways to keep your GrabPay top-up free:
- Top up using Mastercard and American Express credit cards
- FYI: AMEX True Cashback (1.5% cashback) and the UOB Absolute Cashback Card (1.7% cashback) offer cashback for GrabPay top-ups
- Top up using debit cards
- Transfer from other GrabPay users
- Top up from your bank account via PayNow VPA or linked UOB accounts.
GrabPay Merchants and GrabPay Rewards
All of these seem pretty straightforward, right?
Once you top up your GrabPay wallet, you can use your GrabPay funds at GrabPay merchants and earn GrabPay rewards.
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!
How do I Top-up My GrabPay Free: PayNow VPA Explained
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 linking your PayNow VPA to your GrabPay wallet:
How Do I Top Up on GrabPay 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 of the destinations these funds can be transferred to:
| Destination | |
|---|---|
| PayNow-linked bank account | PayNow and Grab accounts need to be linked to the same mobile number |
| PayNow | PayNow-registered users via mobile number, NRIC/FIN, or Unique Entity Number (UEN) |
| Directly to Bank Accounts | Via 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 |
| Other Grab Wallet Users | Anyone with a valid Grab wallet |
| E-Wallets | Supported wallets: Singtel Dash, TransferWise, LiquidPay, MatchMove |
And a quick glance at which funds can be transferred out:
| What Funds From GrabPay Wallet Can Be Transferred Out? | ||
|---|---|---|
| Non-Transferable Balance | Transferable 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 |
| Balance | CANNOT 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 two transfers a day, and the maximum transfer amount is $5,000. This 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 Seedly Reviews to find out what kind of credit cards are available in Singapore and choose your favourite out of ’em:
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