SG Multi Currency War: Revolut vs YouTrip vs Transferwise vs InstaRem

Something Exciting Is Brewing.

In October 2019, we’ve got a jam packed month for the Top Contributors in our Seedly community.

We’re partnering with some really exciting FinTech companies who are launching new Challenger Bank products and services in the market.

What Is The Idea Of A Challenger Bank?

Challenger banks are small, recently-founded digital-first, retail banks and wallets that compete directly with the longer-established banks in the country, sometimes by specialising in areas underserved by the “big” banks.

Over the United States and Europe, there are many competitors playing in this space to get the attention of largely millennial customers and audiences.

Most of the companies we’re partnering for this series specialise in some form of Multi-currency, Foreign Exchange (FOREX) play which help consumers save money on expensive bank exchange rates, charges, and have value added features which put them in a unique position.

Introducing Seedly Contributors Exclusive Meetups

We’ve been working hard behind the scenes to organise private beta meetups for our Seedly Top Contributors (level 4), who are always keen to get first dips on the latest advancements in the space.

Who Are The Main Singapore Players?

There are 4 main digital multi-currency wallet Fintech companies which has either launched, or launching in Q4 2019 (really soon).

We’ll cover these in greater depth on our Seedly Blog when they reveal more information overtime and give our full analysis on these players.

Here’s the schedule: 

Even before they go live in the whole Singapore market, you will get to try these products first hand, and write your reviews on Seedly.

What Will Happen At The Meetups?

Each meetup is only capped at around 30 pax, to keep things cozy and intimate!

Here are some activities which will take place:

• Company introductions
• Beta previews (early waitlist access)
• Competitions and Giveaway (including card top-ups)
• Ask-Me-Anything with product and marketing teams
• Food & Drinks (sponsored by FinTech host)
• Exclusive and Limited edition company merchandise
• Office tours

Excited? Lock down those dates above in the month of October 2019!

I’m Interested, How do I get tickets?

Simply become a Level 4 contributor on Seedly!

• Answer questions on your favourite topics
• Write Reviews on Savings accounts, Credit cards, Mobile plans, electricity retailers and many more

Share your answers and reviews via your social media and get your friends to give you ‘Upvotes’. 

If you get more than 20 upvotes, you’ll be a Level 4 contributor and you’ll have lifelong access to all closed door meetups as seen above!

We’ll send out the emails to contributors in early October, so get cracking!

Further Reading: The 4 Multi-currency Companies In Detail

Revolut – Global fee-free spending (2 Oct, 7pm)

Founded in 2015, Revolut believes in global spending and transfers without unnecessary exchange rates – enabling anyone to live like a local wherever they are.

At the Seedly Top Contributors meetup, they’ll be launching the Revolut VISA card, which comes in Standard, Premium and Metal, which will you will be able to transact in more than 150 currencies and store in over 14 currencies on the digital wallet.

Transferwise: A cheaper, faster way to send money abroad (15 Oct, 7pm)

TransferWise is a remittance company that strives to help its customers transfer money across borders at the lowest possible cost.

• Send: TransferWise is upto 7x cheaper than banks, and PayPal
• Spend: Hold and convert in 40+ currencies with TransferWise Platinum Mastercard, and spend in 150+ currencies around the world
• Withdraw: Free cash withdrawal of uptown S$350 overseas
• Receive: Receive money like a local, for free with free banking details for USD, GBP, EUR, AUD, and NZD.

At the Seedly Top Contributors meetup, they’ll be sharing about the Transferwise platinum Mastercard, a new flagship product which will simplify overseas travel spending.

InstaRem: Global transfers made easy (25 Oct, 7pm)

InstaReM was founded in 2015 in Singapore with a mission to improve the cross-border payments experience for consumers in the APAC region.

At the Seedly Top Contributors meetup, they’ll be launching a consumer card, which is a one of a kind travel centric card that allows users to simplify their wallet and add their bank and credit cards through Instarem’s mobile app. The card also offers competitive Fx rates on overseas spending. 

Their platform has allowed them to create a wide range of payments services grouped into three categories:

• Send – real-time cross-border payments, local ACH payments, sending funds to a Visa debit card, remittance as a service, remittance apps, embeddable payouts, AP tool integrations
• Spend – BIN sponsorship, B2B commercial payments, employee expense cards, supplier card payments, customer cards, and UTAP.
• Receive – Collection via virtual accounts and cards, split payments, invoice collection, personal fund collection, invoice collection, marketplace/website payments, automated receivables tracking and master merchant solutions.

YouTrip: The First Multi-currency wallet in Singapore (29 Oct, 7pm)

No stranger to most Singaporeans by now, and claiming to have over hundreds of thousands of users in Singapore. They have a one-year headstart on the rest of the competition.

It will really be interesting to see how they can extend their lead vs the rest!

YouTrip is developed by You Technologies Group Limited. Based in Hong Kong and Singapore. Started in 2016 in with a core focus on travellers.

At the Seedly Top Contributors meetup, they’ll be sharing some new features and improvements to their consumer travel card.