Starting today (Feb. 8), all Grab users can transfer their GrabPay wallets funds to their bank account via FAST and PayNow.
The funds can be transferred to:
- PayNow-linked bank account (both PayNow and Grab accounts need to be linked to the same mobile number)
- PayNow-registered mobile users
- Other bank accounts
- Other e-wallets in Singapore, such as Singtel Dash, TransferWise, LiquidPay, MatchMove
What can be transferred?
Do note that there are two types of GrabPay balances: Transferable and non-transferable.
Non-transferable balances involve top-ups by credit cards and foreign debit cards.
Transferable balances includes top-ups through local debit cards or QR codes.
A helpful table:
Via Grab.
How to transfer?
There are two steps to transfer the funds.
You have to fully verify your identity (using SingPass or to fill in a form) to upgrade to a Premium GrabPay Wallet, and set up your GrabPIN in order to make the transfer.
After doing so, you'll be able to access the 'Transfer' feature and see the transferable and non-transferable balance, as well as the different options to transfer to.
You can make up to two transfers per day. There is no minimum transfer amount, but the maximum transfer amount is S$5,000.
You can find out more here.
Top image: Grab, Joshua Lee.