Payment Service Act
EZ-Link Wallet balance and annual top-up limits
1.1. Why is there an annual top-up limit for the EZ-Link Wallet and another limit for the maximum amount that the EZ-Link Wallet can hold?
The annual limit and maximum wallet amount is part of the requirements under Payment Services Act, which EZ-Link as a licensed Major Payment Institute is required to comply. .
The EZ-Link Wallet (EZL Wallet) is a digital wallet that allows you to keep prepaid electronic money (“Balance”) in the EZ-Link app. Hence, EZ-Link is required to comply with the limits set by MAS on the EZ-Link Wallet, to protect users and to prevent misuse.
EZ-Link Wallet Balance
The EZ-Link Wallet can hold up maximum value up to SGD$500.
For users who have completed the user identification process via MyInfo using the EZ-Link app, the EZ-Link Wallet will be upgraded and can hold up to SGD$5,000.
As the EZ-Link Wallet is regulated by MAS, EZ-Link has to comply with the wallet and transaction limits and perform user identification processes according to MAS regulations.
By knowing the identity behind each EZ-Link Wallet user, we are able to create a secure platform by mitigating the risks of fraud, identity theft, money laundering and other illicit activities.
EZ-Link Wallet Annual Top-up Limit
EZ-Link Wallet users can perform top-ups up to a limit of SGD$30,000 on an annual rolling basis. Your top-up will also be declined if you have already exceeded your annual top-up limit.
Your annual top-up limit will be on an annual rolling basis and will be tracked starting from the day which you perform your first top-up to your EZ-Link Wallet.