Wechat wallet

[froztheart]

Pardon my ignorance but is there any advantage to top up wechat compared to linking CC?
Have been using the link CC method over the last few years with no problem (though I read that now cannot use YT for wechat)

Yes, some cannot be paid with international card linked to Wechat for payments. I believe the wallet top up will be the workaround.

 

[klavier]

Platform fee (Alipay and WeChat Pay) 3% for a foreign-issued international credit or debit card for payment > RMB200.

Oh so besides saving 3% fee when making payment in China, I can actually also save on the 3% platform fee should I use WeChat to pay for my buys on taobao for example? That would be welcomed.

 

[s7460597]

https://www.dbs.com.sg/personal/cards/debit-cards/dbs-unionpay

Maximise savings of up to 5% Cashback PLUS a 3% transaction fee waiver via Alipay or WeChat Pay for your spending in China, exclusively with your DBS UnionPay Platinum Debit Card

Cashback is applicable with a min. spend of S$400 on UnionPay spend per calendar month. Cashback is capped at S$50 per calendar month

 

[yhw22]

Pardon my ignorance but is there any advantage to top up wechat compared to linking CC?
Have been using the link CC method over the last few years with no problem (though I read that now cannot use YT for wechat)

Conversion rate by shopping platform maybe low, whereas using top-up, you can see the rate during top-up and decide whether to top-up or not. So you can control the conversion rate.

 

[froztheart]

Conversion rate by shopping platform maybe low, whereas using top-up, you can see the rate during top-up and decide whether to top-up or not. So you can control the conversion rate.

This a good point too, essentially stocking up RMB when rates are good.

 

[galant22]

Yes, some cannot be paid with international card linked to Wechat for payments. I believe the wallet top up will be the workaround.

topped up the wallet liao, after trip how to withdraw the funds out?

 

[froztheart]

topped up the wallet liao, after trip how to withdraw the funds out?

Can;'t withdraw out unless you have China bank account. To my knowledge:
1. WIthdraw to own China bank account/people you know that can transfer back to equivalent
2. Spend it locally in SG using wallet balance as payment.

 

[galant22]

Can;'t withdraw out unless you have China bank account. To my knowledge:
1. WIthdraw to own China bank account/people you know that can transfer back to equivalent
2. Spend it locally in SG using wallet balance as payment.

can number 2 be done? i thought its for foreign accounts only?

 

[16/8IF]

can number 2 be done? i thought its for foreign accounts only?

You can use your wallet on PDD .

 

[yhw22]

You can use your wallet on PDD .

or taobao too. any online or offline that allow you to use WeChat Pay. Note that offline stores used in SG will have an exchange rate again, so it will be low again.

or send to fren.

 

[koolkool]

Hi. I read a lot recommends using the maribank transfer method + maribank cc (for the 1.5% cashback) but there wasn't much discussion or excitement on the DBS Union pay debit card promo which has a 5% cashback and waives 3% if transact RMB200 and more using WeChat pay or alipay. Even if I account for the foreign exchange fees of 3.5%, shouldn't this option be at least on par with the former method? Just wondering. I thought doing away with the need to always be mindful of what payment method to choose is pretty good especially there are 101 things to worry in a holiday trip.

 

[s7460597]

Hi. I read a lot recommends using the maribank transfer method + maribank cc (for the 1.5% cashback) but there wasn't much discussion or excitement on the DBS Union pay debit card promo which has a 5% cashback and waives 3% if transact RMB200 and more using WeChat pay or alipay. Even if I account for the foreign exchange fees of 3.5%, shouldn't this option be at least on par with the former method? Just wondering. I thought doing away with the need to always be mindful of what payment method to choose is pretty good especially there are 101 things to worry in a holiday trip.

Cashback min spend of S$400 per calendar month. Called at $50 per month.

Basically must spend rmb2,160

Spend up to rmb5400 to get the S$50 Cashback

 

[vuzuuu]

What is the highest exchange rate for the week?

 

[koolkool]

Cashback min spend of S$400 per calendar month. Called at $50 per month.

Basically must spend rmb2,160

Spend up to rmb5400 to get the S$50 Cashback

Ah, I see. I will be travelling to China in Dec. 4 of us for 13 days. I suspect I should be able to chalk up min $400 with daily meals and attraction tickets. I will go for this and have the maribank + cc as backup. Thanks.

 

[yhw22]

Ah, I see. I will be travelling to China in Dec. 4 of us for 13 days. I suspect I should be able to chalk up min $400 with daily meals and attraction tickets. I will go for this and have the maribank + cc as backup. Thanks.

you may want to try top up to see when is the best rate.

 

[koolkool]

you may want to try top up to see when is the best rate.

Thanks. Haven't apply for the card.
I found a uob union pay credit card that doesn't have min spend, fx fees waived, no 3% transaction fees in WeChat pay for greater than 200 RMB and has 2% cashback.overall seemed a better deal than DBS Union pay. Seemed like the completion is hotting up among the banks for china tourists

 

[sbl2560]

Thanks. Haven't apply for the card.
I found a uob union pay credit card that doesn't have min spend, fx fees waived, no 3% transaction fees in WeChat pay for greater than 200 RMB and has 2% cashback.overall seemed a better deal than DBS Union pay. Seemed like the completion is hotting up among the banks for china tourists

I do have reservations, in terms of exchange rate for UOB union pay vs others. Unless someone whom have an UOB Union Pay card, able to perform a transaction and indicate the exchange rate.

For DBS Remit to Wechat wallet. The exchange rate isn't as good as Maribank, as a comparison, in terms of figures.

 

[yhw22]

Thanks. Haven't apply for the card.
I found a uob union pay credit card that doesn't have min spend, fx fees waived, no 3% transaction fees in WeChat pay for greater than 200 RMB and has 2% cashback.overall seemed a better deal than DBS Union pay. Seemed like the completion is hotting up among the banks for china tourists

it is thru bank transfer top-up method. no need apply card.

 

[vuzuuu]

it is thru bank transfer top-up method. no need apply card.

I have done 3 overseas transfers from sg Maribank to Wechat wallet, the highest rate is 5.23 follow by 5.20. And I also tried one transfer from POSB saving account to Wechat wallet which only gave 5.19. Topping up the wechat wallet will give me ease of mind for my coming trip to Hubei next week. Besides, linking my Maribank and Youtrip card to Wechat and Alipay and I also found out OCBC app allows me to scan the China QR code for any transaction. If you have an OCBC saving account and OCBC app, just scan the China QR code for any purchases, it's kinda backup when both wechat and alipay are not working.

 

[Oldliao]

I have done 3 overseas transfers from sg Maribank to Wechat wallet, the highest rate is 5.23 follow by 5.20. And I also tried one transfer from POSB saving account to Wechat wallet which only gave 5.19. Topping up the wechat wallet will give me ease of mind for my coming trip to Hubei next week. Besides, linking my Maribank and Youtrip card to Wechat and Alipay and I also found out OCBC app allows me to scan the China QR code for any transaction. If you have an OCBC saving account and OCBC app, just scan the China QR code for any purchases, it's kinda backup when both wechat and alipay are not working.

Thanks for sharing. The Maribank forex you share above, how do they compare with Youtrip or Trust?

Once we load up wechat wallet, is there a way to toggle between using the wallet (for eg, for purchases above RMB 200) and using wechat pay linked to my Youtrip for smaller purchases?