What is "locked-in exchange rate"?
The real-time market exchange rates get updated constantly. We will lock the exchange rate* once your payment setup is completed
The locked-in exchange rate will only be held until 9am SGT, the next business day ("locked-in period") - which is when your full payment amount is required to be transferred to us.
*We accept up to a 1% rate fluctuations in your locked-in rate. If the rate changes by more than 1% during the locked-in period, we will cancel and refund your payment.
Why is the locked-in exchange rate important to you?
While the market exchange rates get updated constantly, the amount required for your payment will change if there is no locked-in exchange rate.
The locked-in exchange rates ensure that your converted payment amount remains until the stipulated time so you don’t have to worry about rate fluctuations.
To ensure that your payment can be processed on time, send us the full payment amount immediately after creating the payment on CardUp. Select "FAST" option in your bank transfer setup, for instant transfer. Avoid using "GIRO" option as it delays the transfer.
How long does the rate get locked for my international payment when paying via bank transfer?
When you confirm the payment, we will display the date and time by which you need to send us the funds. The cut-off time is usually 9am SGT, the next business day. Therefore, you are recommended to use instant transfer, like FAST, to transfer the full amount to us immediately.
We do not process payments on weekends and public holidays.
What if I am unable to send the funds required for my payment before the cut-off time?
We will not be able to process your payment if the full amount does not reach us by the cut-off time. Your payment will therefore be cancelled.
If your payment is cancelled, the full amount will be refunded to your bank account as stated in your CardUp.
What if my payment setup falls on a weekend or public holiday?
We do not process payments on weekends or public holidays.
The earliest arrival payment date displayed to you during payment setup are based on business days.
For example, if you set up your payment on Saturday 9am, the cut-off time will be on Monday, 9am (the next business day)