Can I use CardUp to pay my personal tutors?
Unfortunately, we are unable to support payments to personal bank accounts for the purpose of paying personal tutors. As a regulated business under the Monetary Authority of Singapore (MAS), we are required to perform due diligence checks on the intended recipients of funds to ensure the highest levels of security and transparency in our operations.
Our payment service is primarily designed to support payments to business bank accounts only. There are certain payment types, such as rent and helper salary payments, that we do allow to be made to personal bank accounts, but these have all been thoroughly vetted and deemed suitable for our platform.
Payments to personal bank accounts for personal tutors do not meet the regulatory requirements set by the MAS.
Why can't you support payments to personal bank accounts for personal tutors?
As a regulated entity, we are required to follow the guidelines set by the Monetary Authority of Singapore (MAS) to maintain the highest levels of security and transparency in our operations. This means we need to perform due diligence checks on the intended recipients of funds.
Payments to personal bank accounts for the purpose of paying personal tutors do not align with the regulatory requirements we must adhere to. We can only support payments to business bank accounts, or to personal bank accounts for certain pre-approved payment types that have been deemed suitable.
Are there any exceptions or workarounds for paying personal tutors using CardUp?
Unfortunately, there are no exceptions or workarounds available for using CardUp to pay personal tutors. Our platform is designed to facilitate payments to business bank accounts only, in accordance with the guidelines set by the Monetary Authority of Singapore.
If you have any other questions or need assistance with making payments through CardUp, please don't hesitate to reach out to our Customer Experience Team at hello@cardup.co.