Dad and mom, if in case you have children youthful 12 years outdated, then test your LifeSG app the place you need to have obtained your S$500 per little one by now.
If you happen to’ve already obtained yours, be aware the expiry date of 6 July 2026.
However for those who don’t wish to threat having your S$500(+) credit expire nugatory simply since you forgot to make use of them on time, then a better means might be to withdraw your LifeSG credit as money to your checking account.
A step-by-step information to withdrawing your LifeSG credit as money
There are 2 methods you may convert your LifeSG credit into money – both through the use of Sheng Siong’s Easy Teller Machines ($0.20 service payment applies) or through YouTrip to your checking account.
I choose utilizing YouTrip since you’ll be capable to get the cash straight into your checking account, the place you may then withdraw as money at an ATM or switch into your little one’s financial savings account to let it develop.
If you happen to’re an everyday reader of this weblog, you also needs to have already got a YouTrip account by now as I’ve been masking it as an abroad spending hack since 2019. Nonetheless, for those who’re new, you may join a free account and get $5 utilizing my referral hyperlink right here!
Log into your LifeSG app
First, log in to your LifeSG app and test how a lot you will have obtained. This could present up on your own home display screen and you need to obtain $500 per little one (youthful than 12). I’ve 2 sons, so I obtained $1,000 from the federal government right here.
If you happen to don’t see the credit, ask your partner to test their LifeSG app as a substitute. It is vitally doubtless they’re the designated trustee of your little one’s CDA (slightly than you) so the funds will go to their LifeSG account as a substitute.
Generate a QR fee code in your YouTrip app
Subsequent, log into your YouTrip account to generate a QR fee code, which you’ll use to scan in your LifeSG app later.
Click on on “Prime Up” and key within the quantity you’ll prefer to withdraw, then click on “Generate QR Code”.
You’ll be prompted to avoid wasting the QR code to your gallery.
Scan your fee QR code together with your LifeSG app
Now head again to your LifeSG app and scan that YouTrip QR code utilizing the “Scan QR code to pay” function.
Be certain that the payee exhibits up appropriately (YOU TECHNOLOGIES, UEN 201628225CFAS) earlier than you click on to verify.
The cash ought to present up in your YouTrip steadiness inside a minute or two – in my case, it took lower than 10 seconds.
Then, click on on “Switch” and choose “Withdraw to Personal Account”.
You may both PayNow to your self through your cell quantity or NRIC/FIN. As YouTrip is a MAS-regulated monetary entity, be sure that your YouTrip title matches your checking account!
Failing to take action might end in switch points, which you will want to resolve manually with the YouTrip group by writing in to buyer@you.co.
In case your challenge occurs on the LifeSG app, then you may contact them at helpdesk@life.gov.sg to test on any lacking credit.
Switch to your little one’s checking account or withdraw as money
As soon as the S$500(+) of credit have landed in your checking account (our switch was nearly instantaneous), you might be free to spend it utilizing your debit card, switch to your child’s Baby Growth Account to earn compounding curiosity over the following few years.
You may as well withdraw it as money at any ATM – watch how I did that on this video beneath!
Whether or not you choose to maintain it as digital money in your checking account or withdraw as bodily money to make use of in your pockets, you’re now formally free from the expiry date of those LifeSG credit!
However for those who’d slightly not withdraw as money and maintain it inside your LifeSG app to spend immediately, then that’s additionally an alternative choice. On this case, my recommendation is to set a calendar reminder for 1 month earlier than your credit expire nugatory, so that you don’t find yourself forgetting about your cash fully.
How and the place to spend your LifeSG credit
LifeSG credit are much more versatile than CDA monies, as you’re not restricted by the Ministry of Social and Household Growth (MSF)’s listing of eligible utilization right here.
As a substitute, LifeSG credit can be utilized at any service provider in Singapore (bodily or on-line) that has a PayNow UEN QR or NETS QR fee possibility.
Right here’s a number of concepts, however be aware that the listing will be fairly limitless:
- Payments: through AXS machines to your utilities, electrical energy, bank card or some other payments
- Groceries: FairPrice, Sheng Siong, Chilly Storage, Big, 7-11
- Bookstores: Well-liked, Kinokuniya
- Meals & Eating: Ya Kun, Toast Field, Sushiro, McDonald’s, Burger King, Koi, Chagee, Mr Coconut, and so on. Observe that for those who’re unable to pay to your hawker meal utilizing LifeSG credit, it’s doubtless as a result of the hawker QR code is tied to their private quantity slightly than a company UEN.
- Procuring: Uniqlo, and so on.
You may as well pay to your little one’s training charges at any enrichment centres that provides PayNow UEN QR or NETS QR fee. The chances are limitless.
In my case, I attempted utilizing it at Well-liked to purchase some books and it went by with none glitches.
Some retailers may additionally launch LifeSG-related promotions within the coming weeks to entice you to spend your credit with them, so you could wish to maintain a lookout for these too.
In the meantime, right here’s one such deal which I noticed.
Personally, I opted to withdraw my LifeSG credit as money into my checking account to spend by ourselves in order that we don’t must suppose an excessive amount of about it. On the similar time, we topped up my children’ funding account with S$500 every so that it’s going to develop and compound right into a a lot larger sum for them over time.
P.S. If you happen to don’t have already got the LifeSG app put in in your cellphone, obtain the official one out of your Apple App Retailer / Google Play Retailer. You may as well try my earlier article right here on what else you are able to do together with your LifeSG app (spoiler alert: seek for preschools, test your little one’s medical appointments or immunisation information, e-book an ActiveSG sports activities facility, and so on!)
I hope this text helps you with redeeming your LifeSG credit so that you just don’t allow them to expire nugatory. In spite of everything, with regards to free cash from the federal government, simply take!
Share the phrase with any of your pals who’re dad and mom 🙂
With love,
Daybreak
