Mother and father, you probably have children youthful 12 years previous, then examine your LifeSG app the place you need to have acquired your S$500 per baby by now.
In case you’ve already acquired yours, word the expiry date of 6 July 2026.
However if you happen to don’t need to danger having your S$500(+) credit expire nugatory simply since you forgot to make use of them on time, then a neater manner could possibly 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 possibly can convert your LifeSG credit into money – both by utilizing Sheng Siong’s Easy Teller Machines ($0.20 service charge applies) or by way of 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 possibly can then withdraw as money at an ATM or switch into your baby’s financial savings account to let it develop.
In case you’re an everyday reader of this weblog, you must also have already got a YouTrip account by now as I’ve been overlaying it as an abroad spending hack since 2019. Nonetheless, if you happen to’re new, you possibly can 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 examine how a lot you’ve acquired. This could present up on your private home display screen and you need to obtain $500 per baby (youthful than 12). I’ve 2 sons, so I acquired $1,000 from the federal government right here.
In case you don’t see the credit, ask your partner to examine their LifeSG app as a substitute. It is rather possible they’re the designated trustee of your baby’s CDA (moderately 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 “High Up” and key within the quantity you’ll prefer to withdraw, then click on “Generate QR Code”.
You’ll be prompted to save lots of 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 stability 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 by way of your cell quantity or NRIC/FIN. As YouTrip is a MAS-regulated monetary entity, guarantee that your YouTrip title matches your checking account!
Failing to take action might end in switch points, which you’ll need to resolve manually with the YouTrip group by writing in to buyer@you.co.
In case your difficulty occurs on the LifeSG app, then you possibly can contact them at helpdesk@life.gov.sg to examine on any lacking credit.
Switch to your baby’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 Youngster Improvement Account to earn compounding curiosity over the following few years.
You too can withdraw it as money at any ATM – watch how I did that on this video beneath!
Whether or not you decide 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 if you happen to’d moderately not withdraw as money and preserve it inside your LifeSG app to spend immediately, then that’s additionally another 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 Improvement (MSF)’s checklist of eligible utilization right here.
As an alternative, 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 choice.
Right here’s a number of concepts, however word that the checklist will be fairly infinite:
- Payments: by way of AXS machines on your utilities, electrical energy, bank card or every other payments
- Groceries: FairPrice, Sheng Siong, Chilly Storage, Big, 7-11
- Bookstores: In style, Kinokuniya
- Meals & Eating: Ya Kun, Toast Field, Sushiro, McDonald’s, Burger King, Koi, Chagee, Mr Coconut, and so forth. Be aware that if you happen to’re unable to pay on your hawker meal utilizing LifeSG credit, it’s possible as a result of the hawker QR code is tied to their private quantity moderately than a company UEN.
- Buying: Uniqlo, and so forth.
You too can pay on your baby’s training charges at any enrichment centres that provides PayNow UEN QR or NETS QR fee. The probabilities are infinite.
In my case, I attempted utilizing it at In style to purchase some books and it went via with none glitches.
Some retailers may also launch LifeSG-related promotions within the coming weeks to entice you to spend your credit with them, so you could need to preserve 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 need to suppose an excessive amount of about it. On the identical 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. In case you don’t have already got the LifeSG app put in in your telephone, obtain the official one out of your Apple App Retailer / Google Play Retailer. You too can try my earlier article right here on what else you are able to do together with your LifeSG app (spoiler alert: seek for preschools, examine your baby’s medical appointments or immunisation data, e-book an ActiveSG sports activities facility, and so forth!)
I hope this text helps you with redeeming your LifeSG credit so that you just don’t allow them to expire nugatory. In any case, on the subject of free cash from the federal government, simply take!
Share the phrase with any of your folks who’re mother and father 🙂
With love,
Daybreak
