DOES BOLT MONEY HAVE A LICENSE FROM MAS?
Bolt Money is regarded as a stored value facility under Singapore law. HITPAY PAYMENT SOLUTIONS PTE LTD., the holder of the Bolt Money stored value facility, does not require the approval of the Monetary Authority of Singapore. Consumers (Users) are advised to the terms and conditions carefully.
WHAT ARE THE BALANCE AND TRANSACTION LIMITS ON
BOLT MONEY ACCOUNTS?
The maximum balance that can be held in a Bolt Money account is S$999. There are no monthly transfer limits imposed on Bolt Money Accounts.
ARE THERE ANY FEES INVOLVED WITH BOLT MONEY?
Topping up your balance, sending and receiving money is completely free on Bolt Money. There is only a S$0.50 fee applicable for each withdraw balance request to cover bank processing charges
CAN I SEND MONEY TO A NON BOLT MONEY USER?
Yes, you can send money to a non Bolt Money user. The recipient will be sent an SMS to download the app to claim the money. If the money is not claimed by the intended recipient within 14 days, the sender is sent an email with the refund code. The refund code must be redeemed in the app under ‘Promo Code’ in settings to credit the sender with the original amount.
CAN BOLT MONEY BALANCE BE USED AT LOCAL
No, Bolt Money can only be used for money transfers between Bolt Money Account holders or users
HOW QUICKLY CAN I TOP UP MY BOLT MONEY
You can instantly top up your balance using PayNow and there is a 1 day processing period for any FAST Bank transfer top ups
IS MY MONEY SAFE IN A BOLT MONEY ACCOUNT?
Yes, we use an advanced technology and payment security stack to ensure safety for our users. Bolt Money has processed in excess of S$800,000 in transaction volume. Users always have the option of sending Bolt Money Balance to their local bank account.
WHAT IS THE PROCESSING TIME FOR WITHDRAW
All withdraw balance amounts are credited to your bank account within 1 day using FAST Bank transfers.