Dad and mom, when you’ve got youngsters youthful 12 years previous, then verify your LifeSG app the place you must have obtained your S$500 per little one by now.
For those who’ve already obtained yours, notice the expiry date of 6 July 2026.
However for those who don’t wish to danger having your S$500(+) credit expire nugatory simply since you forgot to make use of them on time, then a better approach 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 possibly can convert your LifeSG credit into money – both by utilizing Sheng Siong’s Easy Teller Machines ($0.20 service price applies) or through YouTrip to your checking account.
I choose utilizing YouTrip since you’ll be capable of get the cash straight into your checking account, the place you possibly can then withdraw as money at an ATM or switch into your little one’s financial savings account to let it develop.
For those who’re a daily reader of this weblog, you must also have already got a YouTrip account by now as I’ve been masking it as an abroad spending hack since 2019. Nevertheless, for those who’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 verify how a lot you will have obtained. This could present up on your house display screen and you must obtain $500 per little one (youthful than 12). I’ve 2 sons, so I obtained $1,000 from the federal government right here.
For those who don’t see the credit, ask your partner to verify their LifeSG app as a substitute. It is rather probably they’re the designated trustee of your little one’s CDA (fairly than you) so the funds will go to their LifeSG account as a substitute.
Generate a QR cost code in your YouTrip app
Subsequent, log into your YouTrip account to generate a QR cost 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 cost QR code along with your LifeSG app
Now head again to your LifeSG app and scan that YouTrip QR code utilizing the “Scan QR code to pay” characteristic.
Be sure 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’ll be able to both PayNow to your self through your cellular quantity or NRIC/FIN. As YouTrip is a MAS-regulated monetary entity, ensure that your YouTrip title matches your checking account!
Failing to take action could end in switch points, which you’ll need to resolve manually with the YouTrip staff by writing in to buyer@you.co.
In case your subject occurs on the LifeSG app, then you possibly can contact them at helpdesk@life.gov.sg to verify 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 virtually instantaneous), you might be free to spend it utilizing your debit card, switch to your child’s Little one Improvement Account to earn compounding curiosity over the following few years.
You can even 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 fairly not withdraw as money and maintain it inside your LifeSG app to spend instantly, 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 way 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 cost choice.
Right here’s just a few concepts, however notice that the checklist will be fairly infinite:
- Payments: through AXS machines to your utilities, electrical energy, bank card or another payments
- Groceries: FairPrice, Sheng Siong, Chilly Storage, Large, 7-11
- Bookstores: Widespread, Kinokuniya
- Meals & Eating: Ya Kun, Toast Field, Sushiro, McDonald’s, Burger King, Koi, Chagee, Mr Coconut, and so on. Notice that for those who’re unable to pay to your hawker meal utilizing LifeSG credit, it’s probably as a result of the hawker QR code is tied to their private quantity fairly than a company UEN.
- Purchasing: Uniqlo, and so on.
You can even pay to your little one’s schooling charges at any enrichment centres that provides PayNow UEN QR or NETS QR cost. The chances are infinite.
In my case, I attempted utilizing it at Widespread to purchase some books and it went by way of 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 chances are you’ll 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 need to assume an excessive amount of about it. On the identical time, we topped up my youngsters’ funding account with S$500 every so that it’ll develop and compound right into a a lot larger sum for them over time.
P.S. For those who 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 can even try my earlier article right here on what else you are able to do along with your LifeSG app (spoiler alert: seek for preschools, verify your little one’s medical appointments or immunisation data, guide an ActiveSG sports activities facility, and so on!)
I hope this text helps you with redeeming your LifeSG credit so that you simply don’t allow them to expire nugatory. In any case, in the case of free cash from the federal government, simply take!
Share the phrase with any of your pals who’re mother and father 🙂
With love,
Daybreak
