Note, the name for your 'main account' in Wise can vary based on your location. To find the exact terminology used in your region, please check the product directly.
Due to local regulations, if your registered address is in Singapore, you’ll have limits on the amounts you can send, spend, and hold in your personal Wise account.
Here, we cover what the limits are for holding money in your Wise account.
Read about sending and spending limits if you live in Singapore
What are the Singapore holding limits?
For personal accounts in Singapore, your holding limit is 20,000 SGD. Any money you keep in your Wise currencies or Jars as cash, in any currency, counts toward this limit.
Money held as Interest or Stocks, or money that you move from your cash balance into Interest or Stocks, doesn’t count towards your holding limit.
There are no limits for Wise Business accounts.
How is my total holding calculated in SGD?
If you hold money in other currencies, we’ll calculate the value in SGD using the mid-market rate.
For example, let’s say you have:
19,000 SGD, and
1,000 USD
With an exchange rate of 1 USD = 1.35 SGD, your USD equals 1,350 SGD.
Adding this to your SGD gives a total of 20,350 SGD, which exceeds the 20,000 SGD holding limit
What happens if I exceed the holding limit?
If your account balance exceeds 20,000 SGD or equivalent, you’ll need to set up an external bank account so that we can automatically transfer any excess funds at the end of each day Singapore time if your balance goes over the limit. We'll leave behind 19,950 SGD or equivalent in your account, to avoid making multiple transfers due to rate fluctuations.
If you have an external account set up:
The excess amount over the holding limit will be automatically swept to this external account. All future excess amounts above the holding limit at the end of each day will also automatically be swept to this account.
If the transaction isn't in the currency of your external account, we'll convert the amount to the relevant currency applying our standard fees.
If you don't have an external account set up:
You'll be notified via e-mail, and you will see an action required from you on the Home tab in the app or on the website. You can either:
Set up an external account (read below to find out how).
Consider turning on Interest or Stocks: You can do this for your SGD, USD, EUR and GBP to earn potential returns daily*
*Capital at risk, growth not guaranteed.
How do I set up an external account?
Your external bank account must be in your name, must be denominated in SGD, EUR, USD, GBP, NZD, or AUD, and it can’t be your own Wise account.
You can only set up your external account from web:
Go to Recipients
Select your external bank account, or add a new one
Toggle on My Account toggle
An External account option will appear — select Set Up and follow the steps.
If we need to convert your funds to transfer the excess, standard fees will apply.
Can I decrease or increase my holding limits?
If you'd like to decrease your send and spend limit from 20,000 SGD to 5,000 SGD, please reach out to our Customer Support.
To qualify for the lower limit, make sure you're not holding more than 5,000 SGD or equivalent as cash in your Wise account. This includes money across all your currencies and Jars of any currency that aren't held as Interest or Stocks.
If you decreased your limits, but want to increase it back again, you can reach out to our Customer Support — we may ask you additional questions or supporting documents for verification.