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Is Kids & Teens account affected by Payment Services Act?

Our Kids & Teens account is considered a 'Small Personal Payment Account' under the Payment Services Act, so the S$19,800 end-of-day account limit doesn't apply.

However, if you add money to your kid’s account, the transfer will count towards your S$100,000 annual transaction limit.

For more details on Payment Services Act, please refer to this article.