Crypto.com now offers Singapore residents a zero-fee* and localized method to top up their SGD Wallet using their bank accounts via the FAST network. FAST is a quick and secure payment channel, trusted by financial institutions in Singapore.

*Please note that while Crypto.com charges no fees for SGD deposits via the FAST network, your bank and/or their intermediary bank(s) may apply a processing fee.

How do I set up my SGD Wallet?

Activating your SGD Wallet requires you to verify your bank account by making a deposit. Follow the steps below to set up your SGD Wallet and link your bank account via the FAST Network:

  1. Go to ‘Fiat Wallet’ from the Super App Menu

  2. Tap ‘+ Set Up New Currency’

  3. Select ‘Singapore Dollar’

  4. Read and accept the Terms and Conditions

  5. Review information on depositing to Crypto.com’s bank account

  6. Access your bank account via online banking

  7. Copy the deposit information below from the Crypto.com App and input the information as the beneficiary details in the transfer instructions required by your bank

  8. Select FAST network

  9. Confirm and process the payment

Deposit Information

Below is the deposit information from the App that you will need to input as the beneficiary details in your bank’s transfer instructions:

Bank Name

Standard Chartered Bank (Singapore) Limited

Bank Account Number

Virtual account number unique assigned to each customer

Account Holder Name

Foris DAX Asia Pte. Ltd.

Payment Network

FAST

Important Notes:

  1. We do not support deposits from Standard Chartered Bank accounts at this time.

  2. Only deposits via the FAST network are accepted. If you made a deposit via GIRO or MEPS, kindly reach out to us via the in-app chat or at [email protected] with your proof of payment to initiate a refund.

Why do I need to link my bank account?

Linking your bank account enables Crypto.com to protect your account against fraudulent activities. We only accept funds that come from bank accounts that are in your name and match with the name of your App account. Any funds from a bank account that does not match your name will be rejected and refunded.

I have been asked to provide additional information/documents for linking my bank account. How do I proceed?

You might be asked to provide additional information/documents (i.e. proof of payment or bank statement) to match your bank account to the records provided to us. Please note that the documents need to meet the following criteria:

  1. Issued in the past 90 days

  2. Clearly shows the bank account holder’s full name, account number, and the bank name

These criteria also apply to the case of funds coming from a joint account, where you may be requested to provide additional records to ensure that you are one of the account holders in the joint account. Please allow one to two business days for our team to process your document. Once your bank account has been verified that it belongs to you, your funds will be automatically credited to your SGD Wallet.

Important: Your funds will be refunded if no document is submitted within seven days of the notification. You can then initiate another deposit using the same bank account or use another bank account.

What happens if my bank account is rejected?

Unfortunately, we would not be able to accept funds from bank accounts that have failed verification. Any funds that were deposited from a rejected bank account will be refunded to the originating bank account.

How long does it take for my funds to be credited?

The FAST network offers near-instant settlements. Once we have received the funds, we will instantly credit the funds into your SGD Wallet in a few minutes.

For funds coming from new bank accounts, we would verify the bank account before crediting the funds. After you have submitted all the necessary documents, it may take up to two business days for the funds to be credited.

Can I use more than one bank account to deposit?

Yes, you may use up to five bank accounts for your SGD Wallet.

Are there any deposit limits?

Yes, there is a deposit limit of SGD 200,000 per transaction. Any amount of deposits per transaction that exceeds this limit will be refunded back to the originating bank account.

Do you accept funds from third-party payment processors?

No, we do not accept funds from third-party payment processors (e.g. Wise Inc.). Please use a bank account that is in your own name.

What can I do with the funds in my SGD Wallet?

You can purchase crypto using the available funds in your wallet, or sell your crypto and convert it to SGD.

What are the differences between the StraitsX Wallet and SGD Wallet?

SGD Wallet

StraitsX Wallet

Custody

Crypto.com

StraitsX

Settlement currency

SGD

XSGD

Deposit Limits

Maximum: SGD 200,000 per transaction

Please refer to StraitsX’s personal account instructions.

Withdrawal Limits

Daily Maximum: SGD 200,000 per day

Monthly Maximum: SGD 2,700,000 per month

Purchase Limits

Buy Limits

Daily: SGD 680,000 per day, 50 times/day

Monthly: SGD 680,000 per month, 300 times/month

30,000 of XSGD per year

Sell Limits

Sell Limits

Daily: 680,000 SGD per day, 50 times/day

Monthly: 680,000 SGD per month, 300 times/month

Fees

Free

Buy crypto with StraitsX: 0.0%

Sell crypto to StraitsX: 0.4%

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