Qoo10 Buyer Wallet Balance and transaction limits
Qoo10 operates payment services and provides wallet facilities to its customers. To be in compliance with the Payment Services Act (“PSA”) Qoo10 has to put in place limits to Buyer's Qaccount according to the regulations.
2 types of Wallet
There are 2 types of Qoo10 Qaccounts, Basic and Premium. To upgrade to Premium Qacccount, you are required to complete a customer verification process.
Qoo10 Wallet transaction limit
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Types of limits for Buyer Accounts (Qaccount and Q*coin E-wallet)
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Basic
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Premium
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Qmoney and Q*coin
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Other Payment Methods
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Qmoney and Q*coin
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Other Payment Methods
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Single Transaction (spend) Limit
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SGD1,000
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SGD5,000
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SGD5,000
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SGD20,000
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Annual Spend Limit (on a rolling 365 days-basis)
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SGD5,000
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SGD15,000
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SGD30,000
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Not Applicable
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Balance* Limit (Qmoney and Q*coin balance combined)
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SGD1,000
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Not Applicable
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SGD5,000
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Not Applicable
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Account Verification Requirements?
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No
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No
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Yes
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Yes
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Can purchase from Non-Singapore individual sellers?
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No
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No
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Yes
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Yes
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Cash Withdrawal
(Dollar notes and coins)
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No
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No
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No
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No
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Note: Your top-up will be declined if you exceed the annual transaction limit.
For Q*coin wallet and Q*accounts, the same Premium Buyer Accounts are provided to buyers and sellers.
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Types of Limits for Buyers
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Definitions
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Single Transaction (spend) Limit
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Limit per payment transaction.
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Annual Transaction (spend) Limit
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Includes all Qmoney and Q*coins in an account transacted in any period on a rolling 365-day basis. It does not include withdrawals of Qmoney into buyer’s personal deposit account or overseas personal deposit account.
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Balance* Limit
(Qmoney and Q*coin balance combined)
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The total amount of Qmoney + Q*coins in all Buyer’s Accounts issued to one buyer at the end of the day.
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Can top up Qmoney derived from Physical Gift Cards purchased from 7-Eleven stores and checkout using 7-Eleven payments?
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Physical Gift Card from 7-11: Buyers will need to upgrade their account to Premium Buyer Account before they can top up their Qaccount using gift cards bought from 7-Eleven.
7-Eleven payments: Buyers will need to upgrade their Basic Buyer Account to a Premium Buyer Qaccount before they can make payment using this method.
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