Articles

Persistent Top Untruths About WeChat in Singapore

1. WeChat Wallet is not allowed in Singapore

Wechat Wallet is an e-wallet service much like Paypal or Grab money.  But it is NOT a crypto-currency like Bitcoin.  WeChat Wallet is allowed in Singapore and many people are using it everyday to pay for purchases in restaurants, shops and even training companies like ours.  The only currency allowed in WeChat Wallet in Singapore is the Chinese yuan or Renminbi. 

 

WeChat Wallet money is real because you need to have real Chinese yuan inside.  There are only 2 ways to fill up money in your Wallet: get someone to transfer to you or purchase Chinese yuan from an authorised WeChat agent like Fomo Pay.

 

2. Cannot Open WeChat Wallet in Singapore

Anyone can open Wechat Wallet in Singapore without the need to have a bank account opened physically in China. You simply use your Visa or Mastercard credit card to authenticate yourself. The process takes about 3 minutes.  In our classes, all our students hands-on to open WeChat Wallet inside the class. Some even did a real transaction in the class, like giving out or receiving red packets. 

 

3. WeChat is Insecure

WeChat is secure because it is backed by Asia's highest value company Tencent Holdings, and the China government. In Shenzhen, WeChat ID is used to replace physical identity card. WeChat is secure also because any transaction involving money requires a password pin, and all transfers of money that are not effected within 24 hours are simply returned to the sender.  WeChat security is enhanced by a unique requirement of NOT requiring a mobile number to create a WeChat account.

 

For more information on how to use WeChat like a pro and get business from tapping into WeChat, contact Andy Ng, who has been conducting over 25 WeChat classes fro August 2017 to Jan 2018

Course Menu