If you’re an iChange user, it’s time to take a closer look at your account. A new monthly service fee has taken into effect from 1 October 2025.
What’s Happening
iChange announced that it would begin charging a nominal monthly service fee of S$1.
In an official statement sent to customers, iChange clarified:
“As informed, the S$1 refundable service fee was automatically deducted by the system. Once you spend S$300 (SG or overseas) using our card in a quarter (Oct, Nov, and Dec 2025), this fee will be automatically refunded to your wallet in Jan 2026.”
The company added that “active iChange customers won’t feel the service fee, as it’s fully refunded once the quarterly spending threshold is met.” According to iChange, this charge applies only to inactive accounts, and the policy was implemented to help manage the cost of maintaining idle accounts.
What I Will Be Doing:
With so much multi-currency cards, despite iChange having very good exchange rates, I have chosen to use other cards due to the flexibility of being able to withdraw funds back to my account.
To terminate my mum and my account, I clicked on “Profile” → “Edit Profile” → Terminate.
I had thought that that would activate the termination after filling up the details online, however, I did not get any response from iChange.
Upon texting them on whatsapp, iChange sent a msg back with this:
“Once your account is terminated, you will not be able to reapply or rejoin in the future. Once we receive the filled account termination form from your end, we will not charge any service fee from your wallet thereafter.”
1. If you hold a balance in any non-SGD currency, please exchange it to SGD before requesting termination.
2. If your balance is less than SGD 5, we will not be able to transfer the amount to your bank account. In such cases, we recommend utilising the remaining balance.
3. The termination process typically takes 5–6 weeks to complete.
If you are sure about terminating your account, please download and fill the termination form https://drive.google.com/file/d/1xhEF5d2tJKnoldexEL0-cFmWOl0XEF_I/view?usp=sharing
and send it back to our WhatsApp support team or support@ibv.com.sg. They will review and process your request accordingly.
Note: “We have shared the account termination form for download and offline completion only. This form is not enabled for online editing. Users can download the form and fill in the required details on their own device. Once the form is completed, please share it with us through our official communication channels. We would like to assure you that your data will remain strictly confidential and will not be shared with anyone.”
So if you intend to close down your iChange account, fill up the form and send it to their whatsapp chat.
