[Singapore] Withdrawing Balance to Bank Account

Beware of fake orders claiming to be under Buyer Protection or orders with the 'Buy' button. As a seller, you would never need to leave the app, send your email address or mobile number to receive payment. If you're being asked to enter your credit/debit card details to receive payment, do not proceed and report the user to us immediately. 

Read more about Phishing scams here.

Updated as of 17 Apr 2025, 12:00pm

How do I Withdraw my Balance to my bank account?

Please ensure you have set up your Balance before you can withdraw the funds in your Balance to your bank account.

Here are the steps to withdraw your Balance to your bank account:

1. Go to your profile ('Me' tab)
2. Go to 'Balance' icon
3. Tap on 'Withdraw'. If this is your first withdrawal, you will need to complete the setup of your Withdrawal details page by adding your withdrawal method and complete KYC verification. 
4. Select your Withdrawal method, by adding a bank account or debit card
5. Go back to 'My Balance' page
6. Tap 'Withdraw'

Withdraw to Your Default Withdrawal Method

If you're withdrawing funds to your bank account, it takes 1–4 working days for the amount to be credited.
For transfers to a debit card, the funds should arrive within 24 hours. A 1% withdrawal fee applies to debit card transfers, which will be deducted from the withdrawal amount.
If your Withdrawal amount is more than SGD $8,000, you can only transfer it to a bank account. 

Automatic withdrawal of funds from Balance

From 06 May 2025, if your Available earnings in Balance is S$5,000 or more, the total balance will be automatically withdrawn to your default withdrawal method. 

Can I use the money in the Balance to buy coins or other items on Carousell?

Carousell Coins can be used to purchase in-app Carousell Ads such as Bumps, Listing Fees and Spotlight. Carousell Balance allows you to receive payments when for orders made via the 'Buy' button.
The two features are unrelated.

Money in your Carousell Balance cannot be used to purchase other items on Carousell or be used to pay for features, such as Bumps and Spotlight.

Can l transfer foreign currency funds from Balance to my local bank account?

No, the platform only accepts transactions and payments made in the local currency. 

For example, if you listed and sold items in the Singapore marketplace and received Singapore dollars in your Balance, you need to add a Singapore local bank account or debit card in order to transfer funds.

If you’ve listed and sold an item in the Malaysia marketplace and received Malaysian ringgit in your Balance, you need to add Malaysian local bank account in order to transfer funds.