Stored Value Facilities

What are stored value facilities?

The EZ-Link card, concession cards, NETS FlashPay, NETS CashCard, mobile prepaid cards and shopping vouchers are examples of stored value facilities. Stored value facilities are prepaid instruments that can be used for the payment of goods or services up to the amount that has been stored in the instrument.

What types of stored value facilities are available?

There are two types of stored value facilities: the single-purpose and the multi-purpose stored value facility.

A single-purpose stored value facility can only be used to pay for goods and services provided by its issuer. For example, the prepaid telephone card can only be used to pay for telephone services provided by the issuer.

A multi-purpose stored value facility can be used for the purchase of goods and services provided by its issuer as well as other parties. The EZ-Link card, NETS FlashPay and concession cards are examples of multi-purpose stored value facilities used for public transport. These and the NETS Cashcard are also used at retail locations.

Are all stored value facilities approved by the Monetary Authority of Singapore?

No. Only widely accepted stored value facilities ("WASVFs") are approved by MAS. A WASVF is typically a stored value card that is widely used by users and accepted by merchants. The total stored value held by WASVF issuers is above the threshold amount set by MAS. The WASVFs which MAS has approved are NETS CashCard, NETs Flashpay and EZ-Link cards, which are widely used in public transport and at retail locations.

What should you know before buying a stored value facility?

Make sure you understand the terms and conditions which apply to the stored value facility you are buying. Below are some factors you should consider before purchasing any stored value facility:

  • Refund and replacement procedures
  • Expiry dates
  • Load limit on stored value - this is the maximum value that the stored value facility can store at any one time.

Tip: Do not store large amounts of value in your stored value facility in case you lose the card or the issuer gets into financial difficulties.

What fees and charges are there?

Some issuers may impose fees, for example, for refunds, replacements, top-ups or other services.

What happens if the issuer of the stored value facility goes bust?

For approved WASVFs, an approved bank would have been appointed by the issuer to guarantee the total outstanding stored value. Please access the MAS website for relevant information on the approved banks. For other stored value facilities, you will need to consider whether it is worthwhile to take action against the issuer. 

How to resolve a problem

MAS expects stored value facility issuers to have proper dispute resolution channels and resources to deal with consumer disputes. You should contact the issuer directly for dispute resolution. 


The above information is prepared in collaboration with the Infocomm Development Authority of Singapore, Association of Banks in Singapore and Consumers Association of Singapore.