Users banned from transferring money in Octopus card to Octopus Wallet

Local | 10 Jun 2021 5:50 pm

Octopus Card has partly disabled the Octopus Wallet function to prevent users from transferring the electronic consumption vouchers worth HK$5,000 directly to their bank accounts. 

Card owners, until they use up the HK$5,000 worth vouchers, will not be able to transfer money in the cards to the Octopus Wallet. 

The Octopus Wallet function allows users to transfer the value of the cards to their Wallet account, and users can then transfer the money in the Wallet account to their bank accounts. 

Octopus Card explained that the arrangement is to ensure the vouchers will be used for local transactions and to stimulate the city’s economy.  It also prevents citizens from saving the HK$5,000 vouchers in their bank accounts directly through the Octopus Wallet function. 

The company added that if customers have to add value to their cards regularly, they could use another card to retrieve the consumption vouchers. 

Citizens can still transfer money from their bank accounts to their Octopus Wallet by registering for the Faster Payment System eDDA (electronic Direct Debit Authorisation) instant bank transfer service. 

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