soCash (Review)

[Updated: Oct 2019]

There’s a(n) new app in the App Store – soCash.

Here’s a rough summary of a user experience.


1. Upon downloading the app, you can choose to link it to your Facebook(/Google) account or simply provide your email address to sign up.

2. Upon signing up, you can choose either of the funds transfer options:
(a) DBS PayLah!
(b) DBS/POSB iBanking
(c) ICBC

Pretty much whatever you need to do before making your very first cash withdrawal.


1. Open the app and choose the amount you wish to withdraw. (Minimum $10 and maximum $500 $200)

2. Ensure your current location is accurate to find the nearest cashpoints. (Cashpoints listing would differ based on the amount of money you choose to withdraw. Some cashpoints require you to make a purchase* before you can withdraw money.)

3. Select cashpoint.

4. Confirm cashpoint (and make your way there).

5. Scan QR code on the soCash device (based on your number code) at the cashpoint.

5. Log in to DBS/POSB iBanking portal with your username and pin.

7. Receive the following SMS:
“Your FAST payment via iBanking for S$(amount you chose) to A/C No: XXXXXX1234 on 03/05/2018 is being processed. 12:39:39”

6. A code will appear and you just have to match it with the code that appeared on the little machine in the shop. E.g. 042

7. Once everything is processed and payment is successful, the soCash device will announce for the cashier to pass you your cash the cashier will pass you your cash.



1. The process of logging into the bank portal took too long, the cashier managed to clear two customers while I was waiting for my payment to be processed which may result in a certain extent of awkwardness for soCash users.
(Suggestion: to enable user to do a one-time log-in to bank portal and activate fingerprint to approve transaction thereafter.)
–> Users are allowed to log in their bank accounts before reaching the shop. At least, we can save the embarrassment of standing in front of the cashier.

2. The announcement of successful payment by the soCash device is a little too loud (and a little embarrassing) for both cashpoint assistant and soCash users.
(Suggestion: A simple loud “beep” may be sufficient.)
–> The device has finally kept quiet 🙂

3. The email to collect user experience upon using the app can be sent after they made their first transaction. (My first transaction was about 5 days after signing up as the nearest cashpoint was 1km away from me then.)

4. Perhaps my phone is getting old, the app hanged after cash withdrawal.
–> The app has become more user-friendly 🙂

1. Finally get to know the names of the shops I frequently walked past. (A by-product of using the app)

2. Having users to visiting the cashpoints may also help these shops to increase sales. This is how soCash attracts retailers to sign up as cashpoints.
–> And now that some shops require you to make a purchase in order to withdraw money, it’s definitely a boon than a bane to link up with soCash.

3. Great that I do not have to queue at the ATM. However, assuming that there are long queues at the ATMs only during peak hours, would these shops which serve as cashpoints have a much smaller crowd during peak hours? Would the crowd and long processing time discourage users from using the app to withdraw and just return to queuing in front of the ATMs? Guess as long as there are more cashpoints and a reduction in processing time, this app will still remain convenient and great.

4. Especially convenient and a life-saver if one cannot find an ATM nearby (provided that the nearest cashpoint is nearer than the nearest ATM).

5. They have recently (Oct 2019) brought new deals to users! Before withdrawing your cash, you can pick a deal among the many they have listed. Some examples are:
a) $15 off Agoda booking
b) 10% off Sephora if you are a new customer
c) $5 off GrabFood with $30 spent
d) and many more…(please read the T&Cs of each promotion carefully)
Personally think that this is a real good way of attracting new users and bringing back old customers 🙂