You asked, we answered

Chocolate Finance is a new place for your spare cash!  🌟 Enjoy 3% p.a. return on your first S$20k, 2.7% p.a. on your next S$30k and a target 2.7% p.a. on any amount thereafter.

• Daily returns: See your returns every single day.
• No lock-ins, withdraw anytime.
• No complex criteria or hoops to jump through.
• What's more, we take no fees and make no money until we deliver the target return.

The best part? Returns on your first S$50k are supported by the Chocolate Top-Up Programme, which means if we don't meet the target returns during the Qualifying Period, we'll top up the difference. Smiling yet? 😊

Chocolate Visa debit Card: Every Chocolate Finance account comes with a free Visa debit card, with probably the best FX rates in town. Because making life richer starts with spending smarter!

Boost your savings with USD

Enjoy higher returns with the Chocolate USD Account – 4.3% p.a. on your first US$20k, 4% p.a. on your next US$30k, and a target 4% p.a. on balances above US$50k. All the same benefits as SGD, just in USD.

Start making life richer today!

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Your money is invested into a portfolio of fixed-income funds carefully selected to optimise risk-adjusted returns based on factors like duration, yield to maturity, credit quality and currency. This allows the portfolio to target a return of 3% p.a. for the first S$20k and 2.7% p.a. on any amount thereafter. We take no fee and make no money until we deliver the target returns. What's more, if the portfolio doesn't make 3% p.a. for your first S$20k and 2.7% p.a. on your next S$30k, the difference will be topped up so you enjoy the target return during the Qualifying Period. Does it get any better than that?

We certainly think so! But don't worry, we will make sure and understand your financial needs as part of our onboarding process. Enjoy 3.3% p.a. return on your first S$20k, 3% p.a. on your next S$30k and a target 3% p.a. on any amount thereafter. You can see your returns daily in the app and withdraw anytime you like.

Chocolate takes no fee and makes no money until we deliver the target return. What's more, if we don't make the target 3.3% p.a. for your first S$20k and 3% p.a. on your next S$30k, the difference will be topped up so you enjoy the target return. Does it get any better than that? Learn more about the top-up in the Terms and Conditions.

Chocolate Finance is a new place for your spare cash. We are not a bank or a fixed deposit - we don’t require you to lock in your money for long periods, jump through hoops or deal with confusing tiered rates. With Chocolate Finance, you can see your returns every single day in the app. You can withdraw your money anytime — hello, happy money.

We invest your funds in a carefully curated portfolio of conservative short-term bond funds, targeting a return of 3% p.a. on your first S$20k and 2.7% p.a. on amounts above. And here’s the best part: if we don’t meet that target return for your first S$50k (3% p.a. on your first S$20k and 2.7% p.a. on your next S$30k) during the Qualifying Period, the difference will be topped up to ensure you enjoy the full return. What's more, Chocolate Finance only makes money once we achieve your target return. It doesn’t get better than that, does it? You can learn more about our Top-Up programme here.

Chocolate Finance is not a Money Market Fund. It is a managed account operated by ChocFin Pte. Ltd, licensed by the Monetary Authority of Singapore (CMS101452). The Chocolate Finance managed account, however, does invest in short-duration fixed-income funds and money market funds.

Chocolate Finance is a brand proudly founded in Singapore. Registered under the name Chocfin Pte Ltd, we are a private company founded in Singapore, with our head office located in Singapore.

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The Chocolate Finance managed account is a portfolio of fixed-income securities comprising of a collection of funds.

The portfolio is currently made up of:

• Dimensional Short-Term Investment Grade SGD Fund (DSF)
• UOBAM United SGD Fund (USF)
• Fullerton Short Term interest rate SGD Fund (FST)
• LionGlobal Short Duration Bond SGD Fund (LGF)
• Nikko AM Shenton Short Term Bond Fund (NST)

These may change at the sole discretion of the portfolio manager. In your app, you will be able to see the information on each fund and the percentage of money allocated to them.

The underlying funds of the Chocolate Managed Account are invested globally to optimise returns. Any investments in global currencies are hedged back to SGD to protect against FX risk.

Past performance of each individual underlying fund can be found here. Please note past performance is not necessarily indicative of the relevant fund's future results.

Note: The Chocolate Liquidity Programme is currently unavailable.

At Chocolate, your money is invested in a portfolio of fixed-income funds designed to optimise returns. Normally, it takes 1–2 business days to process a trade and a few more days for the sale to fully settle – which is why most withdrawals typically take up to 3 business days.

But we know how important speedy access to your money is — that’s why we created the Chocolate Liquidity Programme. It’s an incentive programme put in place so you get instant access to your money (up to S$20k per day) when active - while we handle the fund sale behind the scenes. In other words: We front the cash for you, so you don’t have to wait. You’re welcome. 😉

Important to note: During periods of high demand, market stress or operational needs, the Liquidity Programme may be unavailable. In such cases, withdrawals will follow our standard processing time of up to 3 business days (or longer in certain situations - learn more here).

Nothing happens to your money! It's safe and segregated. We understand that the security of your funds is of utmost importance. As a regulated fund manager, and to ensure that your money is safeguarded, we are required to keep it entirely separate from our own finances, and segregated. Whether your funds are in the form of cash or securities, we use the services of al licensed custodian banks to hold and manage them. This means that if anything happens to Chocolate Finance, your money remains separately custodised (ringfenced) and you can still withdraw it anytime.

Chocolate Finance is not covered by the Singapore Deposit Insurance Corporation (SDIC) because we are not a bank. Banks have SDIC protection because if the bank fails, your money is at risk. Chocolate operates differently. Your funds with Chocolate Finance are held separately by trusted custodians, HSBC and State Street, under the management of our fund managers, and are ringfenced in the event that anything happens to Chocolate.

Yes, Chocolate Finance is absolutely legitimate! Chocolate Finance is a brand of Chocfin Pte Ltd (202347190R) and is a private limited company incorporated in Singapore. Chocfin is a Capital Market Services (CMS101452) licence holder regulated by the Monetary Authority of Singapore.

Chocolate Finance's returns calculations uses an industry-standard compound interest formula, which aligns with the methodology that most financial institutions employ. With compound interest, we account for "interest on interest," ensuring that the annual return accurately reflects the effective rate of 3% p.a.

Returns are calculated as follows:

Daily: ((103/100)^(1/365.25)) - 1
Monthly: ((103/100)^(30/365.25)) - 1
Annual: ((103/100)^(365.25/365.25)) - 1

For example, with an annual rate of 3% p.a. on a balance of S$10,000, you would see an initial daily return of approximately S$0.80, which gradually increases, assuming you remain invested. Over time, your daily returns could reach around S$1 or S$300 over the year.

This compound interest method provides a more accurate representation of returns, facilitating fair comparisons with other financial institutions. Additionally, it is designed to support customers focused on steady, cumulative growth over time.

📝 Note that If you have more than S$20k in your account, the daily returns on your first S$20k become a part of your balance above S$20k and will in turn enjoy the 2.7% p.a. return applicable to the $20k-$50k tier for compounding purposes.

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The target return for amounts above $50k is 3% p.a. based on the yield to maturities of the underlying assets, however, the actual daily return may fluctuate a little due to market volatility and can either be positive, negative, or even neutral. If you see a few days of small negatives, as Charles Schwab says, "The best course of action is to remain invested and stay the course," or as John Bogle once said, "Stay the course. No matter what happens, stick to your programme."

Your return is calculated using a money-weighted rate, considering the timing and size of your investments. Remember that the 3% p.a. is not guaranteed and there is a potential, although small, for capital losses. Past performance is not necessarily an indication of future performance.

Chocolate Finance is not a bank or a fixed deposit account. We are also not a traditional money market fund or simple bond fund. We are something entirely new.

Unlike traditional fixed deposits, there are no minimum or maximum requirements to open a Chocolate Finance account and your money is never locked in with Chocolate Finance. Withdraw anytime, without penalties.

The Top-Up Programme is a promotional incentive. It's been put in place to support the returns on your first S$50k (currently 3% p.a. on your first S$20k and 2.7% p.a. on your next S$30k)  and your first US$50k (currently 4.3% p.a. on your first US$20k and 4% p.a. on your next US$30k) during the Qualifying Period. This means, if for some reason, the portfolio underperforms, the difference will be topped up so you enjoy the current rate.

The Qualifying Period runs from now until 30th September 2025, or until the assets under management for the Chocolate Managed Account reach S$1 billion—whichever comes first. Chocolate may, at its discretion, choose to extend or remove the Top-Up Programme.

Chocolate reserves the right to make changes to the Qualifying Period or adjust its rates at any time without prior notice. The Top-Up Programme will apply to the revised rate as long as it's within the Qualifying Period. For more details, please refer to the liquidity and top-up terms and conditions.

Risk disclosure 🤓: This programme does not guarantee capital or returns. Chocolate reserves the right to pause or stop the programme at any time due to market disruptions, over-utilisation, excessive withdrawals, exchange restrictions, or other force majeure events.

The Chocolate Managed Account currently supports SGD and USD!

At Chocolate, we like to keep things refreshingly simple. You can see your returns every single day in the Chocolate app. Plus, there's no waiting around – withdraw anytime you like!

Chocolate Finance offers a return of 3% p.a. on your first S$20k, 2.7% p.a. on your next S$30k, and a target 2.7% p.a. on any amount thereafter. Daily returns. No lock-ins. No complex criteria or hoops to jump through.

See your returns daily in the app. Chocolate takes no fee and only makes money once we deliver the target return. This means, if we don't make the target returns for your first S$50k or US$50k, the difference will be topped up during the Qualifying Period 🥳. Does it get any better than that? Learn more about the Top-Up Programme here.

With the Chocolate USD account, enjoy 4.3% p.a. on your first US$20k, 4% on your next US$30k, and a target 4% p.a. on balances above US$50k.

Chocolate reserves the right to change the target return from time to time in line with market conditions.

Note: Chocolate Finance is not a bank and doesn't 'offer interest'. Instead, your money earns a 'return' based on the performance of the Chocolate Managed Account portfolio designed to deliver a target return.

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Guaranteed returns? While we can't "guarantee returns", Chocolate Finance invests your money in a carefully curated portfolio of short-term fixed-income and money market funds. These are still subject to market movements, however, if the portfolio doesn't make the target 3% p.a. for your first S$20k and 2.7% p.a. on your next S$30k, the difference will be topped up during the Qualifying Period to ensure you still enjoy the target return. Does it get any better than that?

Changes to target returns: If we decide to change the target returns, rest assured, we will communicate this change to you via an email and push notification. You can withdraw your money at any time if you are not happy with the change.

Your money starts earning returns quickly with Chocolate Finance:

• Balances below S$50k: You'll see returns in your app the next day.
• Balances above S$50k: Depending on when we receive your money, it takes 3-5 business days to start seeing returns on your latest top-up.

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If you ever decide to close your account (we would be incredibly sad to see you go), you can withdraw all your money, including the accumulated returns you have earned right up until the day you close. No penalties.

It's worth noting that the returns you earn on balances less than S$124 are below 1 cent (S$0.01), so perhaps add more than that to start seeing your daily returns!

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Yes, it's possible to earn more than 3% p.a. on balances exceeding S$50k. This will happen if the underlying portfolio outperforms its target return by more than 2% annually over a full-year period. While this outcome is rare because of the portfolio's low volatility design, it's still a possibility.

As you know, we only take a fee (up to a maximum of 2%) once the portfolio has delivered its target return (we've got to cover our costs somehow 🤑). However, if the portfolio's return exceeds the target by more than 2% annually, then those excess returns are all yours to enjoy. Ka-ching!

If you'd like to dive into the details 🤓, read away.

Yes, returns are compounded. Enjoy 3.3% p.a. on your first S$20k, 3% p.a. on your next S$30k and a target 3% p.a. on amounts after that. Your returns will accrue daily and will also be compounded. You can see your returns daily in the app. If we don’t make the target 3.3% p.a. for the first S$20k and 3% p.a. on your next S$30k, the difference will be topped up during the qualifying period so you enjoy the target return.

📝 Note that if you have more than S$20k in your account, the daily returns on your first S$20k become a part of your balance above S$20k and will in turn enjoy the 3% p.a. return applicable to the $20k-$50k tier for compounding purposes.

Alongside your SGD account, you can now boost your savings in USD with the new Chocolate Finance USD Account.

Here’s why you’ll love it:

🤑 4.3% p.a. on your first US$20k

🤑 4% p.a. on the next US$30k

🤑 and a target 4% p.a. on balances above US$50k

🥰 All with the same benefits of SGD.

The best part:

The Chocolate Top-Up Programme will support both US$50k and S$50k – that’s roughly a combined S$117k+ equivalent in total support.

Daily returns, no lock-ins and no hoops or complicated steps – just the simplicity and flexibility you love about your SGD account.

There are many benefits to opening a USD account in Singapore.

Here’s why you’ll love it:

• Higher returns: Boost your savings with competitive, higher returns that outperform our SGD account.
• Favourable exchange opportunities: Hold USD and convert back to SGD when exchange rates are in your favour.
• Diversification made simple: Spread risk by keeping a portion of your savings in a foreign currency, helping to balance your portfolio.
• Flexibility and control: Convert funds between USD and SGD instantly and hassle-free, giving you complete control over your money.
• The best part? The Chocolate Top-Up Programme will support both US$50k and S$50k – that’s roughly a combined S$117k+ equivalent in total support.

Does it get any better than that? Happy money, happy you!

With the Chocolate USD account, enjoy 4.3% p.a. on your first US$20k, 4% p.a. on your next US$30k and a target 4% p.a. on any amount thereafter. No lock-ins. No complex criteria or hoops to jump through.

See your returns daily in the app. Chocolate takes no fee and only makes money once we deliver the target return. What's more, if we don't make the target 4.3% p.a. for your first US$20k and 4% on your next US$30k, the difference will be topped up during the Qualifying Period so you enjoy the target return. Does it get any better than that?

Note: Balances above US$50k are not supported by the Chocolate Top-Up Programme. Chocolate reserves the right to change the target return from time to time in line with market conditions.

Yes, you’ll need a funded SGD account to open a USD account, as we currently can’t accept USD  directly. Once you have topped up your SGD balance, you can easily convert between SGD and USD within the app. Simply:

• Tap ‘convert’ and enter the amount you would like to move to USD.
• Swipe to confirm and voila! Start enjoying USD returns as soon as the very next day – all while your SGD keeps earning too! Reminder that balances above US$50k will take a few 3-5 days to start enjoying returns, just like in your SGD account.

There are no minimum or maximum requirements for the Chocolate Finance USD account. You can add as much or as little as you like! However, it's worth noting that the returns you earn on amounts less than US$87 are below 1 cent, so perhaps add more than that to start seeing your returns daily!

😎 Pro tip: Remember to top up your SGD account once you've converted some money over to USD to maximise daily returns across both accounts. Double returns = double happiness.

Converting money from SGD to USD is easy in the app. Simply:

• Tap on 'Convert' from the home page to move your SGD balance to USD.

• Enter the amount you want to convert. (In the app, you can tap the arrow to switch the exchange rate format between 1 SGD = XX USD or 1 USD = XX SGD.)

• Swipe to confirm and voila! Start enjoying USD returns as soon as the very next day – all while your SGD keeps earning too! Reminder that balances above US$50k will take 3-5 business days to start enjoying returns, just like in your SGD account.

💡 We use the mid-market exchange rate (like the one you see on Google), and apply a small Chocolate Guarantee FX fee to keep things transparent and predictable.

🤓 Pro tip: Remember to top up your SGD balance to maximise returns across both accounts.

To move money back to SGD, simply tap on 'Convert to SGD' to transfer USD back to your SGD balance and follow the same steps.

Transfers are processed instantly, so your money will be converted right away. It’s that simple!

Note: Direct USD deposits are not supported at this time.

To withdraw you can convert and move as much USD as you like back into your SGD account. There are no minimums or maximums.  Then from your SGD account to withdraw money back to your bank account, the standard withdrawal rules apply.

The security of your funds is our top priority. As a regulated fund manager, we ensure that your money is kept entirely separate from our own finances and is securely segregated. We work with licensed custodian banks to hold and manage your funds, whether they’re in cash or securities. This means that, even if something were to happen to Chocolate Finance, your money remains safely ring-fenced and you can withdraw it at any time.

Just like your SGD account, there are no monthly charges or subscriptions for using Chocolate Finance.

We only make money after you make money, so ensuring you meet your target return is our top priority. No fees are charged until your account achieves the returns we've set for you.

If the fund outperforms the target, we’ll take a fee of between 0-2%, depending on the level of outperformance (we’ve got to make our money somewhere 🤑). We will never charge any fees on your 4.3% p.a. returns for your first US$20k or for returns below 4% p.a. on other amounts.

Want the full details? 🤓 You can read all about it here!

The Chocolate Finance USD managed account is a portfolio of fixed-income funds comprising of a collection of funds carefully selected to optimise risk-adjusted returns based on factors like duration, yield to maturity, credit quality and currency. The portfolio is currently made up of:

• Dimensional Short Term Investment Grade USD Fund (DSF)
• Fullerton Short Term interest rate USD Fund (FST)
• LionGlobal Short Duration Bond USD Fund (LGF)
• abrdn SICAV I Short Dated Enhanced Income USD Fund (ASF)
• Nikko AM Shenton Short Term Bond USD Fund (NST)

These may change at the sole discretion of the portfolio manager. In your app you will be able to see the information on each fund and the percentage of money allocated to them.

Anyone with a verified Chocolate Finance account can convert money into their Chocolate Finance USD Account.

Yes — we charge a small Chocolate FX guarantee fee when you convert your SGD/USD. Exchange rates can shift while your money is being processed. Our FX guarantee fee protects you from these market movements — giving you a locked-in rate at the time of your transfer. No surprises. No hidden charges. No more guessing how much you’ll actually get.

We use the mid-market exchange rate (like the one you see on Google), and apply a small fee to keep things transparent and predictable. In return, you get peace of mind. And the best part? Your USD starts earning daily returns from the very next day.

The Chocolate FX guarantee fee is approximately:

• 0.25% from Monday 5am to Friday 12:59pm SGT
• 0.50% from Friday 1pm to Monday 4:59am SGT

There is a minimum fee of S$0.01/US$0.01 for any conversion.

Chocolate is built to be a happy long-term home for your spare cash — not a place for currency trading. This fee helps us keep it that way: simple, steady, and fair.

We currently do not support direct USD deposits or withdrawals. To add money to your USD account, please follow the instructions in the app to convert from SGD.
If you have accidentally sent USD directly to us, you will be responsible for all costs from both your bank and ours, including a S$5 DBS fee upon receipt. You have two options:

• Return in USD: We can send the funds back in USD, subject to a S$30 fee plus any additional charges from your bank.
• Convert to SGD: We can convert the funds at the DBS prevailing rate and either deposit them into your Chocolate SGD account or return them to another SGD bank account in your name.

Easily! You can open a Chocolate Finance account in minutes.

• Step 1: Download the Chocolate Finance app from the App Store or Google Play.
• Step 2: Sign up and verify your identity using Singpass MyInfo.
• Step 3: Once verified, add money to your account using bank FAST transfer or PayNow QR.

And voila! See your returns daily in the app.

There are several ways to contact our awesome customer service team. The fastest way is using WhatsApp from within your app. Just tap on the pink WhatsApp icon on the top right corner of your homepage and we'll get chatting!

Alternatively, you can call us on +65 9479 7979. Our customer services will be available from 9am - 6pm Monday - Friday.

We currently only accept Singapore residents.

Please note we are unable to accept:

a) U.S. Citizens or U.S. Permanent Resident (green card) status; or

b) U.S. residency and/or mailing address; or

c) U.S. Taxpayer Identification Number (TIN); or

d) Citizens or residents from high-risk countries (i.e. Iran, North Korea and Russia)

We'll keep you informed through push notifications, providing updates on transactions and confirming actions taken on your account, such as top-ups and withdrawals. Additionally, at the end of every month, a monthly statement will be available in the app for your records. You will also be given the option to opt-in to receive rewards, promotional offers, and marketing communications right from the point of sign-up. If your decision to opt in or out changes, you can easily update it from your account page in the app.

No problem at all! You can edit your phone number in the app anytime. Go to the 'My Account' page, tap on your name, then on the "My details" page, tap on the phone number, and simply update it with your new number. An OTP will be sent via SMS to your new phone number for verification. For security purposes, you will be logged out of the app and asked to re-login with your new mobile and OTP.

Simply drop Customer Service a Whatsapp message via the app and they can update this for you.

We make our money when the fund outperforms the target return (we've got to make money somewhere 🤑). If your returns are higher than the target 3% p.a on your first S$20k or 2.7% p.a. on amounts above S$20k, we take the excess as an outperformance fee (between 0-2%, depending on how much the portfolio outperforms). Rest assured, we only make money after you have made your target returns.

If the funds' return is more than 2% p.a. above the target return, then ka-ching! These returns are yours, you're welcome.

If you'd like to dive into the details 🤓, read away.

The balancing item helps show how we account for market movement so you can have a clear understanding of what's happening with your money. It displays the difference between your account balance and the assets backing your money. Since asset values go up and down, we balance this fluctuation for you so that you get the 3% p.a. target return on your first S$20k and 2.7% p.a. return on your next S$30k. There are 2 kinds of balancing items reflected in your live account statement:

1. The Top-Up Programme – If your returns are lower than the target 3% p.a on your first S$20k and 2.7% p.a. on your next S$30k – the difference is topped up so you enjoy the target return during the Qualifying Period. This difference is reflected as a positive balancing item.

2. An outperformance fee - We make our money when the fund outperforms the target return (we've got to make money somewhere 🤑). If your returns are higher than the target 3% p.a on your first S$20k or 2.7% p.a. on amounts above S$20k, we take the excess as an outperformance fee (between 0-2%, depending on how much the portfolio outperforms). This is reflected as a negative balancing item. Rest assured, we only make money after you have made your target returns.

In some circumstances, you may see a combination of both kinds of balancing items. For example, If you have a balance over S$50k and the portfolio is delivering 2.8% p.a. your balancing item would contain both a:

• 0.2% top-up for the returns on your first S$20k, taking you to the target 3% p.a.
• and a 0.1% outperformance fee for the balance above S$20k, giving you the target 2.7% p.a.

Simply open your app and your current balance and daily returns are on the homepage. If you want to see further details on the returns, you can:

• Tap on the returns banner from the homepage to see the monthly returns you have earned on your first S$50k as well as returns on amounts exceeding that. For a more detailed view, tap on daily returns to see returns for each day. You can also view your lifetime returns (the returns you earned from the day you opened your account).
• If you're curious about what your money is invested in, navigate to your account page and tap on 'live account statement' to see more details.
• You may also see your monthly statements on your account page.

Chocolate Finance is limited to one, single account per person. But why not refer partners and families using our referral programme? That way, they can access The 3% p.a. returns on their first S$20k, 2.7% p.a. on their next S$30k and a target 2.7% p.a. thereafter and collectively your money is happier!

Share your ideas and win - you can help make Chocolate Finance better for everyone. However small or big – tell us what you think, and stand a chance to win up to S$100! From now until 30th September 2025, share feedback, suggestions, or report a bug and the top 3 reporters will be rewarded – 1st place: S$100, 2nd place: S$50, 3rd place: S$25. Rewards will be credited to winners' accounts in April. We can't wait to hear from you.

To get started, simply shake your phone, take a screenshot or tap on the ‘Share your ideas and win’ banner under the 'More with Chocolate' section on your app homepage and follow the instructions on the pop-up!

Adding money to your Chocolate account is simple and convenient. You can transfer money from your bank directly to your Chocolate account. Alternatively, you can use the PayNow QR for ease.

From the homepage of your Chocolate Finance app, tap on 'Add Money', choose your preferred method, and follow the on-screen instructions to complete the transaction. Singapore FAST and PayNow transfers are typically instant. If your transfer isn't immediate, allow a few minutes for processing.

For easy and convenient future top-ups, consider linking your bank account to your Chocolate account.

Please make sure to transfer money from your own account, as we can only accept payments from accounts in your name.

There are no minimum or maximum requirements for the Chocolate Finance account. You can add as much or as little as you like! However, it's worth noting that the returns you earn on amounts less than S$124 or US$87 are below 1 cent, so perhaps add more than that to start seeing your returns daily!

Currently, you can only add money to your Chocolate Finance account via FAST bank transfer or PayNow.

Chocolate is designed to be smooth, simple and safe. You can request a withdrawal anytime in your app.

At Chocolate, your money is invested in a portfolio of fixed-income funds to optimise returns. When you request a withdrawal, it typically takes up to 3 business days to process the withdrawal of invested funds – that’s how long it takes to sell your investments and transfer the money back to you.

In some instances – like if you’ve recently added money, converted to/from USD, or made multiple transactions — your withdrawal might take a little longer to reach your account. That’s because those transactions may not have fully processed by our daily 1pm cut-off. In such cases, it can take up to 7 business days. Learn why this happens

No, Chocolate Finance is not currently part of the supplementary retirement scheme or the CPF investment Scheme in Singapore.

Unfortunately when it comes to receiving salaries directly into Chocolate Finance accounts, things are not as straightforward as we would like them to be. To ensure compliance, we need to verify that the money you're sending to Chocolate belongs to you (i.e. is coming from an account in your name). If the money is coming from an account that isn't yours — like a salary payment from your employer — we are unable to accept it.

That said, why not set up a recurring top-up to send your salary from your bank to your Chocolate account? This way, you can automatically transfer your hard-earned cash from your bank account to your Chocolate account every month like clockwork!

Ensuring the safety and integrity of your financial transactions is our top priority at Chocolate Finance. To maintain robust security measures and comply with regulations, we can only accept money sent from a bank account that bears your name. Therefore, if you send money from an account with a different name, we'll need to reject the transaction and return the money to the original sender.

In the case of a joint bank account, we may require additional verification. This helps us maintain the integrity of your Chocolate Finance experience.

As much as we would love to help, you will have to ask your other bank this question.

To make sure your money is safer than ever, all withdrawal accounts must be verified to protect you against scams and fraud. #nottodayscammers
To securely add a verified withdrawal account, simply top up your Chocolate account from a bank account in your name (any amount will do). We’ll verify the account name and number through this deposit and save it for future withdrawals.
You can withdraw your money anytime from your Chocolate Finance account using a FAST bank transfer:

• Tap "Withdraw" on the Chocolate Finance app homepage.
• Enter the amount you want to withdraw and swipe to confirm.
• There are no minimum or maximum withdrawal limits.
• Your withdrawal will take anywhere from 3 - 6 business days to reach your bank account (or a bit longer if you are withdrawing money you recently added).

Please note: If you add money using PayLah (where we can only verify your name and not the account number) or similar mobile payment solutions (i.e., not directly from your banking app), these accounts will not appear as withdrawal account options.

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Most withdrawals arrive within 3 business days. But in some cases, it can take up to 7 business days. This usually happens if you've recently added money, converted to or from USD, or made other transactions around the same time – and those funds haven’t fully “settled” yet behind the scenes.

Chocolate checks your available balance once a day at 1pm. That’s our daily cut-off. If your new transactions haven’t finished processing by then, we need to wait for them to settle before we can send your money out. That’s when withdrawals may take up to 7 business days instead of the usual 3 business days.

What does “settled” mean? When you add money or convert currencies, it takes a bit of time for that transaction to finalise behind the scenes and become available for withdrawal — this is called “settling.” It just means the money isn’t quite ready to be used or withdrawn yet.

You can track the status of your withdrawal anytime in the app. We will also keep you informed via email.

There are no charges or penalties to withdraw your money 😊. Take money out anytime, no restrictions.

Chocolate Finance uses DBS for the collection of the account holder's money. Need help adding money to your Chocolate account? See "How do I add money to my Chocolate Finance Account?"

We are not a bank. Money in banks need SDIC protection because if the bank fails your money is gone. This is not the case for asset managers. With Chocolate Finance, funds are segregated and held separately by our fund managers' custodians - HSBC and State Street. This means that if anything goes wrong with us, your money is still safe and protected.

Losing your phone can be a real pain! Call or WhatsApp us on +65 94797979 or email us at support@chocolatefinance.com and we will temporarily freeze your account. Don't worry your Chocolate account will be in safe hands until you're ready to use it again.

Security is our top priority. Here's how we keep your account, money, and data secure:

• We use Singpass to verify your identity, ensuring the safe collection of your personal data.
• Your money is safeguarded with MAS-licensed institutions.
• We implement two-factor authentication (2FA) and a pin for transactions and withdrawals exceeding $500, adding an extra layer of protection to your account.
• We provide real-time alerts to keep you informed of any account activity.
• Our transaction monitoring system keeps a close eye on all transactions, flagging any suspicious activity, and ensuring your peace of mind.
• We regularly scan for vulnerabilities and hire independent auditors to conduct internal and external security tests.

Rest assured, Chocolate Finance is operated by Chocfin Pte Ltd, licensed by the Monetary Authority of Singapore (CMS101452).

The short answer is the money you put into your Chocolate Finance account is not safe from capital losses. However, for the long answer, you need to understand these 3 things:

1. Investment strategy: Any money you put into your account (capital) is then invested into a portfolio of fixed-income funds designed to optimise risk-adjusted returns based on factors like duration, yield to maturity, credit quality and currency.

2. Market fluctuations and how we deal with them: Markets do go up and down and so will the portfolio value. For balances below S$50k, if the value of your portfolio is lower than your capital at any given point in time, the shortfall will be topped up (on both losses incurred on capital and target returns) so you earn the 3% p.a. returns on your first S$20k and 2.7% p.a. on your next S$30k. I.e: This means, while the Qualifying Period is live, your capital sum for balances below S$50k won't go down. Read more about the Top-Up Programme here or dive into the details for the Top-Up terms and conditions.

3. Segregated funds: All funds invested with Chocolate Finance are segregated and held separately by third-party licensed custodians. This means if anything happens to us – your money is still safe. Only the balancing item (i.e. any top-up that we may have provided) is not protected (and this is why we can't say your capital is guaranteed).

For balances above S$50k, the target return is 2.7% p.a., but the actual return may fluctuate due to market volatility. This means that the return on your balance above S$50k may be positive, neutral or may fall below 2.7% p.a. from time to time. Remember that we only make money if you make money, so we are very incentivised to achieve the 2.7% target. We advise that 2.7% p.a. is not guaranteed and there is a potential for capital losses. Past performance is not necessarily an indication of future performance.

As part of our commitment to protecting our customers and preventing fraud, we monitor all transactions and conduct daily reviews to identify any unusual or suspicious activity.

To report any scam or fraud cases the fastest way is using WhatsApp from within your app. Just tap on the pink WhatsApp icon in the top right corner of your homepage and we'll get chatting! Alternatively, you can call us on +65 9479 7979.

Our customer services will be available from 9am - 6pm Monday - Friday.

Whilst imitation is the sincerest form of flattery, we take things like this seriously. Please help us to control impersonations by reporting this to our team immediately. The fastest way is to open the Chocolate Finance app and tap on the pink WhatsApp icon in the top right corner of your homepage and we'll get chatting! Alternatively, you can call us on +65 9479 7979 or email support@chocolatefinance.com. We thank you in advance.

We take the security of your personal information very seriously and we will never ask for your login credentials. Please report any potential phishing attempts immediately to our customer service team using WhatsApp from within your app. Just tap on the pink WhatsApp icon in the top right corner of your homepage and we'll get chatting! Alternatively, you can call us on +65 9479 7979 or email us at support@chocolatefinance.com.

Losing your phone can be a real pain! If you can get access to someone else's phone – call or Whatsapp us at +65 9479 7979. Alternatively, email us at support@chocolatefinance.com and we will temporarily freeze your account. Don't worry your account will be in safe hands until you're ready to use it again.

Best things in life are free! It's completely free to open a Chocolate Finance account.

There are no monthly charges or subscriptions for using Chocolate Finance. We only make money after you make money. So naturally, it’s our number one priority to make the returns we’ve targeted for you. No fees are charged until you achieve the returns we target. Only once the target return has been achieved and the fund outperforms the target, we will take a fee of between 0-2%, depending on how much the portfolio outperforms (we've got to make our money somewhere 🤑). We will never take any money from your 3% p.a. returns on your first S$20k or amounts thereafter for performance below 2.7% p.a.

If you'd like to dive into the details 🤓, read away here.

The funds are chosen to maximise returns net of any underlying third-party fees. Please refer to the fund documents in the App for detailed information on the underlying funds. This can be found on the 'My Account' page under the 'Documents' section. Don't worry, your target return is NET of any underlying fund expenses. This means you will still get the full 3% p.a. on your first S$20k, 2.7% p.a. on your next S$30k and target 2.7% p.a. on any amount above that.

Chocolate invests your savings in a portfolio of fixed-income funds. We only make money once you’ve made money. So naturally, it’s our number one priority to make the returns we’ve targeted for you. We make our money when the portfolio has met the target returns and overperforms.

Good returns are like good friends! Life is better with them. So in addition to great returns, you can earn S$5 for every friend you successfully invite to join. It's a win-win!

To refer a friend, simply go to the 'More with Chocolate' section on the app homepage and tap on 'invite and get rewarded'. From there, you can easily share your unique referral link via your preferred communication app or copy the link to share manually.

Once your friend successfully signs up and adds money to their Chocolate account using your unique referral link, you will receive a notification, and S$5 will be credited to your Chocolate balance.

You can also give Chocolate access to your contacts for ease or manually enter their number into the search bar within the app to invite them directly. Once sent, your friends will receive an SMS with a unique link to download the app and sign up. This method allows you to track your referrals from the day you send the invite so you can keep track of who you've invited!

The S$5 reward will only be credited to your Chocolate Finance account once the friend you invited has successfully signed up using the unique link you sent them. Once they verify their identity and add money to their Chocolate account, you get your S$5. It's that simple.

If you invited your friend via your contact list, within the Chocolate app, you can track your invites and nudge them to complete the necessary steps so your reward gets released to you.

For T&Cs, go to the referrals page, scroll down to the bottom of the page and tap on 'Terms & Conditions'.

If you have questions or concerns, reach out to our friendly customer service!

Good news – Max Miles never expire 🥳! You can redeem your miles in the way that works best for you, whenever you want:

• Transfer to 27+ airline and hotel partners (and counting) at a 1:1 ratio, with no fees!
• Use your miles for any flight booking through the HeyMax FlyAnywhere program at 1.8 cents per mile.
• Redeem miles for vouchers and gift cards at popular brands you love.
• Track and redeem your miles easily through your HeyMax account and start enjoying those rewards!

Check out more on the HeyMax website.

Chocolate Debit Card can no longer be used as a credit card payment mechanism on AXS.

This does not affect any other part of the Max Miles programme. You will still earn 1 Max Mile for every S$1 spent on nearly all other spend categories, up to your first S$1,000 per month, and 0.4 Max Miles per S$1 thereafter. Note: Bill payments earn miles too, but are capped at 100 miles per month.

Plus we’re rewarding savers with something new: a Miles Multiplier based on your combined average monthly balance ( SGD and USD).

Note you will also continue to enjoy free FX on overseas spending!

We periodically review our spend categories to ensure balance and long-term sustainability of our rewards programme. At this time, AXS payments are paused, but we are evaluating whether to bring them back in the future.

Max Miles are earned on all eligible purchases. Your Max Miles will be tracked as pending as soon as the payment is charged to your card. Once the payment settles — typically within 7 days — the miles will be awarded and available in your HeyMax account. Please note that transactions below S$0.50 do not earn Max Miles.

You can earn 1 Max Mile per S$1 on your first S$1,000 spend each calendar month. This cap resets on the 1st of each month, and any unused balance does not carry over.

Multiplier miles will be credited within the first week of the following month. Your average monthly balance is based on your daily balances throughout the calendar month. We track your balance each day and calculate the average at month-end.

Just make sure you're using the same email address for both your Chocolate and HeyMax accounts — that’s how we match and credit your miles correctly.

The Miles Multiplier is our way of rewarding you not just for spending smart – but for saving smart too.

Earn bonus Max Miles on your card spend, based on your average Chocolate balance (SGD and USD) at the end of each month. The more you save, the more every dollar you spend rewards you.

Here’s how it works: Example: You spend S$1,000 = you earn 1,000 Max Miles. Then, at the end of the month, the multiplier does its magic –

No complicated hoops. No confusing categories. Just smarter rewards for good habits.

✅ Make sure you’re using the same email address for both your Chocolate and HeyMax accounts — this is how we accurately match and credit your miles.

💡 Multiplier miles are credited to your Max Miles account within the first week of the following month.

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Yes, you do earn miles even for bill payments!

Bill payments include the following categories:

• 80 Medical & Health (MCC 8011–8099)

• 93 Government Services (MCC 9311–9399)

• 49 Utilities (MCC 4900–4999)

• 65 Real Estate & Property Management (MCC 6513, 6531)

• 63 Insurance (MCC 6300–6399)

• 73 Business Services (MCC 7311–7399)

Here’s how it works:

If your bill spend happens within your first S$1,000 of total spend in the month, you’ll earn 1 Max Mile per S$1 — so S$100 in bill payments = 100 miles (you’ve hit the cap).

If your bill spend happens after you’ve passed S$1,000 in total monthly spend, you’ll earn 0.4 Max Miles per S$1 — so it’ll take S$250 in bill payments to reach the 100-mile cap.

Tip: Want to earn on more of your bill payments? They stretch further in the second tier — after your first S$1,000 of spend.

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We’ve teamed up with HeyMax to bring you even more rewards when you spend with your Chocolate Visa Card.

• 1 Max Mile per S$1 on your first S$1,000 spent each month

• 0.4 Max Miles per S$1 after that — no cap

• Note: Bill payments earn miles too, but are capped at 100 miles per month

Plus we’re rewarding savers with something new: a Miles Multiplier based on your combined average monthly balance (SGD and USD).

The more you save, the more every dollar you spend rewards you.

No complicated hoops. No confusing categories. Just good habits, made better.

Example: Spend S$1,000 = earn 1,000 Max Miles.

At the end of the month, the Multiplier does its magic — and your miles grow even more.

Learn more about HeyMax here.

For anything related to your Chocolate Visa card or the linking of your account, reach out to Chocolate Finance support.

If you have questions about redeeming your miles or missing miles, contact HeyMax directly for assistance. We’ve got you covered for both!

Getting a Chocolate Finance card is easy and free! Every Chocolate Finance account comes with a Visa debit card available digitally within the app. To activate it, swipe right on your balance to see the Chocolate card on your homepage or find it in the 'More with Chocolate' section. Once you're on your card page, simply tap 'Activate now' and voila!

Once your digital card is activated, you can order a physical Visa debit card at no additional cost. Navigate to the card page, tap 'Order a physical card,' and follow the prompts to confirm your delivery details. Your physical card will arrive at your doorstep in a few days.

Note: There are no annual fees associated with your Chocolate Card!

Your card transactions are processed in XSGD, which is a stablecoin pegged 1:1 to the Singapore Dollar (each XSGD is equivalent to one Singapore Dollar). While your transactions remain in SGD, processing them in XSGD utilises blockchain technology for efficient payment settlement, ensuring secure and speedy transactions. Rest assured, no fee will be incurred when SGD is converted to XSGD and vice versa and this doesn't impact your transactions in any way; it's just a behind-the-scenes process for smoother payments.

A digital card exists solely within the Chocolate Finance app and is used for online transactions, providing instant access to your funds without the need for a physical card.

In contrast, a physical card is a tangible card that can be used for in-person transactions at physical stores, public transport, and anywhere Visa is accepted. It's ideal for situations where digital payments are not accepted or for those who prefer the convenience of a physical card. Plus, it looks pretty in your wallet!

Both types of cards are linked to your Chocolate Finance account, use the same card number and offer the same functionality. They just cater to different preferences and usage scenarios.

Yes, there is a maximum limit of S$1,000 per transaction on your Chocolate card and a maximum daily spending limit of S$20,000.

You can easily track your spending under the 'Transactions' section in the app.

In the app, you can easily manage your Chocolate card PIN and transactions. To update or reset your PIN, tap on your Chocolate card within the app to access the cards page. Then, select 'More' and choose 'Change card PIN'. For enhanced security, an OTP will be sent to verify your request.

It typically takes 5-10 business days for your card to be delivered. If this period has passed, please contact us via WhatsApp (you can start the chat from your Chocolate app) or email us at support@chocolatefinance.com. We will be happy to check on the status of your card order.

No, the Chocolate card cannot be used to withdraw cash from ATMs.

You can use your Chocolate Finance card for payments wherever Visa is accepted (which is almost everywhere 🤑). There is a maximum limit of S$1,000 per transaction.  And remember, the more you spend, the lower your returns, so top up your account after your spending spree to keep maximising your benefits!  Hello, happy returns and smart spending!

🤓 Pro tip: Don’t forget to link your Chocolate Card to HeyMax to earn Max Miles on every spend. Ready to turn everyday spend into your next getaway? ✈️

You can now add your Chocolate Visa debit card to Google Wallet!

For Google Wallet:

• Open your Google Wallet app.
• Tap "Add to Wallet" select "Payment Card," "New Credit or Debit Card."
• Enter your card details manually, or if you have the physical card, line up the back of the card with the rectangle on the screen to scan it.
• Accept the terms and enter the verification code.

Your card will be ready for tap-and-pay and saved in your Google account for online payments wherever Google Pay is accepted.

Lost your card? Or having problems with your current card? No worries! Simply open the app, head to the cards page, tap 'More,' and choose 'Replace your card.' Follow the instructions, and we’ll take care of the rest. We will deactivate your old card to keep your money safe and block all future transactions. Your shiny new card will arrive at your address in 5-10 days.

If you’re not sure if your card is really lost, you can freeze it in the app to keep your money secure while you hunt it down. Once you find it, you can unfreeze your card.

Activating your card is easy! Open your Chocolate Finance app and navigate to the 'cards' page. Tap 'received your card, activate now' and enter the last 4 digits of your card number in the app. It's that simple!

If you no longer require your physical card or digital card, simply reach out to customer services via WhatsApp (you can start the chat from your Chocolate app) or email us at support@chocolatefinance.com and we can cancel your card for you.

Freezing or unfreezing your Chocolate card is simple! In the app, navigate to your card page and tap 'Freeze card' to temporarily disable it. While your card is frozen, it can't be used for transactions. Remember to consider any recurring subscriptions or payments linked to this card before freezing it. You can unfreeze your card anytime, allowing you to resume using it whenever you need to.

If you notice any unfamiliar transactions or suspect fraud on your Chocolate Visa debit card, contact us immediately via WhatsApp (you can start the chat from your Chocolate app).

Additionally, we recommend you temporarily freeze your card from the app for added security.

Your prompt communication in these situations is greatly appreciated as it helps us ensure the protection of your account.

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If you suspect your card is lost or stolen, immediately freeze it in the app for added security. Then, navigate to 'Replace your card' by tapping on 'More' from your card page. You can order a replacement card directly, which will automatically cancel your current card.

Your Chocolate Visa debit card is packed with awesome perks – Hello smart spending!

• Earn 1 HeyMax mile for every S$1 spent on almost anything, anywhere, up to your first S$1,000 of spend each month. After that, earn 0.4 Heymax miles per S$1 spent (hello rewards!)
  
  • Multiply your miles when you save more — maintain a higher Chocolate balance and enjoy bonus miles every month, automatically.
• Zero FX fees —  We use Visa's exchange rates and pass them directly to you, with zero hidden FX fees or markups. Experience transparency and competitive rates that help you keep more of your money.
• Exclusive Visa Platinum offers in travel, dining, shopping, sports, and entertainment! Discover here.

Plus, your Chocolate balance continues to enjoy a happy 3% p.a. on the first S$20k - no debt, no stress, just smarter rewards for your everyday purchases (unlike the feeling of spending with credit cards, that rack up debt while you spend!). Hello, smart spending!

Yes, you can use your Chocolate Finance Visa debit card overseas. There are no additional fees associated with using your card abroad. You will only be charged the Visa FX transaction rate — we do not add any further fees or markups, ensuring transparency and convenience for your international transactions. You can check the rates here on Visa's website.

🤓 Pro tip: Make sure to link your Chocolate Card to HeyMax and earn Max Miles on every overseas spend! You’ll earn miles based on the equivalent SGD amount, using the Visa FX rate at the time of the transaction.