Chocolate Finance Extends Top-Up Programme, Instant Withdrawals Still MIA, Chocolate Card Remain Delicious
In an email sent on 24th March 2025, Chocolate Finance has informed users that their Top-Up Programme is being extended to 30th June 2025.
Instant withdrawals have yet to resume, unfortunately, but the Chocolate Card has since resumed working for a while. Limits remain at S$1,000 per transaction with an overall S$20,000 cap per day.
Top-Up Programme extended beyond 31st March
The Chocolate Top-Up Programme applies to the first S$50,000 of funds you place with the company. When returns are lower than 3.3% p.a. for the first S$20,000 or 3% p.a. for the next S$30,000, the company tops up the difference. Thereafter, the company targets 3% p.a. return with no top-up.
| Balance | Returns |
|---|---|
| Up to S$20,000 | 3.3% p.a. with top-up programme |
| S$20,000 to S$50,000 | 3% p.a. with top-up programme |
| Above S$50,000 | Target 3% p.a. |
Originally ending on 31st March 2025 or when S$1 billion assets under management (AUM) is reached, the asset management firm has decided to extend the programme. The Chocolate Top-Up Programme will last until 30th June 2025 or when they reach S$1 billion AUM, whichever comes first. The company describes this as “a little reassurance in uncertain times”.
Astute observers have noted that Chocolate Finance was close to S$1 billion back in February 2025. In an interview with Business Times, the company’s founder CEO states that around S$500 million in assets, or about 40% of their AUM, were withdrawn in recent weeks.
Whatever the reason, the Top-Up Programme has been extended for a third time which should be good news for those who continue to use the product.
⚠️ Of course, do read through the terms and conditions of any financial product you are taking up.
Instant withdrawals still paused, card limits remain at S$1,000 per transaction
Instant withdrawals have yet to resume, with the company saying that it is working hard to “get things back on track”. Until then, withdrawals will take the standard 3 to 6 business days.
Chocolate Card continues to work with a S$1,000 transaction limit capped at S$20,000 of spend per day, with transactions relating to AXS and e-wallet top-ups blocked.
Still a good, relatively fuss-free 2 miles per dollar
As I’ve mentioned a couple of weeks ago, while I currently do not wish to use Chocolate Finance to hold a significant amount of my money, I continue to use my Chocolate Card. A good product is a good product, and it is still a very useful card to have for trickier transactions that are commonly excluded by other cards like utilities and insurance (your insurer needs to accept card payments directly). With zero forex fee, it is also a good card to consider for overseas expenditure.
A S$1,000 transaction limit isn’t bad by any means, and it is in fact a good reminder that the 2 miles per dollar earn rate is capped at the first S$1,000 each month. It falls to just 0.4 miles per dollar after that.
Chocolate Finance
Get up to 2% p.a. returns with Chocolate Finance and 1 Max Mile per dollar with Chocolate Card.
💰 Welcome Reward
Sign up by 31st August 2026
| Funding | Reward |
|---|---|
| Fund S$1,000 | S$30 Cash or S$40 Grab Vouchers |
| Fund S$10,000 | S$50 Cash or S$60 Grab Vouchers |
| Fund S$20,000 | S$120 Cash or S$130 Grab Vouchers |
Holding period: 60 days
💳 Chocolate Card
Get 1 Max Mile per dollar spent and no forex fees.
See airlines that Max Miles can go to. You need a HeyMax account first.
💰 Top-up Programme
| Balance | Rates |
|---|---|
| Up to S$20,000 | 2% p.a. (with top-up) |
| S$20,000 to S$50,000 | 1.8% p.a. (with top-up) |
| Above S$50,000 | Target 1.8% |
For reference only; refer to exact details in terms and conditions
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I understand that there may be some “cocoa fatigue” when it comes to Chocolate news, but as things revert to normalcy, similar updates should be more appropriately spaced out. For now, it remains something that is relevant to talk about given how it both relates to getting returns on one’s funds, and miles for one’s spending.
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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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