In a parliamentary response, the Monetary Authority of Singapore reported receiving few cases of public feedback over the past five years about minors’ unauthorized or excessive spending on online platforms. It does not collect data from banks, card issuers or payment institutions on related complaints or chargeback requests, and customers typically approach their banks to dispute such transactions. Accounts for minors under 16 can only be opened by parents or guardians, who may set lower daily transaction limits. Minors are generally ineligible for credit cards because they do not meet minimum income or net asset requirements.
Monetary Authority of Singapore2026-08-04
Monetary Authority of Singapore reports few complaints about minors’ online spending but does not collect institution-level data
The Monetary Authority of Singapore does not collect institution-level data on disputes involving minors’ online spending and has received few cases of public feedback in the past five years. Parents or guardians can set lower daily transaction limits on accounts opened for minors under 16, while minors are generally ineligible for credit cards.