1. What is a cooling-off period in moolahPAY App?

A cooling-off period is a mandatory waiting time during which specific high-risk activities (or what we call ‘Sensitive Features’) on your moolahPAY account are temporarily restricted. This allows for enhanced security by providing time to detect and respond to unauthorized activities before they are completed.  Cooling-off period is one of the cybersecurity measures mandated by the MAS Shared Responsibility Framework and E-Payments User Protection Guidelines.

2. When is a cooling-off period enforced?

Your moolahPAY App enforces cooling-off periods when:

• Activating a new digital security token on a device. A new digital security token will be activated under these circumstances:
  • When you login using a new device, or
  • When you login using a different phone number on a device that had previously been logged in with a different phone number
• Updating your email address
• Creating a new Payee in the Remit and DBS MCA features. The new payee will not be available for use until the cooling-off period expires

3. How long does the cooling-off period last?

As at now, the moolahPAY App enforces a cooling-off period of 12 hours, which is the minimum period mandated by MAS.

4. Why is a cooling-off period necessary?

This measure helps prevent unauthorized transactions and ensures your account remains secure. It provides additional time for account holders to receive alerts and report any suspicious activities.

5. Can I bypass the cooling-off period?

No, the cooling-off period is a mandatory security feature and cannot be bypassed. It is designed to safeguard your account from potential fraud.

6. How will I know if a cooling-off period is active on my account?

If your account is under a cooling-off period, you will see a pop-up message when attempting to access sensitive features. The message will also indicate the expiry date and time of the cooling-off period. For new payees, the expiry of the cooling-off period will be displayed below the payee’s name.

We understand that users often own multiple devices (e.g., phones, tablets, wearables). To avoid unintentionally triggering the cooling-off period, a reminder about the cooling-off period is displayed on the login page when you attempt to access your account from another device.

For any additional questions or concerns, feel free to contact our support team.