The TikTok Hack To Partially En-cash $100 NS55 Digital Credit Actually Works.

I was initially skeptical when I read online that a TikTok user has discovered a "hack" to partially encash the NS55 $100 credit using Sheng Siong's $TM cash dispenser machine. While going grocery shopping with my wife over the last weekend, I decided to give it a try while my wife was queuing for payment at the cashier. The $TM cash dispenser at Sheng Siong gave me a heart attack for a few seconds as after the credit has been deducted, no cash came out and I instantaneously regretted not spending the money at F&B outlets directly. But to my surprise, cash was indeed eventually dispensed out of the machine after the lead time for processing and validation. So how does this work?  

Quick Background

Our Singapore government has decided to give S$100 to every current and ex-national servicemen S$100 credit to commemorate the 55th year of National Service and to recognize the contributions made by Singaporeans and permanent residents who had served the country. From July 2022 onwards, all eligible national servicemen will receive S$100 worth of NS55 credits which can be used at various merchants outlets in Singapore. 

1. First download the LifeSG App onto your mobile phone

After downloading, log in using your SingPass. Scroll down to "Benefits and support" section which is also where you can check your credit balances for SkillsFuture Credit. Go to NS55 credits (SAF) and click on "view details". There you will find the "Scan QR code to pay" button at the bottom of the screen for use later on the Sheng Siong's $TM.

2. Go to your nearest Sheng Siong outlet and locate their $ATM machine

Once you are at the machine, point towards the "PayNow" option for cash withdrawal. According to TikTok, you should only key in $90 (I am not sure whether it can go up higher but I think it is possible as long as you reserve a convenience fees of 20 cents which will be charged by Sheng Siong) The QR code will pop up. On your mobile phone LifeSG app as aforesaid mentioned in Point 1 above, tap on the "Scan QR code to pay". Then wait for the machine to dispense the cash after that. 

Parting thoughts

I thought it is rather interesting that we can en-cash the credit instead of having to spend it at retail or F&B outlets. Cash is the most practical as you choose to save it or spend it at non-participating merchants. Channel NewsAsia also reported that MINDEF has commented that "servicemen (NSmen) are free to decide how they want to use their S$100 of NS55 digital credits" and hence this approach seems legit. Let me know whether anyone of you are successful in drawing out the full $100 credit as the Tiktok video uses only S$90. :)