Purpl, a digital wallet that allows you to receive money from friends, family members, and employers from abroad has recently launched their new app version that gives you the power to store your received transactions indefinitely in your wallet, as well as cash out the amount of your choice.
Previously, Purpl users were required to cash out the received transaction all at once, however, with this new app release, users are now free to cash out any amount and keep the rest safeguarded in their wallet giving them greater control over their finances. Why is this beneficial?
Avoiding the risk of carrying too much cash
Cashing out the exact amount you need helps you avoid the risk of carrying too much cash. In Lebanon, it is very common for people to carry large amounts of cash, as this is often the only way to pay for goods and services. However, carrying too much cash can be risky, as it increases the probability of loss or theft. With partial cash out, you can avoid the need to carry large amounts of cash by simply cashing out the amount you need, when you need it.
No need to hurry to cash out funds before they expire
With the new Purpl app release, your funds can remain safeguarded in your wallet without an expiry date. So no more worrying about your funds expiring and being returned to the sender.
Enjoy the flexibility of cashing out the exact amount you need when you need it. This is especially useful if you may not want to cash out your entire wallet balance or need to access your funds gradually. For example, you may want to partially cash out your wallet balance to pay your rent, while keeping the rest of it for future use.
Partial cash out can also help you budget your money more effectively. For example, you might prefer to partially cash out your wallet balance each week to cover your living expenses to avoid overspending and save money in the long run.
Life is full of surprises, and sometimes, unexpected expenses can catch you off guard. With Purpl, you can now keep a portion of your money safeguarded in your wallet for unexpected emergencies. For example, if you need to pay for an unexpected expense, such as a flat tire, you can quickly access the funds in your wallet and cash them out.
Purpl 2.0 is a great way for you to gain more control over your finances and peace of mind knowing that you can always access your funds when you need them. It is also a valuable tool for budgeting, emergencies, and avoiding the risk of carrying too much cash.
Written by: Mayssa Abillama