Chocolate Finance is addressing recent disruptions to its instant withdrawal and card transaction services earlier today (10 March 2025). The temporary pause, implemented to manage an unexpected surge in withdrawal requests, is part of the company’s proactive measures to ensure stability and security for its customers, according to Chocolate Finance.
Earlier today, a notice published on the company’s mobile app indicated processing delays, causing withdrawal requests to take up to 10 business days to settle. As of now, an update given to customers mentions that withdrawals will take 3 to 6 business days to settle, and chocolate card transactions are also paused until further notice.
According to a statement from its founder Walter de Oude on LinkedIn, Chocolate Finance recently launched the HeyMax Miles partnership for its debit card, which offered 2 miles per dollar on all spending. While the program was successful in customer acquisition, it led to unforeseen high volumes of bill payments, necessitating adjustments to maintain program sustainability.
As a result, the company temporarily disabled Chocolate Card acceptance on certain platforms to balance rewards and maintain service integrity.
However, the rapid implementation of these changes led to communication challenges, resulting in customer frustration and increased withdrawal requests. In response, Chocolate Finance temporarily paused its instant withdrawal and card transaction services to manage the increased transaction volume effectively.
In a press statement on 10 March 2025, Chocolate Finance reassured its customers that their funds are safe and secure despite the Chocolate Finance service disruption. The release mentions that Chocolate Finance is a licensed fund manager by the Monetary Authority of Singapore (MAS), and that it invests in highly liquid, short-term investment-grade bonds, with customer money safeguarded under independent custody.
Notably, Chocolate Finance customer deposits are held by State Street and HSBC custodians, and not covered under the Singapore Deposit Insurance Corporation (SDIC).
In the same statement post in LinkedIn, Walter de Oude, the founder of Chocolate Finance, stated,

“This experience has been a humbling reminder that disrupting an industry means constantly learning, improving, and adapting, and bringing everyone along the journey with you. Mistakes happen – own them, learn, and improve. All businesses, big and small can learn from this. I certainly have and Chocolate Finance will be stronger because of it.”
The temporary pause is said not to be indicative of a liquidity issue but rather a prudent measure to manage the transaction surge. Chocolate Finance states that it is actively working to implement measures to expedite the return to normal service. Customers could expect regular updates on the status of these services.
The company encourages customers to visit its website at www.chocolatefinance.com for details of what to expect on managing the Chocolate Finance service disruption under its FAQs and Terms & Conditions.
Source of images: Chocolate Finance