Since the implementation of the default online Daily Withdrawal Limit of $2,000 in November 2023, the vast majority of CPF members have maintained an online Daily Withdrawal Limit of $50,000 or less. Hence, CPF Board lowered the maximum online Daily Withdrawal Limit to $50,000 on 25 September 2024 to provide more friction against scams and introduce more time between transactions to prevent further losses, while still ensuring minimal inconvenience for the vast majority of members making legitimate withdrawals.