Citing an e-mail sent out to members, TechCrunch says that the transfer of money between personal accounts will not be allowed from 20 February.

Users will still be able to make commercial payments for goods and services and receive personal payments from people outside of Singapore.

PayPal was forced into a similar suspension by regulators in Japan back in 2010 and has also fallen foul of lawmakers in India in the past.

PayPal Stops Personal Payments In Singapore - TechCrunch