Travel Cards: What are the best options in Singapore? 2024
Whenever you’re planning to spend internationally - in person or online - you’ll want to avoid fees wherever possible, and get the very best available exchange rate. Travel cards, including international debit cards, prepaid cards and travel optimised credit cards could be a good way to limit the costs of transacting in foreign currencies, and allow you to get extra perks and benefits as you spend.
Travel cards can offer some great benefits to anyone living an international lifestyle, allowing you to cut the overall costs of spending in a foreign currency, and access a better exchange rate. This guide walks through the key advantages of different types of travel cards, how they work, and which cards are the best on offer for customers in Singapore.
Our Top Travel Cards in SG:
- Wise card
- HSBC travel card
- Revolut Card
- YouTrip travel money card
- Citi PremierMiles credit card
- DBS Altitude credit card
- UOB PRVI credit card
Travel cards: the best options in Singapore
| Wise debit card |
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HSBC Everyday Global Travel Card |
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| Revolut |
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| YouTrip travel card |
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| Citi PremierMiles credit card |
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| DBS Altitude credit card |
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| UOB PRVI credit card |
|
How do travel cards work?
Travel cards work much like your bank debit or credit card, but with a focus on overseas transactions. You can use your card to spend while you travel, when you shop online with international retailers, and to make overseas ATM withdrawals. Depending on how you want to use your card, you may also find that a travel card lets you cut the costs of international transactions and manage your money across currencies more conveniently.
Types of travel card
Travel cards break down into 4 key categories:
Prepaid travel cards
Travel debit cards
Travel card with neobanks
Travel focused credit cards
Each option has its own advantages, but depending on how you want to use it, you’ll probably find that one suits you better than the others. Here are some pointers to consider:
Prepaid travel card
A prepaid travel card - also called a travel money card - may be issued by a bank or a specialist provider. It’s not linked to your bank account which makes it pretty secure, but can also make it inconvenient to add money. Prepaid cards may have a broad range of fees, and terms and conditions can vary a lot between providers. Not all merchants and websites accept prepaid cards, so you’d need to have a secondary source of funds when you travel, just in case.
International card from a banks
Singaporeans love to travel - and of course Singapore is a popular expat destination too. So it’s no surprise that many banks here offer their own international cards which are linked to accounts with multi-currency capability. We’ll look at one of them - the HSBC Everyday Global account and card in more detail later. DBS also offers the popular My Account which has foreign currency options and a linked card.
Using your own bank’s card when you travel can be convenient - but banks may not offer the best fees and exchange rates. There’s also an inherent risk of using your regular bank card when you’re abroad or spending with an international retailer online - if it’s stolen or cloned your full balance could be at risk.
Travel card with neobanks
Online specialist providers and neobanks also offer a strong range of travel cards which can provide a good balance of cost, security and convenience. They can often be among the cheapest options out there, with easy to use online and in-app services, industry level security, and some of the lowest fees available.
Cards are easy to order, with a fully online application and verification process in many cases.
Travel focused credit cards
You can get travel focused credit cards from many different local, regional and global banks. As with all credit cards, you’ll need to meet eligibility requirements which often include a minimum income level, and you may find you have to pay interest if you don’t clear off your bill in full and on time every month. However, travel optimised credit cards can offer some nice perks, such as complimentary insurance, lounge access in the airport, and ways to earn rewards and airmiles as you spend. Bear in mind that foreign transaction fees might apply, so even though the perks sound attractive, using your credit card for foreign currency spending isn’t always the best choice - checking the balance between fees and perks is important.
Learn more about the best virtual cards or the best multi-currency cards available in Singapore.
## Best travel debit cards: a comparison
There are a few non-bank providers which offer flexible alternatives to the international debit cards commonly issued by banks, like the Wise account and card, which is available for Singapore customers.
We’ll dive into a few strong choices for travel cards in a moment - first let’s take a look at some highlights from our top Singapore travel cards, including travel debit, prepaid and credit cards:
| Provider/card name | Annual fee | Exchange rate | Withdrawal fee |
| Wise card | No annual fee | Mid-market exchange rate with no markup | 2 withdrawals per month, to the value of 350 SGD fee free 1.5 SGD + 1.75% after that |
| HSBC travel card | No annual fee - but a minimum balance of at least 2,000 SGD applies to avoid a fall below charge | Exchange rates may include a markup Foreign transaction fees may apply if you spend currencies you don’t hold within your account | HSBC doesn’t charge for withdrawals at its own ATMs 8 SGD international fee for out of network withdrawals |
| Revolut card | 0 SGD to 19.99 SGD/month | All accounts offer weekday currency exchange to a set limit which uses the Revolut rate with no extra fee Fair usage charges and out of hours exchange fees apply | No fee to your account limit (350 SGD/month for standard plans) 2% fee after that |
| YouTrip travel money card | No charge | Exchange rates may include a markup | Withdraw 400 SGD/month free, then 2% fee applies |
| Citi PremierMiles credit card | 196.2 SGD annual fee | Network rate + 3.25% foreign transaction fee | 15 SGD or 8% cash advance fee, whichever is higher, plus immediate interest |
| DBS Altitude credit card | 196.2 SGD annual fee | Network rate + 3.25% foreign transaction fee | 15 SGD or 8% cash advance fee, whichever is higher, plus immediate interest |
| UOB PRVI credit card | 261.6 SGD annual fee | Network rate + 3.25% foreign transaction fee | 15 SGD or 8% cash advance fee, whichever is higher, plus immediate interest |
Wise card
Open a Wise personal multi-currency account and order the Wise card for a one time fee. You’ll get your card details instantly, and your physical card will be with you in around 3 days. You can hold, convert, send and spend in 40+ currencies from your Wise account - and make payments in 150+ countries with your card.
| Pros of the Wise card | Cons of the Wise card |
|---|---|
✅ Personal accounts are free to open with no monthly fees ✅ Hold and exchange 40+ currencies in your Wise account ✅ Auto convert feature allows you to get the cheapest available currency conversion ✅ Freeze and unfreeze your card in the Wise app and get instant transaction notifications | ❌ 8.5 SGD fee for your first card ❌ ATM fees apply if you make more than 2 withdrawals a month ❌ Spending limits apply ❌ No option to top up account in cash or with a cheque |
HSBC travel card
HSBC offers its Everyday Global Account which allows customers to hold and manage 11 currencies in their account, and spend on a linked debit card. HSBC doesn’t charge a fee when you spend or withdraw currencies you hold from an in-network ATM - but there may be an exchange fee applied when you switch from one currency to another. These fees can be tricky to spot, as they may be wrapped up in the exchange rates used.
| Pros of the HSBC travel card | Cons of the HSBC travel card |
|---|---|
✅ Hold and manage 11 currencies in your account ✅Earn cashback on spending and interest on your SGD balance ✅No HSBC fee for withdrawing currencies you own at an HSBC ATM ✅Access Global Transfers when you want to send funds overseas | ❌ Minimum balance requirements apply - 2,000 SGD for a standard account ❌In branch international payments cost 55 SGD ❌Receiving an inward payments cost 10 SGD ❌Early close fees apply |
Revolut Money Travel Card
Revolut offers several different account plans which can be opened and operated online or in the Revolut app. Get a Standard account with no monthly fee, or upgrade to a plan which has a monthly charge to unlock more benefits. All accounts come with a linked debit card, and can hold and handle 30+ currencies. You’ll also be able to make withdrawals at ATMs internationally, with no fee for withdrawal of up to 350 SGD for the standard plan.
| Pros of the Revolut travel card | Cons of the Revolut travel card |
|---|---|
✅Pick the plan that suits your needs ✅ Covers 30+ currencies and lets you spend in 150 currencies with your card ✅ Standard accounts have no monthly fees and come with some impressive perks ✅ Some weekday currency exchange is offered with the Revolut rate and no additional fees, depending on your account plan | ❌ Some plans cost up to 19.99 SGD/month ❌Once you’ve hit your ATM withdrawal limits you pay 2% fees for each withdrawal ❌Out of hours currency exchange, and fair usage fees apply |
YouTrip travel money card
YouTrip cards can be used to hold 10 currencies, spend and make cash withdrawals. There’s no fee to exchange currencies within the account, but there may be a charge rolled up into the exchange rate applied so it’s worth comparing the rates offered against the Google rate so you know exactly what you’re paying.
| Pros of the YouTrip travel money card | Cons of the YouTrip travel money card |
|---|---|
✅ Popular and recognized local brand ✅ 10 supported currencies ✅ Some free ATM use monthly before a fee begins ✅ Manage your account and card from the YouTrip app | ❌2% cash withdrawal fee once free monthly withdrawals are exhausted ❌Exchange rate markups may apply when you convert from one currency to another ❌Fees apply when you top up with a credit card |
Citi PremierMiles credit card
The Citi PremierMiles credit card is a travel optimised card which you can use to pay for your spending at home and abroad, earning Citi miles as you go. You’ll be able to collect miles at a higher rate when you’re spending in a foreign currency, and then trade in your points for travel, gifts and other perks. As with any credit card, there are various eligibility rules, including a minimum income which is higher for foreigners compared to Singapore citizens and PRs.
| Pros of the Citi PremierMiles credit card | Cons of the Citi PremierMiles credit card |
|---|---|
✅ 1.2 miles on local spend, rising to 2.2 miles on overseas spending ✅Points don’t expire and can be redeemed for future travel and gifts ✅2 airport lounge visits offered annually | ❌ 196.2 SGD annual fee ❌ Currency exchange has a 3.25% foreign transaction fee ❌15 SGD or 8% cash advance fee, whichever is higher, plus immediate interest |
DBS Altitude credit card
The DBS Altitude credit card lets you earn rewards which don’t expire, with higher reward levels on foreign currency spending. You can also get other perks including free lounge access through a Privilege Pass membership which is offered as part of your package. You must meet a minimum income requirement of 30,000 SGD or 45,000 SGD for foreigners in Singapore, in order to apply.
| Pros of the DBS Altitude credit card | Cons of the DBS Altitude credit card |
|---|---|
✅ Earn up to 5 miles a dollar, which you can redeem for travel later ✅ Annual fee is waived in year 1 and can be waived in subsequent years by meeting a minimum spend ✅ Privilege Pass membership is offered, which gets you some free airport lounge access | ❌ 196.2 SGD annual fee ❌Currency exchange has a 3.25% foreign transaction fee ❌15 SGD or 8% cash advance fee, whichever is higher, plus immediate interest |
UOB PRVI credit card
The UOB PRVI card has high reward earning opportunities, including up to 5 miles a dollar if you’re spending in foreign currencies. There’s a pretty high annual fee to pay, but this does also get you some other perks including some complimentary travel insurance and 4 annual visits to airport lounges. Minimum income rules apply, but you can also place a minimum collateral to access this card if you don’t have a high enough income.
| Pros of the UOB PRVI credit card | Cons of the UOB PRVI credit card |
|---|---|
✅Earn up to 5 miles per dollar spend on overseas spending ✅4 annual lounge visits are included in the package ✅Foreigners can get a card with a fixed collateral if they don’t meet the minimum income requirements | ❌Very high 261.6 SGD annual fee ❌Currency exchange has a 3.25% foreign transaction fee ❌15 SGD or 8% cash advance fee, whichever is higher, plus immediate interest |
How does a travel card work?
If you have a travel debit or prepaid card, whenever you spend or make a cash withdrawal with your travel card, the money will be deducted from your account balance, which means there’s no interest cost to worry about, and no chance you can accidentally blow your travel budget. However, by choosing a travel card you’ll often be able to hold your account balance in different currencies, like US dollars or British pounds.
Top up your account in Singapore dollars and switch to the currency you need when you need it - or look out for a great rate and convert in advance so you’re making the most of your money. Holding foreign currency on your travel card makes it convenient to spend internationally, and means you’ll know in advance exactly how much foreign currency you have to enjoy when you travel.
It’s normally easy to get a travel card through an app, website or by calling a provider. Travel cards are also secure as they’re not usually linked to your primary bank account, and mean there’s no need to tell your normal bank you’re heading off overseas.
If you’d prefer a travel credit card you can apply through a bank, but you must meet certain eligibility requirements including a minimum income. Your spending will be converted back to SGD including the foreign transaction fee, and then you’ll be billed monthly in SGD, with interest applied to late or incomplete payments.
How can I use a travel debit card abroad?
Use your travel debit card internationally just as you would use your normal card here in Singapore. Travel cards often come with handy contactless and mobile functionality to tap and pay wherever you are.
You’ll need to make sure your card’s network is accepted by the merchant or ATM - look out for the network symbol, like Visa or Mastercard, which will be displayed. You’ll also want to double check all costs of using your card in advance, as these can vary somewhat by provider. And finally, remember to pay in the local currency when you’re abroad. That’s important to avoid dynamic currency conversion (DCC) which is where you’re charged overseas in Singapore dollars, which sounds convenient, but actually means extra fees and a bad exchange rate.
How to request a travel card
You may choose to get a travel card from your bank, or through an online and digital provider like Wise or Revolut. Providers like these allow you to open an account easily with a 100% online onboarding process.
To give an example, here’s how to get a Wise card in a few simple steps:
Download the Wise app or head to the Wise desktop site
Sign up for a Wise account with just an email address, Google, Facebook or Apple ID
Get verified using your Singpass and Myinfo - or by manually uploading a photo of your ID documents
Order your card online or in the Wise app for a one off 8.5 SGD fee
Your physical card will arrive within a few days - or you can access your card details in the Wise app right away for mobile payments
What are the transaction fees applied to a travel card?
There are a few different common types of travel card - which we’ll run through in just a moment. Each has its own fees, but there are a couple of common charges it’s worth looking out for, no matter which card you choose:
Exchange fee
An exchange fee - which can be called a currency conversion charge, a margin or a spread, among other things - covers the costs of exchanging currency for international spending. In some cases this fee is split out so you can clearly see it - but often it’s a cost added into the exchange rate, which is less transparent and means you’ll have to double check the rates applied against the mid-market rate to see how much it’s costing you.
Withdrawal fee
Even if you hold the currency you need in your account, you might still need to pay a withdrawal fee when you get cash from an ATM. Your bank might add a charge for this service, and there may also be an extra cost added by the ATM operator itself. Keep an eye on the ATM to see any extra charges, as these are usually disclosed during the transaction, or in a notice displayed on the ATM terminal.
Pros of Cons of Travel cards
There are several different types of travel cards, as we’ve seen. Each has its own pros and cons, so you’ll need to weigh up the options to help you pick the travel card type which works best for you. Here’s a quick look at some common advantages and disadvantages of a few travel card types to think about:
Advantages and disadvantages of Travel Debit Cards
| Pros | Cons |
|---|---|
| ✅ Providers like Wise and Revolut let you hold dozens of currencies in your account ✅ Spend globally wherever the network is accepted ✅ Convert currencies manually or automatically, usually with excellent exchange rates ✅ Fees can often be low compared to credit card us | ❌ You’ll need to add money to your account in advance of spending ❌ Some costs are inevitable, often including ATM costs or conversion fees ❌ No branch service or network if you pick a digital provider |
Advantages and disadvantages of Travel prepaid Cards
| Pros | Cons |
|---|---|
| ✅ Services like YouTrip offer flexible, cheap cards for global use ✅ Hold foreign currencies in your digital account ✅ Some providers offer extras like budget management and bill pay services ✅ Cards are contactless and usually offered with mobile wallet compatibility | ❌ Fees are likely to apply to getting a card and spending ❌ Top up costs apply which can be high for some payment types ❌ You’ll need to add money before you can spend |
Advantages and disadvantages of Travel Credit Cards
| Pros | Cons |
|---|---|
| ✅ Earn air miles or rewards as you spend ✅ No need to have money in advance of travel, you can pay it back over a few months instead ✅ Sometimes possible to waive the annual fee when you spend frequently ✅ Credit cards can be used as a payment guarantee when hiring a car | ❌ Annual fees apply which can be very high ❌ Foreign transaction fees usually apply ❌ Cash advance charges in an ATM can be at least 15 SGD |
Are there any limitations on the travel debit card?
Of course, different types of travel cards also have some drawbacks, which may not make them the best choice for everyone. Here are a few things to consider:
You often can’t use a travel debit card to pay a security deposit or hire a car - you could use a credit card for this instead
Prepaid travel cards can have costs which apply when you add money to your account, which debit and credit cards might not have
Travel credit cards can have annual and ongoing fees to pay which makes them more expensive than debit or prepaid cards
Conclusion
If you travel or spend internationally a travel card might offer a more flexible and convenient way to manage your money. You might want to pick a travel debit or prepaid card which lets you hold a balance across several different foreign currencies, for easy budgeting and spending while you’re away. Or perhaps you’d prefer to earn rewards and travel perks when you spend - which you can do with a travel credit card. Travel debit, prepaid and credit cards all have their own perks, so you’re sure to find one which suits your own spending preferences with a little research. Use this guide to give you a headstart and to find the perfect travel card for your needs.
FAQ
An international debit card lets you spend and make cash withdrawals in a range of foreign currencies - often with lower fees than using your normal bank card.
Many online and specialist providers allow you to apply for a card easily through a desktop site, app or call centre.
Use your travel debit card just like you would your regular card, to spend and make cash withdrawals around the world.
Travel debit card fees do vary based on the provider, and can include ATM charges, early closure fees and exchange rate markups. Compare a few providers to get the best available deal for your needs.