Credit Card Fees for Foreign Currency Transactions

Love for Credit Cards


We love online shopping but often, the prices we see may not be the amount that our items really cost. Why? Besides foreign currency exchange, the bank/ financial institution will charge you an administrative fee.

Because I love online shopping, I noted that the amount I paid for the same pair of item differs when I used different credit cards. Hence, I decided to create this post for shopaholics like me, to have the best deal.

I hope these are useful information and do share with your friends.

Please note that below are for transactions made in foreign currency in Singapore or outside of Singapore.

Visa/ MasterCard/ Amex will charge a cross border/ currency converter fee and the bank/ financial institution will charge an administrative fee.

Credit Card Fees for Foreign Currency Transactions (Paid in foreign currency)

 CARD ISSUER  VISA  MASTERCARD  AMEX Premium Cards
 UOB  2.5%  2.5%  3.25% (1.25%+2%)  Miles: 3.25% (1%+2.25%)
 DBS  up to 2.65%, < 3.25% (1%+2.25%)  up to 2.65%, < 3.25% (1%+2.25%)
 OCBC  2.8% (1%+1.8%)  2.8% (1%+1.8%)  –  –
 Citibank  up to 2.5%  up to 2.5%  up to 3.3%  –
 SCB  3.5% (1%+2.5%)  3.5% (1%+2.5%)  –  –
 HSBC  up to 2.5% (1%+1.5%)  up to 2.5% (1%+1.5%)  –  –
 MAYBANK  up to 2.5% (1%+1.5%)  up to 2.5% (1%+1.5%) Diamante, Infinte, World MC: up to 2.75% (1%+1.75%)
 CIMB  2.4% (1%+1.4%)  2.4% (1%+1.4%  –  Platinum MC, Visa Signature: 1% (Admin fee waived)
 BOC  2.5% (1%+1.5%)  2.5% (1%+1.5%)  –  –
 AMEX  – 2.5%

Table as per 19 November 2016

Visa/MasterCard transactions in USD will be converted to SGD on date of conversion. For transactions in other currencies, they will be converted to USD and then converted to SGD.

Only for UOB cards, transitions in AUD will be converted to SGD on date of conversion. (Last checked in May 2016)

Based on above table, I think I may apply for a CIMB credit card. LOL. I hope to create a table soon for the credit card comparison best for online shopping soon. Check out soon!

Advertisements

About Rei

A mother of 2 who loves travel, food, shopping, face mask and Sale!
This entry was posted in Deals and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s