POSB Debit Card & Credit Card Charges

POSB Card Rates & Fees

POSB Debit Card - Fees and Charges
Foreign currency transactions	Visa/Mastercard transactions in US Dollar shall be converted to Singapore Dollar on the date of conversion. Transactions in other foreign currencies will be converted to US Dollar before being converted to Singapore Dollar. UnionPay transactions in US Dollar, Chinese Yuan and Brunei Dollar shall be converted to Singapore Dollar on the date of conversion. Transactions in other foreign currencies will be converted to US Dollar before being converted to Singapore Dollar. Conversions shall be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by the respective Card Associations. The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation. All transactions in foreign currency (including refunds and reversals) are subject to a charge imposed by the respective Card Associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. For foreign currency transactions converted by Visa/Mastercard, a conversion factor of 1% is applied on the converted amount. For foreign currency transactions converted by UnionPay, a conversion factor of 0.6% is applied on the converted amount. In addition, an administrative fee for services provided or actions taken by us in relation to such foreign currency transactions shall be payable by you and debited from your Account. Our prevailing administrative fee is up to 2.65% on the converted Singapore Dollar amount. Total administrative fees and fees for conversion factor shall not exceed 3.25%.
Dynamic currency conversion	If your transaction is converted to Singapore Dollar via dynamic currency conversion (a service offered at selected overseas merchants or websites), you acknowledge that the process of conversion and the exchange rates applied will be determined by the relevant merchant or dynamic currency conversion service provider, as the case may be. All transactions converted via dynamic currency conversion (including refunds and reversals) will be subject to an administrative fee of 2.8% on the converted Singapore Dollar amount, which includes a 1% fee by Visa/Mastercard or 0.6% fee by UnionPay, and shall be payable by you and debited from your Account.
Singapore Dollar transactions processed outside of Singapore	All transactions processed outside of Singapore but charged in Singapore Dollar (i.e. without any currency conversion) (including refunds and reversals) will be subject to an administrative fee of 2.8% on the total transaction amount, which includes a 1% fee by Visa/Mastercard or 0.6% fee by UnionPay, and shall be payable by you and debited from your Account. This includes but is not limited to any transaction in Singapore Dollar on overseas-based websites and mobile applications.
Cash withdrawals at overseas ATMs	The amount withdrawn is subject to a charge imposed by the respective Card Associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. For overseas cash withdrawals converted by Visa/Mastercard, a conversion factor of 1% is applied on the converted amount. For foreign currency transactions converted by UnionPay, a conversion factor of 0.6% is applied on the converted amount. In addition, an administrative fee for services provided or actions taken by us in relation to such overseas cash withdrawals shall be payable by you and debited from your Account. Our prevailing administrative fee is up to 2.65% on the converted Singapore Dollar amount. Total administrative fee and fees for conversion factor shall not exceed 3.25%. There is a service charge of S$7 per cash withdrawal at overseas Visa/Mastercard ATMs. You will enjoy a preferential service charge of S$2 if you use Mastercard at the ATMs of Bank of Central Asia (BCA, Indonesia) and Bank of Philippines Island (Philippines) or Visa/Mastercard at the ATMs of HDFC (India). Cash withdrawal will be free of charge if you use Visa/Mastercard at DBS Hong Kong, DBS Taiwan and Westpac Group ATMs in Australia (Westpac, St. George Bank, Bank of Melbourne and BankSA) or Visa Card at DBS India and DBS Indonesia ATMs. Service charge for DBS UnionPay Platinum Debit Card, DBS Treasures Visa Debit Card, DBS Treasures Private Client Visa Debit Card and DBS Private Bank Visa Debit Card will be waived until further notice. Where we allow your Card to be tagged to a Multi-Currency Account and used for any and/or all foreign currency funds in the Multi-Currency Account, foreign currency transactions and overseas cash withdrawals will be directly authorised from the respective foreign currency wallets within the Multi-Currency Account in the foreign currency directly, provided that there are sufficient funds in the relevant foreign currency. The service charge of S$7 per cash withdrawal will be charged in the equivalent foreign currency. For example, your US Dollar cash withdrawal in New York will be charged US$5. Click here for the list of fees in foreign currency.
Other charges	We may, at our sole discretion, debit from your Account, all applicable fees and charges, including but not limited to: a non-refundable service fee for the maintenance of your Card and/or Account; administrative fee for production of documents/statements, an administrative fee for any replacement card or documents relating to your Card; cancellation fee for “no show reservation“, a charge for cancelling or failing to fulfil an airline or hotel reservation secured through your Card; service charge/administration fee, any action taken by us in carrying out any of your instructions and/or requests relating to your Card or Account, whether such service or action is referred to or contemplated in this Agreement or otherwise; and/or charges or fees for the provision and/or use (authorised or unauthorised) of SMS Alerts service, including any liabilities to, and loss suffered by us as a result of the provision and/or use of SMS Alerts service.

As at 30 December 2020

POSB Credit Card ChargesLate Payment Charge Per AccountS$100 will be levied if minimum payment is not received on the card account by payment due date, provided your outstanding balance is above S$200, with effect from 27 April 2021.Finance Charges For Card Transactions

Finance Charge: Prevailing interest rate of 27.8% p.a. (subject to compounding if the charges are not repaid in full) on the transaction amount, chargeable on a daily basis from the date of transaction until receipt of full payment (Minimum charge: S$2.50)

No finance charges will be levied if payment is received in full by the "Payment Due Date", and there is no balance carried forward from the previous statement.

Cash Advance Charges

Fee: 8% of the amount withdrawn per transaction (minimum charge of S$15).

Finance Charge: Prevailing interest rate of 28.5% p.a. (subject to compounding if the charges are not repaid in full) on the amount withdrawn, chargeable on a daily basis from the date of withdrawal until receipt of full payment (minimum charge of S$2.50).

Interest AdjustmentIf minimum payment is not received by the payment due date, an additional interest rate of 3% p.a. will be added to the prevailing interest rate of your Card Account, and shall take effect from the day after your next Card Account Statement date. The reinstatement to such prevailing interest rate will be effective on the first working day after your next Statement date once minimum payment is made in full on or before your payment due date.Minimum Monthly Repayment3% of the statement balance (or S$50, whichever is greater) plus any amount that is overdue and/or exceeds your credit limit.Liability for Lost/Stolen CardIf your Card is lost or stolen or if the PIN is disclosed without your authorisation, your liability for unauthorised transactions effected after such loss, theft or unauthorised disclosure but before we are notified thereof shall be limited to S$100 only if :

you have immediately notified us of the loss, theft or unauthorised disclosure;

you assist us in the recovery of the unauthorised charges incurred;

you furnish us with a police report accompanied by written confirmation of the loss, theft or unauthorised disclosure and any other information that we may require; and

we are satisfied that such loss, theft or unauthorised disclosure is not due to your negligence or default.

You shall not be liable for any transactions carried out after we have been notified of the loss, theft or disclosure.Annual Fee &/or Welcome GiftAnnual fee waiver and welcome gift (if any) are applicable to new principal cardholder only. Cardholder will not be eligible for such promotions upon approval when they re-apply for the credit card within 90 days from date of termination of the same card.Foreign currency retail transactionCard transactions in US dollars shall be converted to Singapore dollars on the date of conversion. Transactions in foreign currency other than US Dollars will be converted into US dollars before being converted into Singapore dollars. All conversions shall be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by the respective card associations, namely VISA International, MasterCard International & American Express International, Inc. The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation.All card transactions in foreign currency (including refunds and reversals) are subject to a charge imposed by the respective card associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. For foreign charges converted by Visa/MasterCard, Visa/MasterCard applies a conversion factor of 1% to the converted amount. For foreign charges converted by American Express, American Express applies a conversion factor of 1% to the converted amount.An administrative fee for services provided or actions taken by us in relation to such foreign currency transactions shall be payable by you and debited to your Card Account. The prevailing administrative fee is 2.25% of the foreign currency transaction amount for transactions involving VISA International and MasterCard International and 2% of the foreign currency transaction amount for transactions involving American Express International, Inc.For illustration purpose only:

Charge in foreign currency	Foreign currency (e.g. MYR, HKD, USD, Euro)
Foreign exchange rate	Determined by VISA International and MasterCard International
Currency conversion charge imposed by card associations	1%
Our administrative fee	2.25%
Total fees	3.25%, on top of the prevailing foreign exchange rate determined by Visa/MasterCard

Dynamic currency conversionIf your card transaction is converted to Singapore dollars via dynamic currency conversion (a service offered at certain overseas merchants or websites), you acknowledge that the process of conversion and the exchange rates applied will be determined by the relevant merchant or dynamic currency conversion service provider, as the case may be.Card transactions converted via dynamic currency conversion (including refunds and reversals) will be subject to an administrative fee of 1% by Visa or MasterCard respectively on the converted Singapore dollar amount, or such other rate as determined by us and notified to you.For illustration purpose only:

Transaction performed in home currency, but merchant location is outside Singapore
Foreign exchange rate	determined by the relevant merchant or dynamic currency conversion service provider
Administrative fee by Visa/MasterCard	1% by Visa or MasterCard on the converted SGD amount
Total fees	1% by Visa or MasterCard on the converted SGD amount

Singapore dollar transactions processed outside SingaporeAll card transactions processed outside Singapore but charged in Singapore dollar (i.e. without any currency conversion) (including refunds and reversals) will be subject to an administrative fee of 1% by Visa or MasterCard, which shall be payable by you and debited from your Card account. This includes but is not limited to any card transaction in Singapore dollars on overseas-based websites and mobile applications.

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