Conversions shall be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by the respective Card Associations. Total administrative fee and fees for conversion factor shall not exceed 3.25%. If you have $5 in FreeCash, a cash withdrawal of $50 will require payment of $45 instead. The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation. 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. 4K views Withdrawal fees are waived if you withdraw using Plus/Cirrus/UnionPay Card via Westpac Group ATMs in Australia and DBS Hong Kong, and Plus Card via DBS ATMs in India and Indonesia. Related: Daily Withdrawal Limit of … You can change the transfer limit for POSB/DBS to a larger amount if you need to transfer a bigger sum of money to another account or decrease the limit to reduce the outflow of funds.. There is no minimum cash advance withdrawal amount Maximum withdrawal amount from a DBS/POSB ATM is S$3,000 per day A 8% transaction fee or S$15, whichever is greater, applies for each cash advance transaction Finance Charge: Prevailing interest rate of 26.80% p.a. 6,283 posts. Monthly fee. There is no service fee for overseas purchases. Direct access to your Singapore Dollar account at DBS Indonesia and enjoy free conversion fee when you withdraw from DBS ATM/Post Office Savings Bank (POSB) in Singapore. 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. 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. Latest ATM Withdrawal Fees and Charges. Cash Withdrawal, 2.Fast Cash, 3.Balance Inquiry. You’ll then need to:⁵ S$5 service charge per withdrawal will be charged on non-UOB ATMs (Cirrus/Plus). value. Please also note that additional charges may be applied by overseas banks, which will be typically displayed in ATMs before withdrawal. Select “Saving account” Select the option to withdraw in the country’s local currency (e.g: MYR in Malaysia) to avoid DCC charges for currency conversion. Fee: 8% of the amount withdrawn per transaction (minimum charge of S$15). The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation. Click here for the list of fees in foreign currency. Information is easy to understand and find, Information is useful to answer your inquiries completely, Transact & Withdraw in Foreign Currency Overseas, Terms and Conditions Governing Electronic Services, Westpac Group ATMs in Australia (Westpac, St. George Bank, Bank of Melbourne and BankSA), ATMs of Bank of Central Asia (BCA, Indonesia). 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. A step by step guide to using a bank machine to withdraw money. For DBS/POSB ATMs, the maximum amount per transaction is $2,000 and its default daily withdrawal limit is $3,000 (see table). Usually it is 3-5 USD per transaction ( any sum). 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. Transactions in other foreign currencies will be converted to US Dollar before being converted to Singapore Dollar. 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. For the 10 currencies stored in your YouTrip app: As such, SoCash offers banks to use merchants as their virtual ATMs instead. 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. Please take note: Withdrawal Fee: S$5 or equivalent; Daily withdrawal limit: S $5,000 avoid the Citibank ATMs with a foreign card, they do charge you an ATM operator fee (It will prompt you on the screen to accept this extra fee. *Excluding St.George ATMs operated by a third party, for example St.George ATMs located inside BP service stations. For overseas cash withdrawals converted by Visa/Mastercard, a conversion factor of 1% is applied on the converted amount. UOB/OCBC/POSB/MayBank ATMs do not charge any operator fees as far as I have seen. Banks no longer need to maintain so many ATMs. Card transactions in US dollars shall be converted to Singapore dollars on the date of conversion. 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. 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 shall be payable by you and debited from your Account. For online/overseas foreign currency transactions fees, refer to Overseas Card Transaction Fees. Withdraw up to S$5,000 with any purchase at our participating merchants islandwide*. There will be a fee for withdrawals via all other overseas ATMs. Finance Charge: Prevailing interest rate of 28% p.a. Overseas cash withdrawal fee waiver. If 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 shall not be liable for any transactions carried out after we have been notified of the loss, theft or disclosure. Our prevailing administrative fee is up to 2.65% on the converted Singapore Dollar amount. DBS fees are waived on your cash withdrawal overseas. Most of the accounts don’t require any minimum amount to open but you need to take note that some accounts do charge a fall-below fee.. Make a purchase at our participating outlets*. Inquiry with the bank that emitted your cards. So, keep a minimum balance of $500 in your POSB savings account after the account is … For foreign currency transactions converted by UnionPay, a conversion factor of 0.6% is applied on the converted amount. DBS bank is the largest bank in Asia-Pacific by assets and among other larger banks in Asia. Tap and SimplyGo on buses and trains without having to top-up. Edited: 9 years ago. Contact support and we'll try to resolve your issue quickly. There is no minimum cash advance withdrawal amount; Maximum withdrawal amount from a DBS/POSB ATM is S$3,000 per day; A 8% transaction fee or S$15, whichever is greater, applies for each cash advance transaction Amount withdrawn is subjected to foreign exchange rates. And before anyone says it, my bank and card does NOT charge any fees, withdrawal or conversion. There will be a fee for withdrawals via all other overseas ATMs. 2. an administrative fee of S$150 if the Plan is terminated (whether arising from the termination of your Card Account or otherwise) or if you make a prepayment of any amount under the Plan. 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. A step by step guide to using a bank machine to withdraw money. The maximum limit for transfer to another POSB/DBS account is S$25,000 and S$50,000 for … Withdrawal Denominations- S$10 and S$50 at all machines. (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). For each withdrawal made by a customer, SoCash will charge the bank a transaction fee. Part of: Guides > Go Travel with POSB Your bank charges withdrawal fee, not ATM. Visa/Mastercard transactions in US Dollar shall be converted to Singapore Dollar on the date of conversion. However, foreign bank charges may apply except for Westpac Group ATMs in Australia, DBS Hong Kong, DBS India and DBS Indonesia. 18 helpful votes. For example, these banks charge a fee when you make a withdrawal from non-affiliated ATM operators: DBS/POSB: S$7 per withdrawal for cards with the following payment brands: Cirrus, Maestro, Plus. Annual fee waiver and welcome gift (if any) are applicable to new principal cardholder only. 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. Select POSB current accounts … There's a charge of S$5 per cash withdrawal on overseas Cirrus 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). 6. If 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. Read Also: Why I Stopped Withdrawing Money From The ATM This includes but is not limited to any card transaction in Singapore dollars on overseas-based websites and mobile applications. 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. Withdrawal of foreign currencies: For withdrawal of foreign currency overseas charges, refer to Overseas Withdrawal Charges. POSB charges a transfer fee plus an additional cut from the currency conversion and you’ll find that your international funds transfer will likely be routed through DBS Remit & Ott. 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. Our prevailing administrative fee is up to 2.65% on the converted Singapore Dollar amount. You can use the table above to see whether or not your bank has any ATM partners that you can enjoy free ATM withdrawals from. Useful Links A fall-below fee is a type of fee incurred when your account’s daily or monthly balance drops below a stipulated level. For foreign charges converted by Visa/MasterCard, Visa/MasterCard applies a conversion factor of 1% to the converted amount. Key in your YouTrip app 4-digit login PIN as your ATM PIN. POSB Cash-Point. Transactions in foreign currency other than US Dollars will be converted into US dollars before being converted into Singapore dollars. These financial institutions are partnered together so customers can use any of their AT… 1) POSB was founded earlier. Withdrawal fees are waived if you withdraw using Plus/Cirrus/UnionPay Card via Westpac Group ATMs in Australia and DBS Hong Kong, and Plus Card via DBS ATMs in India and Indonesia. 1. DBS Bank Branches & ATMs You may locate the branches and their operation hours with the search function available below. A withdrawal fee may be charged to your account if you will withdraw from other bank’s ATM. UnionPay transactions in US Dollar, Chinese Yuan and Brunei Dollar shall be converted to Singapore Dollar on the date of conversion. 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. For example, the POSB eSavings Account has a fall-below fee of $2 per month if your account balance drops below $500. FreeCash earned can be used to offset your payment when making withdrawals. Banking services at our self-service branches are available 24/7 (subject to mall/building operating hours). You will enjoy a preferential flat service fee of S$2 if you use your Cirrus ATM Card at the ATMs of Bank Danamon (Indonesia), Bank of Central Asia (BCA, Indonesia), HDFC (India) and Bank of Philippines Island (Philippines). Overseas Withdrawal Charges. All card transactions processed outside Singapore but charged in Singapore dollar (i.e. Use your DBS/POSB ATM/Debit/Credit Card(linked to a … ATM partners. 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. There is a service charge of S$7 per cash withdrawal at overseas Visa/Mastercard ATMs. DBS Bank Ltd is the Singaporean multinational bank headquartered in Marina Bay Singapore. 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). 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. However, SoCash estimates that banks are paying around USD$200 million a year on ATM expenses! I saw a fee on a DBS ATM once, but I think the bank does not charge it anymore as I do no longer get this prompt anymore, however the DBS ATM like to "offer" you the DBS Bank currency … Report inappropriate content . For example, your US Dollar cash withdrawal in New York will be charged US$5. Here are some fee types that you should be familiar with before choosing a POSB bank account: Fall-below fee. This includes but is not limited to any transaction in Singapore Dollar on overseas-based websites and mobile applications. 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. UOB: S$5 per withdrawal. This reduces their costs significantly. Re: Do Singapore ATMs charge a withdawl fee? For foreign charges converted by American Express, American Express applies a conversion factor of 1% to the converted amount. 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.
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