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SGEmployeeMan

22 Aug 2020

∙

Does anyone know would it be better to use frank debit card or OCBC 365 credit card for foreign currency conversion (e.g. SGD to USD)?

I’m actually adding funds to Etoro platform but they only accept USD, so I wonder does the 2 cards have different currency exchange fee, and which is better.

OCBC 365 Credit Card OCBC FRANK Credit Card

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Wrong Sean

22 Aug 2020

I don’t think it makes a difference unless it is explicitly stated that either of those cards have lower exchange rates. Both will use the bank forex rate for conversion. Read the T&Cs.

Use TransferWise/Revolut etc for such stuff. Apply for their debit cards.

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What's the best credit card for foreign currency spends? I do quite a bit of online shopping but mostly are not SGD currency. (Or, maybe debit cards are still the best?)

Are you 100% sure that using Transferwise or Revolut will secure better rate than funding sgd directly into Saxo USD acc that charges currency conversion fee of mid spot rate +/- 0.75%?

Is it cheaper to purchase on a website in e.g USD or local currency? the websites i purchase from will show the price for SGD. Assuming normal bank debit/credit card is used, which is a cheaper option?

How should I pay for my hotel overseas (Rupiah)? DBS Debit Card, CIMB Credit Card or get a Youtrip card since DBS Debit and CIMB Credit card will incur more fees, e.g. foreign transaction fees ?

In what case would you get the ICBC dual-currency credit card? Would a multi-currency card be more useful?

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