Youtrip for overseas transactions online?

It's a great question, and the choice between YouTrip and traditional credit cards depends on your specific travel and spending habits. Let's break down the factors to consider:

YouTrip:

• Currency Conversion Rates: YouTrip offers competitive currency conversion rates, often better than those offered by traditional banks.
• No Foreign Transaction Fees: YouTrip doesn't charge foreign transaction fees, which can save you money compared to some credit cards that do.
• Prepaid Card: YouTrip is a prepaid Mastercard. You'll need to top it up with funds before you can use it.
• Mobile App: It comes with a user-friendly mobile app for easy top-ups and monitoring expenses.

Credit Cards:

• Widely Accepted: Credit cards are widely accepted globally, so you won't face acceptance issues that might occur with some prepaid cards.
• Rewards and Benefits: Many credit cards offer rewards, cashback, or miles for overseas spending. Depending on your card, this could offset currency conversion fees.
• Credit Line: Credit cards offer a line of credit, which can be useful in emergencies. You don't need to pre-load them.

Here's what I recommend:

1. Usage Frequency: If you frequently travel or make overseas online transactions, YouTrip's competitive conversion rates and zero foreign transaction fees could be advantageous.
2. Rewards and Benefits: If your credit card offers significant travel rewards or cashback for overseas spending, it might be worth using for specific transactions.
3. Emergency Needs: Consider keeping a credit card for emergency purposes since it provides a line of credit.
4. Load Limits: Be aware of the load limits on prepaid cards like YouTrip. Ensure they meet your spending requirements.

Ultimately, it can be beneficial to have both options available during your travels. Use YouTrip for everyday overseas transactions, but keep a credit card for backup or for purchases that may offer rewards that outweigh any fees.

Remember to compare specific credit card terms and fees with your intended use to determine which option suits your needs best.

If you're considering alternatives to YouTrip for overseas transactions, there are several other travel cards and financial products to explore. Here are a few worth considering:

1. Revolut:

• Revolut offers competitive exchange rates with no hidden fees.
• It allows you to hold and spend in multiple currencies using a single card.
• You can also get a physical debit card.

2. TransferWise (Now Wise):

• Wise provides a multi-currency account with a debit card.
• They offer real exchange rates with low fees.
• It's suitable for both personal and business use.

3. Instarem (Amaze) Card:

• The Instarem (Amaze) Card is associated with the Amaze mobile app, which aims to simplify international money transfers and payments.
• It allows you to spend in multiple currencies with competitive exchange rates.
• You can transfer money internationally through the Amaze app at competitive rates.

4. HSBC Premier Debit Card:

• If you have an HSBC Premier account, this debit card offers no foreign transaction fees and competitive rates.
• It's suitable if you meet their eligibility criteria.

5. Standard Chartered Bank (SCB) Ultimate Card:

• If you prefer using credit cards, the SCB Ultimate Card offers no foreign transaction fees and rewards points on overseas spending.
• It's an option for those who want to earn rewards while spending abroad.

Remember that the best choice for you will depend on your specific financial needs, spending habits, and travel patterns. Consider factors like exchange rates, fees, and any additional benefits (such as travel insurance or rewards) offered by these cards when making your decision.

It's also a good idea to check for any eligibility requirements or fees associated with these cards before applying.

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I am currently a Financial Advisor as well, so feel free to reach out to me on IG (@ngooooied) if you have any further questions！

If you just comparing YouTrip to Credit Cards for online shopping, just use YouTrip or other MCC cards to make payments. Confirm cheaper than CC cause they will charge conversion fees per transaction. However really depends on what benefit you want to get too. Some credit cards you make payments can get points/cashback/miles, so if your priority is to for example rack up miles, of course use the credit card is better even tho need to pay the conversion fee charge.

Personally I use YouTrip now ever since i got it as my main go to for overseas transactions online. Saved alot from my purchases because I get to pay for my cart items at Youtrip's FX rates, which so far is the closest to the wholesale rates seen on google. Compared to paying with credit cards, their FX rates is always poorer than Youtrip's.

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Another thing is that everytime i paid for my overseas items, (like a US online store) with credit cards like CitiBank Cashback card, there's always a CC conversion fee. could end up paying $3-4 more for my items which was quite frustrating. After replacing it with youtrip, I basically save on that fee for every purchase cause Youtrip has no conversion fees. Just top up the amount i need to pay and then checkout ^.^

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So my 2 cents here is that using Youtrip is definitely cheaper to use compared to credit card by banks!

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I use trust bank credit card since I don't need to lock up cash inside a wallet (like youtrip).

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Some people are alright using UOB EVOL card since the cash back of 6 plus % outweighs the 3.75 % fx fees