facebookDoes 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)? - Seedly
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SGEmployeeMan

Asked on 21 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.

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SW

Shaun WQ Lim

Level 8. Wizard

Answered on 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.

2

SGEmployeeMan

SGEmployeeMan

22 Aug 2020

I saw the Etoro website saying it does not allow withdrawal of USD back to Revolut. Should I continue using SG debit card to deposit which may cause me to lost $$ due to currency conversion rate. Also, withdrawing will have another round of conversion rate..

SW

Shaun WQ Lim

22 Aug 2020

You could use PayPal as an alternative?

Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

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