Xinyi

07 Jun 2019

∙

What are some hidden costs in transactions, payments etc. that most people are paying for but aren't aware of?

I booked an Airbnb recently and found that they charge a conversion fee without really explicitly stating it. Called up my bank just to clarify and was directed to this page: https://www.posb.com.sg/personal/support/card-c... which sort of explained things for me.

Has anyone encountered other hidden costs too? Would love to know!

7

Discussion (7)

What are your thoughts?

Learn how to style your text

nottingz

19 Jul 2022

Me too. Mine was a 2.8% charge - I made bookings via Agoda and Airbnb in SGD currency on the website. But DBS mentioned that as long as it's an overseas transaction using Visa/Mastercard, I'll be charged with this fee. No issues with trip.com tho.

Reply

Save

Yk Lai

07 Jun 2019

I had an experience for booking.com with MYR via Singapore credit card. The booking offered free cancellation. I did make cancellation eventually. So, the refund was of course given in MYR to my credit card. I actually lost about 6% due to conversion rate. I guess this is also a kind of hidden cost. Lesson learned here is to make transaction in SGD if you foresee possible to pursue refund.

Reply

Save

View 3 replies

Jonathan Chia Guangrong

11 Oct 2018

SOC at Local FI

If you are looking to purchase stuff or a service from an overseas site, try to pay for it in the sa...

Write your thoughts

Related Posts

Which payment do you prefer? Cash or Credit or Mobile Payment such as Samsung Pay, Apple Pay, etc.?

Is it possible to make full payment of renovation cost and use DBS preferred payment plan to pay it via 0% installment for 12 mths?

Who pays for the spread and expense ratio if you invest in robo advisors like Stashaway? I understand they charge a 0.5% management fee, are there hidden costs like the spread and expense ratio that Stashaway is not making clear to investors?

How is AutoWealth able to achieve such low costs, despite automated portfolio rebalancing transactions etc?

How do people estimate how much to invest in one counter and also per transaction? Do you set aside different investment amounts for each category, like stocks, REITs, ETFs, etc?

Related Posts

Which payment do you prefer? Cash or Credit or Mobile Payment such as Samsung Pay, Apple Pay, etc.?

Is it possible to make full payment of renovation cost and use DBS preferred payment plan to pay it via 0% installment for 12 mths?

Who pays for the spread and expense ratio if you invest in robo advisors like Stashaway? I understand they charge a 0.5% management fee, are there hidden costs like the spread and expense ratio that Stashaway is not making clear to investors?

How is AutoWealth able to achieve such low costs, despite automated portfolio rebalancing transactions etc?

How do people estimate how much to invest in one counter and also per transaction? Do you set aside different investment amounts for each category, like stocks, REITs, ETFs, etc?