6 Best Banks for International Travel of 2025

Using the right bank can significantly reduce your travel costs and enhance your experience abroad. To identify the best banks for international travel for Singaporeans, we considered key features such as:

• Foreign transaction fees

• Currency conversion rates

• International ATM withdrawal costs

• International money transfer options

• Multi-currency account availability

Here are our top picks for the best banks in Singapore for international travel:

Singsaver’s take

Why it’s our pick

DBS, recognised as Asia's Safest Bank, is a leading Singaporean bank offering a wide range of personal banking services, with a strong emphasis on digital solutions and international functionality. For travellers, DBS provides convenient solutions for managing funds across borders. The DBS Multiplier account allows users to earn rebates on groceries.

Pros:

• Exchange and spend your foreign currencies in 71 countries at competitive rates.

• Transfer foreign currency funds overseas directly at zero fees.

• Top up or transfer your excess funds back to your account after your trip.

• Earn bonus interest by crediting salary and spending in multiple categories.

• Earn cashback on overseas spending.

• Seamless currency conversion via DBS digibank.

• No monthly account fees.

Cons:

• Bonus interest tiers can be complex.

• ATM withdrawal fees may apply depending on the network.

• Requires maintaining relationships with DBS products to maximise benefits.

Related travel card: DBS Altitude Visa Signature Card (for miles accumulation on overseas spending).

Singsaver’s take

Why it’s our pick

Standard Chartered is a global bank with a presence in Singapore, providing a wide array of financial services, including savings accounts, credit cards, loans, and wealth management. Known for its international banking services, Standard Chartered facilitates global transactions and offers solutions for individuals with international financial needs. A key offering is the Bonus$aver account, designed to maximise interest earned by meeting specific criteria, such as salary crediting, card spending, and utilising other Standard Chartered products.

Pros:

• Access up to 14 different currencies with no overseas transaction fees.

• Bonus$aver account offers up to 6.05% p.a. interest by meeting certain criteria.

• Multi-currency features available.

• Global network for easy access to funds.

Cons:

• Bonus$aver account requires meeting specific criteria to maximise interest.

• ATM withdrawal fees may apply depending on the network.

Related travel card: Standard Chartered Visa Infinite Credit Card (for travel perks and miles).

Singsaver’s take

Why it’s our pick

HSBC offers a range of personal banking services, including accounts, credit cards, loans, and wealth management. A key feature is its international banking services, facilitated by HSBC Global Transfers, which allows for seamless transfers between HSBC accounts worldwide with no transfer fees. The HSBC Everyday Global Account is a multi-currency account that supports transactions in multiple currencies.

Pros:

• Global Transfers lets you transfer funds to your other HSBC accounts instantly.

• Get real-time exchange rates with HSBC's Online GetRate feature.

• S$0 withdrawal fees at HSBC ATMs worldwide except for Argentina, Brazil, France, Greece, and several other nations.

• Hold and transact in up to 11 foreign currencies.

Cons:

• May have specific eligibility criteria for certain accounts and services.

• Fees may apply for certain transactions or services.

Related travel card: HSBC Advance Credit Card (for rewards on overseas online spending).

Singsaver’s take

Why it’s our pick

OCBC provides a range of personal banking services, including savings accounts, credit cards, loans, and wealth management solutions. Two notable accounts are the OCBC 360 Account and the Global Savings Account. The OCBC 360 Account allows users to earn bonus interest by crediting their salary, saving, spending on OCBC cards, and purchasing insurance or investment products with OCBC. The OCBC Global Savings Account supports transactions in multiple currencies and aims to minimise foreign currency transaction fees.

Pros:

• Hold and transact in up to 10 currencies.

• No foreign currency transaction fee when you use an OCBC debit card.

• Lock in your desired FX rates with FX Auto-Execute Orders on OCBC Digital.

• No foreign exchange admin fees will be incurred for cash withdrawals.

Cons:

• OCBC 360 Account's bonus interest tiers can be complex.

• Minimum balances may be required for certain accounts.

Related travel card: OCBC 90°N Visa Card (for rewards on overseas purchases).

Singsaver’s take

Why it’s our pick

Citibank offers a wide range of personal banking services, including accounts, credit cards, loans, and wealth management. A key feature for international transactions is the Citibank Global Wallet, which allows users to hold and transact in up to 15 currencies with zero foreign currency conversion fees for overseas and online spending. It also offers real-time FX rates and the ability to set price alerts.

Pros:

• Free international transfers to other Citibank accounts.

• Extensive global ATM network.

• Hold and spend in up to 15 currencies.

• Zero foreign currency conversion fees with Global Wallet.

• Real-time FX rates and price alerts.

Cons:

• May have specific eligibility criteria for certain accounts and services.

• Fees may apply for certain transactions or services.

Related travel card: Citi PremierMiles Card (for miles accumulation and travel benefits).

Singsaver’s take

Why it’s our pick

UOB offers a comprehensive suite of personal banking services, including savings accounts, credit cards, loans, and wealth management solutions. For those with international transaction needs, the UOB Mighty FX account is a key offering. This multi-currency account allows users to transact in up to 20 foreign currencies and offers competitive exchange rates, particularly through the UOB Mighty app.

Pros:

• Wide range of banking services and products.

• UOB Mighty FX account for multi-currency transactions.

• Competitive exchange rates, especially via the Mighty app.

• Digital banking capabilities through the Mighty app.

Cons:

• May have specific eligibility criteria for certain accounts and services.

• Fees may apply for certain transactions or services.

Related travel card: UOB PRVI Miles World MasterCard (for miles accumulation on overseas spending).

In Singapore, opening an international bank account typically requires proof of identity, proof of address, and may involve meeting certain minimum balance requirements. Some banks may also require proof of income or employment, especially for higher-tier accounts.

• Wise (formerly TransferWise): Multi-currency accounts with competitive exchange rates and low fees. Read our review.

• YouTrip: A multi-currency travel wallet with competitive exchange rates and no foreign transaction fees. Read our review.

Aside from choosing the right bank account, there are several other strategies you can employ to minimise banking costs while travelling. Here's a breakdown of different approaches and accounts to consider:

When spending money abroad:

• Open a multi-currency account: Think of it as your digital travel wallet. These accounts allow you to pre-load foreign currencies at potentially favourable rates, bypassing the often-punitive exchange rates found at airport kiosks. Ideal for frequent flyers and digital nomads, providers like DBS, OCBC, UOB, and fintech disruptors, such as Wise and Revolut, are changing the game.

• Use a credit card with no foreign transaction fees: For everyday purchases, a credit card designed for globetrotters is a must-have. These cards typically waive foreign transaction fees, allowing you to spend like a local without the added expense. Compare the best credit cards for overseas travel to find your perfect travel companion.

When dealing with cash abroad:

• Seek out fee-friendly debit cards: A debit card with minimal or no foreign ATM fees is your best friend in cash-heavy destinations. While some banks advertise fee waivers, always double-check for potential charges levied by the ATM operator.

• Leverage your bank's currency exchange services: Before departure, explore your bank's currency exchange options. Often, they offer more competitive rates than those found at tourist traps.

When sending money abroad:

• Consider money remittance services: Skip traditional bank wire transfers and explore specialised services like Wise or Revolut. They often provide superior exchange rates and lower fees, especially for smaller, more frequent transfers.

When managing wealth abroad:

• Explore private banking options: Private banking offers bespoke services tailored to high-net-worth individuals with global interests. Expect dedicated relationship managers and exclusive investment opportunities.

• Consider offshore banking: For those managing international businesses or planning extended stays abroad, offshore banking may offer advantages. However, proceed with caution and be aware of the regulatory landscape.