Are you a frequent traveller or an international shopper looking for the best way to manage multiple currencies? Look no further. In this blog post, we will explore the top 6 multi-currency cards in Singapore for 2024.
Whether you are planning your next vacation or just need a convenient way to manage different currencies, these cards can be your ideal travel companion.
Financial preparedness is essential for safe travel, and using multi-currency cards is one way to achieve this. Besides convenience, these cards help avoid the high fees associated with traditional exchange rates. A recent survey revealed that high fees are also a major issue when sending money overseas via digital wallets from Singapore.
In addition, it's also crucial to have comprehensive travel insurance to protect yourself against unexpected events such as medical emergencies, trip cancellations, or lost luggage. By comparing and selecting the best travel insurance in Singapore that meets your needs, you can travel with peace of mind, knowing you're covered for any unforeseen circumstances.
Avoid hefty exchange fees and use the best multi-currency cards for payments. A reliable multi-currency card and robust travel insurance provide a dual layer of financial security and protection, allowing you to focus on enjoying your journey without financial worries.
Table of contents
- How to choose the best multi-currency cards
- What is a multi-currency account
- Finding the best multi currency card for travel
- The pros and cons of multi-currency cards
- Comparison of best multi-currency cards for travellers
- FAQs on multi-currency cards
1. Revolut card
The Revolut card is one of the top choices for travellers. It offers a comprehensive multi-currency account with access to over 30 currencies. Renowned for its user-friendly app and real-time spending analytics, Revolut provides competitive interbank exchange rates, making it an appealing option for frequent travellers.
- Available Currencies: 30+ currencies
- Exchange Rate: Interbank exchange rate
- ATM Withdrawal Fees: Free up to S$350 per month, 2% fee thereafter
- Other Fees: No monthly fees, but some services (e.g., express delivery of card) may incur additional costs
- Notable Features: Instant currency exchange, spending analytics, budgeting tools, virtual cards for online shopping
2. Wise card
Formerly known as TransferWise, the Wise card is distinguished by its transparent and low-cost currency conversion fees. With access to 40+ currencies at mid-market rates, this card is perfect for those needing to manage multiple currencies seamlessly. Wise is known for its low fees and real-time notifications.
- Available Currencies: 40+ currencies
- Exchange Rate: Mid-market exchange rate
- ATM Withdrawal Fees: Free up to S$350 per month, 1.75% plus S$1.5 fee thereafter
- Other Fees: No monthly fees; small conversion fees when exchanging currencies
- Notable Features: Low conversion fees, direct debits in various currencies, multi-currency accounts, real-time spending notifications
3. YouTrip card
The YouTrip card is tailor-made for travellers seeking a hassle-free and fee-free multi-currency card. It supports over 150 currencies and offers interbank exchange rates without additional charges. YouTrip also provides convenient top-up options and travel insurance benefits, making it a convenient choice for international travellers.
- Available Currencies: 150+ currencies
- Exchange Rate: Interbank exchange rate
- ATM Withdrawal Fees: Free for first S$400 withdrawal, 2% withdrawal fee thereafter
- Other Fees: No annual fees; no hidden charges on transactions
- Notable Features: No currency conversion fees, easy top-ups
4. Changi Pay
Changi Pay, offered by Changi Recommends, seamlessly integrates with Changi Airport services and supports payments for overseas destinations like China and Malaysia. This card supports several major currencies and provides competitive exchange rates, particularly beneficial for travellers passing through Changi Airport. It also offers exclusive travel deals and instant currency conversion.
- Available Currencies: Changi Pay can be used in China, Malaysia and any other countries that accept Alipay+
- Exchange Rate: Competitive exchange rates provided by Changi Recommends
- ATM Withdrawal Fees: 2% of the withdrawal amount
- Other Fees: No monthly or annual fees; certain transaction types may incur fees
- Notable Features: Integrated with Changi Airport services
5. DBS multi-currency card
The DBS Multi-Currency Account Debit card allows you to manage 13 major currencies from a single account. With competitive rates provided by DBS, this card makes currency management seamless and offers easy linkage to other DBS services. It is an excellent choice for those seeking to integrate their travel finances with their existing DBS accounts.
- Available Currencies: 13 major currencies
- Exchange Rate: Competitive rates provided by DBS
- ATM Withdrawal Fees: S$7 per cash withdrawal in the equivalent foreign currency
- Notable Features: Seamless currency management with a single account, easy linkage to other DBS services, wide ATM network
6. Instarem Amaze card
The Instarem Amaze card is a great choice for travellers as it provides access to multiple currencies at competitive exchange rates. This card allows you to link your existing credit cards to simplify payments in multiple currencies. It's also beneficial for earning rewards and cashback from linked credit cards, while offering the convenience of multi-currency transactions.
- Available Currencies: Multiple currencies supported through linked credit cards
- Exchange Rate: Competitive exchange rates provided by Instarem
- ATM Withdrawal Fees: Depends on the linked credit card's terms and conditions
- Other Fees: No additional fees for transactions; fees are based on the linked credit card
- Notable Features: Link credit cards to the Amaze card for multi-currency payments; Earn rewards and cashback from linked credit cards
Why You Need Travel Insurance for Your Trip
Besides multi-currency cards, travel insurance is essential for a worry-free trip. It covers medical emergencies, trip cancellations, lost or delayed luggage, travel delays and personal liability, providing financial protection and peace of mind.
With these coverage, you can travel confidently, knowing you’re prepared for unexpected events. Invest in comprehensive travel insurance to ensure a safe and enjoyable journey.
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SingSaver's Most Recommended Travel Insurance Products: Apply today to enjoy comprehensive coverages at affordable premiums, irresistible sign-up offers, and the ultimate peace of mind during your travels.
| Product | Best for | Key coverages | Promotion |
| Allianz Travel Hero [Lowest price in Singapore guaranteed] 
|
High coverage per dollar | - Up to S$500,000 for overseas medical expenses - Up to S$150,000 accidental death and total and permanent disability - Up to S$15,000 travel cancellation - Up to S$3,000 flight delay (S$400 for daily receipts limit, min 6h) - Up to S$3,000 loss of baggage |
Buy now to receive a Complimentary lounge access during flight delays. Valid till 30 September 2024 5:30 pm. T&Cs apply.
|
| FWD Travel Insurance [Best deal guaranteed] 
|
Affordability | - Up to S$1,000,000 for overseas medical expenses - Up to S$400,000 accidental death and total and permanent disability - Up to S$15,000 travel cancellation - Up to S$1,000 flight delay (S$100/6h) - Up to S$7,500 loss of baggage |
Use the promo code SSTRIP to get a 30% discount on Single Trip and Annual Trip plans! T&Cs apply. Complimentary lounge access during flight delays. Valid till 30 September 2024 5:30 pm. T&Cs apply.
|
| MSIG TravelEasy [Best deal guaranteed] 
|
Comprehensive medical coverage | - Up to S$1,000,000 for overseas medical expenses - Up to S$500,000 accidental death and total and permanent disability - Up to S$15,000 travel cancellation - Up to S$1,500 flight delay (S$100/6h) - Up to S$7,500 loss of baggage |
Get 40% off Single Trip and 20% off Annual Trip when you buy NOW! Valid till 28 July 2024. T&Cs apply. Also receive:4 miles per S$1 spend on your premium. Valid till 30 September 2024 5:30 pm. Travel Miles Campaign and Additional 2 Miles Travel Giveaway. T&Cs apply. Complimentary lounge access during flight delays. Valid till 30 September 2024 5:30 pm. T&Cs apply.
|
How to choose the best multi-currency card
When choosing the best multi-currency card, consider your travel or spending habits. Some cards offer better exchange rates for specific currencies, so pick one that aligns with your needs.
Look out for cards with low or no foreign transaction fees to avoid unnecessary charges during international transactions.
Check the available currencies supported by each card to ensure it covers the countries you frequently visit or shop from. Additionally, compare ATM withdrawal fees as they can vary between different cards. It's also essential to review any other associated fees such as annual maintenance costs or reload fees.
Consider the ease of managing your account through mobile apps or online platforms. A user-friendly interface and reliable customer support can make a significant difference in your overall experience.
Also, read reviews and seek recommendations from other users to get an idea of the card's reliability and customer service quality.
What is a multi-currency account
Are you tired of dealing with multiple currencies when travelling abroad or making online purchases in different countries? A multi-currency account might just be the solution you need.
With a multi-currency account, you can manage various currencies all in one place. This means no more hassle of converting currencies every time you make a transaction in a foreign currency.
Having a multi-currency account allows you to save on foreign exchange fees and get better exchange rates compared to traditional banks. It gives you more flexibility and control over your money, especially if you frequently deal with multiple currencies.
Whether you're a frequent traveller or an online shopper who buys from international websites, having a multi-currency account can simplify your financial transactions and help you avoid unnecessary fees.
Finding the best multi-currency card for travel
When it comes to travelling, having the best multi-currency card can make all the difference. With so many options available in Singapore, how do you know which one is right for your travel needs?
The best multi-currency card for travel should offer a wide range of currencies to choose from, low exchange rates, and minimal fees. This ensures that you can access your funds easily and affordably while exploring different countries.
Look for a card that allows you to load multiple currencies at once, so you don't have to constantly worry about currency conversions. Additionally, consider the ATM withdrawal fees and other charges associated with using the card abroad.
Having a reliable customer support system is also crucial when selecting a multi-currency card for travel. You want to ensure that help is readily available in case of any issues or emergencies during your trip.
Ultimately, the best multi-currency card for travel will provide convenience, cost-effectiveness, and peace of mind as you navigate through various destinations around the world.
The pros and cons of multi-currency cards
As we have explored the top 6 multi-currency cards available in Singapore for 2024, it is clear that each card has its own unique features and benefits. When choosing the best multi-currency card for your travel needs, consider factors such as available currencies, exchange rates, ATM withdrawal fees and other charges.
The Revolut card offers a wide range of currencies with competitive exchange rates but may have limitations on free monthly withdrawals. Changi Pay does not support as many currencies as other cards, but the card provides integration with Changi Airport services and exclusive travel deals.
The Wise Multi-Currency Account provides cost-effective transfers and transparent pricing structures but lacks physical card options for offline transactions.
YouTrip stands out for its zero transaction fees and competitive exchange rates, making it ideal for frequent travellers. On the other hand, the DBS Multi-Currency Account card offers convenience for existing DBS customers with linked accounts but may have higher foreign currency conversion fees.
The Instarem Amaze card offers convenient multi-currency payments, real-time currency conversion and rewards from linked cards. However, ATM withdrawal and other fees depend on the linked credit card's terms and conditions, and its benefits rely on the underlying cards' rewards and features.
Ultimately, the best multi-currency card will depend on your individual preferences and travel habits. Consider these pros and cons carefully to make an informed decision that suits your financial needs or spending habits while travelling abroad.
Comparison of best multi-currency cards for travellers
|
Multi-currency Card/Wallet |
Benefits |
Limitations |
|
Revolut Card |
Instant currency exchange, spending analytics, budgeting tools, virtual cards |
Limited free ATM withdrawals, fees for premium services |
|
Wise Card |
Low conversion fees, direct debits in various currencies, real-time spending notifications |
Fees for currency conversion, limited free ATM withdrawals |
|
YouTrip Card |
No currency conversion fees, easy top-ups, for local MRT and bus rides |
2% ATM withdrawal fee, limited advanced features |
|
Changi Pay |
Integrated with Changi Airport services, exclusive travel deals, instant currency conversion |
Limited to few currencies, transaction fees for certain types of payments |
|
DBS Multi-Currency Debit Card |
Seamless currency management, easy linkage to other DBS services, wide ATM network |
S$7 overseas ATM withdrawal fee, account maintenance fee for low balances |
|
Instarem Amaze Card |
Link existing credit cards, earn rewards and cashback, simplified currency management |
ATM fees dependent on linked card, benefits vary with linked card features |
This table highlights the benefits and limitations of the top multi-currency cards available for travellers in Singapore. Choose the one that best fits your travel and financial need.
Final thoughts
When travelling, it's important to have a reliable multi-currency card for managing your finances smoothly. Equally important is to ensure protection against unexpected events.
Pair your multi-currency card with comprehensive travel insurance to cover medical emergencies, trip cancellations and other unforeseen circumstances. By combining the convenience of a multi-currency card with the security of travel insurance, you can enjoy worry-free travel experiences.
Frequently asked questions on multi-currency cards
Can YouTrip be used for MRT?
Yes, a YouTrip card can be used for MRT rides in Singapore, as it is accepted for public transportation payments.
Is YouTrip or Instarem better?
YouTrip and Instarem both have their strengths. YouTrip offers fee-free currency exchange and supports over 150 currencies, making it convenient for frequent travellers. Instarem provides competitive exchange rates and lower transfer fees for international money transfers. The better option depends on your specific needs - YouTrip for travel spending and Instarem for money transfers.
Is YouTrip or Revolut better?
YouTrip is known for its fee-free currency exchange and straightforward usage, while Revolut offers additional features such as budgeting tools, virtual cards, and cryptocurrency support. Revolut might be better for users who want more advanced financial features, while YouTrip is ideal for those looking for simplicity and no hidden fees.
Is YouTrip or Wise better?
YouTrip offers fee-free currency exchange and is great for everyday travel spending, while Wise provides transparent and low-cost international transfers with mid-market exchange rates. If you need to frequently transfer money internationally, Wise might be the better option. For general travel expenses, YouTrip is a solid choice.
What bank is YouTrip under in Singapore?
YouTrip is not directly under a single bank but is issued in partnership with EZ-Link and Mastercard.
What is the best multi-currency wallet?
Revolut and Wise are often considered among the best multi-currency wallets due to their extensive features, competitive exchange rates, and user-friendly interfaces.
What is the downside of YouTrip?
One downside of YouTrip is the 2% fee for ATM withdrawals, which can add up if you frequently withdraw cash while travelling. Additionally, it lacks some advanced financial features offered by competitors like Revolut.
What is the multi-currency prepaid card in Singapore?
YouTrip is a popular multi-currency prepaid card in Singapore, offering fee-free currency exchange and support for over 150 currencies.
Which is the best multi-currency account in Singapore?
The best multi-currency account in Singapore varies by individual needs. Popular options include DBS Multi-Currency Account, Revolut and Wise, each offering competitive exchange rates and various features for managing multiple currencies.
Who is the competitor of YouTrip?
Competitors of YouTrip include Revolut, Wise and Instarem. These cards offer multi-currency services and target travellers and individuals with international financial needs.
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