What to Do If You Accidentally Overpay Your Credit Card

Overpaying your credit card simply means you've paid more than the total amount due. For example, if your statement shows $150 and you pay $300, you've overpaid by $150. This can happen if you’ve got GIRO set up and make a separate manual payment, or if you input an extra zero when transferring funds via your bank app.

The good news? There's no penalty in Singapore for overpaying your card — though it does mean you'll be temporarily out of pocket. You’ll also have a few ways to recover the extra money if needed. Here’s what you need to know.

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When you overpay your card, your account goes into a negative balance — also called a credit balance. Taking the earlier example, if you owe $150 but pay $300, your balance becomes -$150.

This credit will automatically go towards any future transactions. So, if you later spend $120, it’ll be deducted from your credit, and your new balance will be -$30.

This is standard across Singapore banks like DBS, OCBC, UOB, Citibank, and HSBC, and is visible in your statement or online banking under the “Balance” section (often noted as “CR”).

You won't be charged interest, but your available credit may be reduced temporarily — especially if your card has a lower limit.

If you don’t want to leave the credit sitting unused, you can request a refund from your bank — and yes, you’re entitled to it.

In Singapore, all major banks (like DBS, UOB, OCBC, Citibank, and HSBC) allow refunds of credit card overpayments, but the process differs slightly depending on your card issuer.

Here’s how it typically works:

• Online banking: Some banks allow you to submit a refund request through their desktop site or mobile app. For example, Citibank lets you raise the request via live chat, while others like UOB may require you to call or email.

• Customer service hotline: Call the number on the back of your card. Have your card details and recent transaction info ready to speed things up.

• Branch visit: Some banks may allow you to walk in to initiate the request, though this is usually not necessary.

However, you should be prepared to wait. Refunds can take anywhere from 7 to 14 working days, and possibly longer if your bank needs to verify details.

The refunded amount is typically returned to your linked bank account, not to another credit card or external account. If your card account has been closed, you’ll still receive the funds — but the bank may request additional verification before processing the refund.

If you’d rather not go through the hassle, you can also choose to leave the credit balance on your card and let it offset future purchases. However, if you're not planning to use the card in the near future, it's best to get your money back.

» READ: How to check your credit report in Singapore

Overpaying your card by a few hundred dollars is fine. But if you overpay by thousands — especially beyond your card’s credit limit — your bank might flag it for review.

Large overpayments can sometimes be flagged as potential fraud, especially if the amount is unusual based on your transaction history. In such cases, the bank may:

• Temporarily freeze the account

• Request verification (e.g., source of funds)

• Delay processing until identity checks are done

If this happens, contact your card issuer immediately to clarify the situation.

Overpaying your credit card is easy to do — but it’s also easy to avoid with a few simple habits.

• Don’t double-pay. If you've already set up GIRO to automatically pay your bill, avoid making a separate manual payment. 

• Always check your current balance before making a payment. Don’t rely on old statements, email alerts, or your memory. Log into your card issuer’s app or online banking to verify your latest balance before paying.

• Use SMS or email alerts from your bank to stay on top of payment due dates, transaction updates, and when a bill has been paid. Most Singapore banks allow you to customise notifications to suit your needs.

• Track expected refunds. If you're anticipating a large refund — say, from a cancelled trip or a returned item — factor it into your upcoming payment. Making a full payment without accounting for refunds can easily result in an unintended overpayment.

Tip: Unless you plan to use the card right away, your money may be better off in a high-interest savings account than sitting as excess credit on your card. You’ll earn interest and retain access to your cash while keeping your card paid up.

» LEARN: How to manage credit card debt in Singapore