0% Foreign Fees Credit Cards

Compare credit cards with lower foreign fees and save money when you shop overseas.

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Credit cards with lower foreign transaction fees are designed to help you save money, by offering you reduced fees when you’re travelling overseas or shopping online with an international retailer. In comparison, most other credit cards charge a fee of 2–3% of each international transaction you make.

Use this guide to compare cards that charge lower foreign currency conversion fees. We also go through different travel money expenses and how you can minimise them so that you get the most out of your money when you’re overseas or shopping online.

Are there any cards that don't charge any foreign transaction fees in Singapore?

At the time of writing (March 2019), there’s no card in Singapore that doesn’t charge any foreign transaction fee. However, there is a handful of card issuers that waive off the admin fee, leaving only the payment network fee and the dynamic currency conversion fee (if applicable) payable.

HSBC Visa Platinum Card

HSBC Visa Platinum Card

Offer ends

HSBC Visa Platinum Card

  • Principal Annual Fee: S$0 annual fee for 2 years - S$192.60 thereafter.
  • Cashback Rate: 5%
  • Annual Interest Rate: 25.9%
  • Minimum Income (Singaporean & PR): S$30,000
  • Minimum Income (Non-Singaporean): S$40,000
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What you’ll find in this guide

How to compare low foreign transaction fee credit cards

A bunch of credit cards offer low foreign transaction fees, so what else should you compare when considering a credit card to use overseas?

  • Overseas ATM withdrawal fees. Getting cash out of an ATM overseas can also attract a fee worth at least $5 or between 2-4% of the total transaction. Choosing a card which doesn’t charge for international ATM withdrawals can allow you to avoid this charge.
  • Cash advance fees. Even if you get a credit card that offers $0 ATM fees overseas, using it to withdraw cash can attract a cash advance fee that’s typically between 2-4% of the transaction. You’ll also be charged interest at the cash advance interest rate, which is higher than the purchase rate on most credit cards.
  • Annual fees. Some credit cards with low foreign transaction fees may also come with $0 annual fee, but others may come with yearly fees of tens or hundreds of dollars. If it does have an annual fee, make sure that the perks you’ll get from the card outweigh this cost.
  • Purchase rates. If you’re using your card to make overseas purchases but won’t be paying back your balance in full each month, you’ll need to consider the purchase interest rate.
  • Other travel benefits. Some cards offer additional travel benefits, such as complimentary travel insurance, airport lounge access or bonus frequent flyer points for your spending. Make sure you meet any requirements listed to take advantage of these perks, otherwise they won’t add to the value of the card.

How much can I save with a lower foreign transaction fee card with bank admin fee waiver?

To give you an idea of the potential savings a credit card with foreign transaction admin fees waiver, let’s say you spend $5,000 while you’re travelling overseas. If you had a card that charged a 1% admin fee and 2% for other foreign transaction fees, you’d have to pay around $150 more for your spending. A card with no foreign transaction admin fees would only require you to pay around $100 extra on your expenditure. As well as saving you money on your spending, this would also cut down on interest charges and could help you pay off your balance faster.

How does foreign currency conversion work?

When you make a purchase or transaction in a foreign currency using a Singapore credit card, the total amount needs to be converted into Singapore Dollars. The conversion process varies based on factors including the card provider and whether it’s an American Express, Mastercard or Visa product. Currency conversion exchange rates are updated on a daily basis and apply even if you have a card that charges $0 foreign fees. Please note that most banks use an exchange rate that’s less competitive than the standard rate.

How will an exchange rate appear on my credit card statement?

Say you were on a trip to New York and used your Singapore credit card to pay for a pair of shoes worth US$100. If the exchange rate between US dollars and Singapore dollars was US$0.75 per S$1, then this transaction would be converted to S$132.18. So, instead of your credit card statement showing a transaction of US$100, it would show one of S$132.18.

What exchange rate will I receive?

Depending on the card you’re using, you will receive the exchange rate set by Mastercard, Visa or American Express. The following diagram explains how Singapore credit cards convert currency with American Express, Mastercard, Visa or UnionPay:

Mastercard, Visa and American Express will convert the foreign currency amount to USD before converting it to S$ (unless your transaction is already in USD). Both of these conversions will transfer at the daily exchange rate.

UnionPay will convert your foreign currency amount directly to S$ at the daily exchange rate.

  • Mastercard, Visa and American Express. All transactions made in a currency other than United States Dollars (USD) will be converted to USD before it is converted to S$.
  • UnionPay. Transactions made in the following currencies will be converted directly to Singapore Dollars (S$):
    • United States Dollars (USD)
    • Chinese Yuan (CNY)
    • Brunei Dollar (BND)

For transactions made in any other foreign currencies, UnionPay will convert the currency to USD before it is converted to S$. As a result, if the Singapore Dollar is not favourable against the United States Dollar, using a UnionPay credit card for any of the listed currencies could be the most cost-effective option.

Mastercard and Visa both have their own currency conversion calculators, but you can also compare exchange rates from popular transfer providers on Finder.

What is Dynamic Currency Conversion?

When you shop overseas with a Singapore-issued card, you may be asked if you’d like to spend in the local currency or Singapore dollars. This refers to Dynamic Currency Conversion (DCC) and opting to pay with Singapore dollars will subject your purchase to extremely poor exchange rates from the DCC and additional bank charge from your credit charge issuer. If you’re spending with a card with 0% on foreign transaction fees, you should always opt to pay in the local currency rather than in Singapore dollars. Want to know more about DCC? You can see finder’s guide to Dynamic Currency Conversion for more information.


What other travel money options are available?

It’s often useful to have several ways to access money when you’re overseas. As well as a credit card, you may want to consider some of these other travel money products:

  • Foreign cash. Having cash on hand when you’re travelling overseas can come in handy if you’re spending somewhere that doesn’t accept card (such as transport tickets, taxis or at markets). Using cash is also another easy way to avoid foreign transaction fees. You can check out finder’s guide to buying foreign currency to get started.
  • Debit card. Your everyday Mastercard or Visa debit card can also be used overseas, wherever these brands are accepted. Just keep in mind that currency conversion fees may also apply for a debit card and be aware of the potential complications if your account’s security is compromised while you’re away. You can also compare debit cards with low foreign transaction fees on Finder.
  • Prepaid cards. You can also use a prepaid card load and spend funds in multiple supported currencies. When you move currency from Singapore dollars to a supported foreign currency, it’s also locked in at the current exchange rate (which could help you avoid fluctuating rates and manage your budget better while you’re travelling). When you spend in a supported foreign currency, you can avoid currency conversion fees with these cards.

If you’re a frequent traveller or regularly shop online with international retailers, a credit card that has reduced foreign transaction fees could help you keep your costs to a minimum. Just remember to compare a range of options and look at the other features available so that you can find a credit card that suits your needs.

Compare credit cards

Name Product Balance Transfer Rate Reward Annual Fee Min Income - Singaporean and PR Contactless Payments
2.50%-4.88%
Up to 5X Rewards points (2 miles per S$1 spent) on online, dining and entertainment purchases
S$0 annual fee for 2 years - S$160.50 thereafter
S$30,000
payWave
Apple Pay
Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2019.
0% per p.a.
Up to S$60 cashback monthly with no minimum spend
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
PayWave
Google Pay
Apple Pay
Samsung Pay
EZ-Link
Get S$80 cashback with activation of card within 30 day upon approval. Existing cardholders will receive S$20. Ends 31 Dec 2019.
New customers: 0% for 6 months Existing customers: 0% for 6-12 months
2 Citi Miles for every S$1 spent overseas, 1.2 Citi Miles per S$1 spent locally with no minimum spend and 1.5 Citi Miles per S$1 spent locally with minimum spend of S$3,000 per statement month.
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
EZ-Link
Receive 40,000 miles when you spend S$9,000 in the first 3 months and pay the annual fee. Ends 31 January 2020.
2.50%-4.88%
Up to 5% cash rebate on groceries, fuel and dining
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
payWave
Apple Pay
Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2019.
0% per p.a.
1.5% cashback on all spend with no cap and no minimum spend
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
Google Pay
Apple Pay
Samsung Pay
Get S$80 cashback with activation of card within 30 days upon approval. Existing cardholders will receive S$20. Ends 31 Dec 2019.
New customers: 0% for 6 months Existing customers: 0% for 6-12 months
10X Rewards on your shopping spend (local and overseas) and online purchases (except mobile wallet and travel-related transactions), plus 1X Rewards Points on all other spend, no cap or minimum spend required
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Google Pay
Apple Pay
Samsung Pay
EZ-Link
Receive 30,000 Citi Thank You points when you spend S$3,000 in the first 3 months. Ends 31 January 2020.
2.50%-4.88%
Up to 3.5% cashback on all purchases with no minimum spend
S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter
S$30,000
payWave
Apple Pay
Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2019.
0% per p.a.
Up to 10X rewards points for every S$1 spent in foreign currency
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
PayWave
Google Pay
Apple Pay
Samsung Pay
EZ-Link
Get S$80 cashback with activation of the card within 30 days upon approval. Existing cardholders will receive S$20. Ends 31 Dec 2019.
New customers: 0% for 6 months Existing customers: 0% for 6-12 months
Earn up to 8% cash back on dining, groceries and petrol worldwide.
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Google Pay
Apple Pay
Samsung Pay
EZ-Link
Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019
New customers: 0% for 6 months Existing customers: 0% for 6-12 months
Earn 5 ThankYou Points (2 Miles) per S$1 overseas spend and 3.25 ThankYou Points per S$1 local spend
S$535 annual fee
S$120,000
Google Pay
Apple Pay
Samsung Pay
EZ-Link
Receive a welcome gift of 62,500 Citi ThankYou Points (25,000 Miles). Ends 31 December 2019.
New customers: 0% for 6 months Existing customers: 0% for 6-12 months
Up to 5% savings on groceries, fast food, movies, and coffee.
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
PayWave
Google Pay
Apple Pay
Samsung Pay
EZ-Link
Receive a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.
N/A
1.5% cashback on all purchases with no minimum spend and no cap
S$0 annual fee for 1 year - S$171.20 thereafter
S$30,000
Google Pay
Apple Pay
Samsung Pay
Amex Pay
Receive 3% Cashback bonus and up to S$150 Cashback when you spend S$5,000 in the first six months.
N/A
Get up to 1.1 KrisFlyer miles for every S$1 spent
S$0 annual fee for 1 year - S$176.55 thereafter
S$30,000
Google Pay
Apple Pay
Samsung Pay
Amex Pay
Earn 7,500 bonus KrisFlyer miles when you spend S$5,000 within three months of card approval. Ends 31 January 2020.
N/A
Earn 3X STAR$ when you shop at participating CapitaLand malls
S$0 annual fee for 1 year - S$171.20 thereafter
S$30,000
Google Pay
Apple Pay
Samsung Pay
Add supplementary cardholders and get S$20 worth of CapitaVouchers for each approved member (up to two cardholders). Ends 31 January 2020.
N/A
Get up to 1.2 KrisFlyer miles for every S$1 spent
S$337.05 annual fee
S$50,000
Google Pay
Apple Pay
Samsung Pay
Earn 15,000 bonus KrisFlyer miles when you spend S$10,000 within three months of card approval. Ends 31 January 2020.
N/A
Up to 50% off your food bill for unlimited visits at hotels around Singapore
S$321 annual fee
S$50,000
Google Pay
Apple Pay
Samsung Pay
Amex Pay
Receive a 1-night stay at Swissotel The Stamford Singapore (worth S$529) when you pay the annual fee upon card approval and spend S$4,500 in the first 3 months. T&Cs apply. Ends 31 January 2020.
0% for 6 months
Earn 1 TREATS Points per dollar spent
S$0 annual fee for 2 years - S$180 thereafter
N/A
Samsung Pay
Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.
0% for 6 months
Earn 1% cash rebate on all spend
S$0 annual fee
N/A
PayWave
Samsung Pay
Get an Adidas wristwatch worth S$120 when you use your card in the first month. Offer limited to the first 500 successful applicants.
0% for 6 months
Up to 3.33% cash rebates on local spend
S$0 annual fee
S$30,000
PayWave
Samsung Pay
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
0% for 6 months
8% cash rebates on groceries, dining, transport and selected merchants with S$800 min. monthly spend
S$0 annual fee for 3 years - S$180 thereafter
S$30,000
Samsung Pay
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
0% for 6 months
Receive a 10% discount and 10 TREATS Points for every S$1 spent at United Direct Online Megastore
S$0 annual fee for 2 years - S$80 thereafter
S$30,000
Samsung Pay
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
0% for 6 months
5% cash rebate on petrol in Singapore and Malaysia
S$0 annual fee for 3 years - S$120 thereafter
S$30,000
Samsung Pay
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
0% for 6 months
1.6% unlimited cash rebate on all local spend
S$120 annual fee
S$30,000
Samsung Pay
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
0% for 6 months
Earn up to 5X TREATS Points (2 air miles) on all spend
S$0 annual fee for 1 year - S$600 thereafter
S$150,000
PayWave
Samsung Pay
Get up to 8 complimentary single-trip airport limousine transfers. T&Cs apply. Ends 31 Dec 2019.
0% for 6 months
Up to 3.2 Air Miles (8X TREATS Points) for every S$1 spent on dining, transport and hotel bookings via Agoda.com/horizon
S$0 annual fee for 3 years - S$180 thereafter
S$30,000
Samsung Pay
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
0% for 6 months
10X TREATS Points (4 air miles) on every S$1 spent
S$0 annual fee for 1 year - S$240 thereafter
S$80,000
Samsung Pay
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.

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