UOB: S$5 per withdrawal. For foreign charges converted by American Express, American Express applies a conversion factor of 1% to the converted amount. Related: Daily Withdrawal Limit of … For overseas cash withdrawals converted by Visa/Mastercard, a conversion factor of 1% is applied on the converted amount. As such, SoCash offers banks to use merchants as their virtual ATMs instead. For each withdrawal made by a customer, SoCash will charge the bank a transaction fee. POSB was founded in 1877 by the British government to provide banking services for lower-income citizens.. However, there are some banks that may also charge minimal fees even if you are going to use their own machines. ATMs of Bank of Central Asia (BCA, Indonesia) ATMs of HDFC (India) Bank of Philippines Island (Philippines) S$2.00: All other overseas ATMs; S$7.00: VISA Card: Westpac Group ATMs in Australia (Westpac, St. George Bank, Bank of Melbourne and BankSA) DBS Hong Kong; DBS India and DBS Indonesia ATMs; Free: ATMs of HDFC (India) S$2.00: All other overseas ATMs; S$7.00 Our prevailing administrative fee is up to 2.65% on the converted Singapore Dollar amount. (subject to compounding if the charges are not repaid in full) on the transaction amount, chargeable on a daily basis from the date of transaction until receipt of full payment (Minimum charge: S$2.50). “How much to open a POSB savings account” is a popular question you might have. Tap and SimplyGo on buses and trains without having to top-up. You will enjoy a preferential service charge of S$2 if you use Mastercard at the ATMs of Bank of Central Asia (BCA, Indonesia) and Bank of Philippines Island (Philippines) or Visa/Mastercard at the ATMs of HDFC (India). If your card transaction is converted to Singapore dollars via dynamic currency conversion (a service offered at certain overseas merchants or websites), you acknowledge that the process of conversion and the exchange rates applied will be determined by the relevant merchant or dynamic currency conversion service provider, as the case may be. All transactions in foreign currency (including refunds and reversals) are subject to a charge imposed by the respective Card Associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. Withdrawal fees are waived if you withdraw using Plus/Cirrus/UnionPay Card via Westpac Group ATMs in Australia and DBS Hong Kong, and Plus Card via DBS ATMs in India and Indonesia. Also he said if we received same suggestion from n number of customer. Withdrawal of foreign currencies: For withdrawal of foreign currency overseas charges, refer to Overseas Withdrawal Charges. This includes but is not limited to any transaction in Singapore Dollar on overseas-based websites and mobile applications. Cash Withdrawal, 2.Fast Cash, 3.Balance Inquiry. We may, at our sole discretion, debit from your Account, all applicable fees and charges, including but not limited to: Late payment charges will be levied if the minimum payment is not received by the payment due date: If minimum payment is not received by the payment due date, an additional interest rate of 3% p.a. Banking services at our self-service branches are available 24/7 (subject to mall/building operating hours). The reinstatement to such prevailing interest rate will be effective on the first working day after your next Statement date once minimum payment is made in full on or before your payment due date. The service charge of S$7 per cash withdrawal will be charged in the equivalent foreign currency. For DBS/POSB ATMs, the maximum amount per transaction is $2,000 and its default daily withdrawal limit is $3,000 (see table). The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation. DBS fees are waived on your cash withdrawal overseas. value. 2. you have immediately notified us of the loss, theft or unauthorised disclosure; you assist us in the recovery of the unauthorised charges incurred; you furnish us with a police report accompanied by written confirmation of the loss, theft or unauthorised disclosure and any other information that we may require; and. FreeCash earned can be used to offset your payment when making withdrawals. You will enjoy a preferential flat service fee of S$2 if you use your Cirrus ATM Card at the ATMs of Bank Danamon (Indonesia), Bank of Central Asia (BCA, Indonesia), HDFC (India) and Bank of Philippines Island (Philippines). DBS Bank Branches & ATMs You may locate the branches and their operation hours with the search function available below. 3% of the statement balance (or S$50, whichever is greater) plus any amount that is overdue and/or exceeds your credit limit. Visa/Mastercard transactions in US Dollar shall be converted to Singapore Dollar on the date of conversion. Amount withdrawn is subjected to foreign exchange rates. Edited: 9 years ago. S$5 service charge per withdrawal will be charged on non-UOB ATMs (Cirrus/Plus). This includes but is not limited to any card transaction in Singapore dollars on overseas-based websites and mobile applications. (From 1st July 2019, available withdrawal limit is 5 free ATM withdrawal at Non DBS atm for both metro and non-metro cities.) Use your DBS/POSB ATM/Debit/Credit Card(linked to a … Easy Access 50,000 ATMs through ALTO, BERSAMA and Visa/PLUS networks in Indonesia. Select “Saving account” Select the option to withdraw in the country’s local currency (e.g: MYR in Malaysia) to avoid DCC charges for currency conversion. Transactions in other foreign currencies will be converted to US Dollar before being converted to Singapore Dollar. *Excluding St.George ATMs operated by a third party, for example St.George ATMs located inside BP service stations. POSB charges a transfer fee plus an additional cut from the currency conversion and you’ll find that your international funds transfer will likely be routed through DBS Remit & Ott. Transactions in other foreign currencies will be converted to US Dollar before being converted to Singapore Dollar. If your transaction is converted to Singapore Dollar via dynamic currency conversion (a service offered at selected overseas merchants or websites), you acknowledge that the process of conversion and the exchange rates applied will be determined by the relevant merchant or dynamic currency conversion service provider, as the case may be. Withdrawal Denominations- S$10 and S$50 at all machines. avoid the Citibank ATMs with a foreign card, they do charge you an ATM operator fee (It will prompt you on the screen to accept this extra fee. Your bank charges withdrawal fee, not ATM. Card transactions in US dollars shall be converted to Singapore dollars on the date of conversion. Part of: Guides > Go Travel with POSB a non-refundable service fee for the maintenance of your Card and/or Account; administrative fee for production of documents/statements, an administrative fee for any replacement card or documents relating to your Card; cancellation fee for “no show reservation“, a charge for cancelling or failing to fulfil an airline or hotel reservation secured through your Card; service charge/administration fee, any action taken by us in carrying out any of your instructions and/or requests relating to your Card or Account, whether such service or action is referred to or contemplated in this Agreement or otherwise; and/or. I saw a fee on a DBS ATM once, but I think the bank does not charge it anymore as I do no longer get this prompt anymore, however the DBS ATM like to "offer" you the DBS Bank currency … Our prevailing administrative fee is up to 2.65% on the converted Singapore Dollar amount. There is a service charge of S$7 per cash withdrawal at overseas Visa/Mastercard ATMs. There's a charge of S$5 per cash withdrawal on overseas Cirrus ATMs. For example, your US Dollar cash withdrawal in New York will be charged US$5. You will enjoy a preferential service charge of S$2 if you use Mastercard at the ATMs of Bank of Central Asia (BCA, Indonesia) and Bank of Philippines Island (Philippines) or Visa/Mastercard at the ATMs of HDFC (India). Note that FreeCash earned will only be valid for 30 days and will expire if not redeemed. All card transactions in foreign currency (including refunds and reversals) are subject to a charge imposed by the respective card associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. The prevailing administrative fee is 2.25% of the foreign currency transaction amount for transactions involving VISA International and MasterCard International and 2% of the foreign currency transaction amount for transactions involving  American Express International, Inc. And before anyone says it, my bank and card does NOT charge any fees, withdrawal or conversion. You’ll then need to:⁵ Match your card association’s respective logos to the Overseas ATMs, for example: there is possible to change new updates. Overseas cash withdrawal fee waiver. charges or fees for the provision and/or use (authorised or unauthorised) of SMS Alerts service, including any liabilities to, and loss suffered by us as a result of the provision and/or use of SMS Alerts service. An administrative fee for services provided or actions taken by us in relation to such foreign currency transactions shall be payable by you and debited to your Card Account. For foreign currency transactions converted by UnionPay, a conversion factor of 0.6% is applied on the converted amount. If you have $5 in FreeCash, a cash withdrawal of $50 will require payment of $45 instead. DBS Bank Ltd is the Singaporean multinational bank headquartered in Marina Bay Singapore. All transactions converted via dynamic currency conversion (including refunds and reversals) will be subject to an administrative fee of 2.8% on the converted Singapore Dollar amount, which includes a 1% fee by Visa/Mastercard or 0.6% fee by UnionPay, and shall be shall be payable by you and debited from your Account. ATM partners. Terms & Conditions Governing Electronic Services, Determined by VISA International and MasterCard International, Currency conversion charge imposed by card associations, 3.25%, on top of the prevailing foreign exchange rate determined by Visa/MasterCard, Transaction performed in home currency, but merchant location is outside Singapore, determined by the relevant merchant or dynamic currency conversion service provider, 1% by Visa or MasterCard on the converted SGD amount. POSB Cash-Point. Inquiry with the bank that emitted your cards. For foreign charges converted by Visa/MasterCard, Visa/MasterCard applies a conversion factor of 1% to the converted amount. To help you compare the costs, we’ve separated the table into two key categories: 1. You can use the table above to see whether or not your bank has any ATM partners that you can enjoy free ATM withdrawals from. They were one of the earliest banks and many Singaporeans had a POSB bank account.. POSB was also associated with offering low-cost banking services to Singaporeans.. A step by step guide to using a bank machine to withdraw money. A withdrawal fee may be charged to your account if you will withdraw from other bank’s ATM. The woman had gone to a BM to take out $100,000 in cash on April 19 and another $100,000 two days later upon instruction from scammers. There is no minimum cash advance withdrawal amount; Maximum withdrawal amount from a DBS/POSB ATM is S$3,000 per day; A 8% transaction fee or S$15, whichever is greater, applies for each cash advance transaction The change to the ATM cash withdrawal fee when using an HSBC debit card is in accordance with customer’ requirement to have access to a wider network which will provide more convenience to customers. Re: Do Singapore ATMs charge a withdawl fee? 6. Make a purchase at our participating outlets*. Finance Charge: Prevailing interest rate of 26.80% p.a. (subject to compounding if the charges are not repaid in full) on the amount withdrawn, chargeable on a daily basis from the date of withdrawal until receipt of full payment (minimum charge of S$2.50). Withdraw up to S$5,000 with any purchase at our participating merchants islandwide*. Level Contributor . ATM Annual Fee: Of course, Banks do levy annual fees/charges for ATM cards usually ₹125 per annum. All conversions shall be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by the respective card associations, namely VISA International, MasterCard International & American Express International, Inc. However, foreign bank charges may apply except for Westpac Group ATMs in Australia, DBS Hong Kong, DBS India and DBS Indonesia. So, keep a minimum balance of $500 in your POSB savings account after the account is … 1) POSB was founded earlier. CRCF Commitment Fee CRE Creation Transfer CRPT Commitment Fee CSC CIRRUS Cash Withdrawal Service Charge CSH Cash CSL Consolidated Amount for Unposted Transactions CSTL Commitment Fee CTLF Commitment Fee CTU Cash Top Up CUS Singapore Customs CUT Call Centre Unit Trust Transaction Codes Description D2P D2Pay / eNETS transactions Read Also: Why I Stopped Withdrawing Money From The ATM This reduces their costs significantly. UnionPay transactions in US Dollar, Chinese Yuan and Brunei Dollar shall be converted to Singapore Dollar on the date of conversion. All transactions processed outside of Singapore but charged in Singapore Dollar (i.e. Click here for the list of fees in foreign currency. In addition, an administrative fee for services provided or actions taken by us in relation to such overseas cash withdrawals shall be payable by you and debited from your Account. These financial institutions are partnered together so customers can use any of their AT… Conversions shall be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by the respective Card Associations. 7 Best DBS Bank Debit Cards 2021 Updated on March 28, 2021 , 1862 views. You can change the transfer limit for POSB/DBS to a larger amount if you need to transfer a bigger sum of money to another account or decrease the limit to reduce the outflow of funds.. For example, these banks charge a fee when you make a withdrawal from non-affiliated ATM operators: DBS/POSB: S$7 per withdrawal for cards with the following payment brands: Cirrus, Maestro, Plus. For foreign currency transactions converted by UnionPay, a conversion factor of 0.6% is applied on the converted amount. Contact support and we'll try to resolve your issue quickly. Fees are waived if you withdraw from an overseas ATM using a UnionPay card. Transactions in foreign currency other than US Dollars will be converted into US dollars before being converted into Singapore dollars. Direct access to your Singapore Dollar account at DBS Indonesia and enjoy free conversion fee when you withdraw from DBS ATM/Post Office Savings Bank (POSB) in Singapore. Useful Links Damn sure! Please also note that additional charges may be applied by overseas banks, which will be typically displayed in ATMs before withdrawal. For example, the POSB eSavings Account has a fall-below fee of $2 per month if your account balance drops below $500. There is no minimum cash advance withdrawal amount Maximum withdrawal amount from a DBS/POSB ATM is S$3,000 per day A 8% transaction fee or S$15, whichever is greater, applies for each cash advance transaction 18 helpful votes. 1. we are satisfied that such loss, theft or unauthorised disclosure is not due to your negligence or default. Most of the accounts don’t require any minimum amount to open but you need to take note that some accounts do charge a fall-below fee.. UOB/OCBC/POSB/MayBank ATMs do not charge any operator fees as far as I have seen. will be added to the prevailing interest rate of your Card Account, and shall take effect from the day after your next Card Account Statement date. The following services will be available to POSB customers at ATMs:-1. Mac G. Minnesota. Monthly fee. Please take note: Withdrawal Fee: S$5 or equivalent; Daily withdrawal limit: S $5,000 For foreign currency transactions converted by Visa/Mastercard, a conversion factor of 1% is applied on the converted amount. Card transactions converted via dynamic currency conversion (including refunds and reversals) will be subject to an administrative fee of 1% by Visa or MasterCard respectively on the converted Singapore dollar amount, or such other rate as determined by us and notified to you. No finance charges will be levied if payment is received in full by the "Payment Due Date", and there is no balance carried forward from the previous statement. There will be a fee for withdrawals via all other overseas ATMs. Cardholder will not be eligible for such promotions upon approval when they re-apply for the credit card within 90 days from date of termination of the same card. Select POSB current accounts … Service charge for DBS UnionPay Platinum Debit Card, DBS Treasures Visa Debit Card, DBS Treasures Private Client Visa Debit Card and DBS Private Bank Visa Debit Card will be waived until further notice. Overseas Debit Card Transactions and Cash Withdrawal Transaction Fees shall not exceed 3.25%: There will be a fee for withdrawals via all other overseas ATMs. The bank is renowned in foreign countries as well as in India. If your Card is lost or stolen or if the PIN is disclosed without your authorisation, your liability for unauthorised transactions effected after such loss, theft or unauthorised disclosure but before we are notified thereof shall be limited to S$100 only if : You shall not be liable for any transactions carried out after we have been notified of the loss, theft or disclosure. without any currency conversion) (including refunds and reversals) will be subject to an administrative fee of 2.8% on the total transaction amount, which includes a 1% fee by Visa/Mastercard or 0.6% fee by UnionPay, and shall be payable by you and debited from your Account. There is no service fee for overseas purchases. There is a service charge of S$7 per cash withdrawal at overseas Visa/Mastercard ATMs. However, SoCash estimates that banks are paying around USD$200 million a year on ATM expenses! 35 reviews. 2. Fee: 8% of the amount withdrawn per transaction (minimum charge of S$15). Total administrative fees and fees for conversion factor shall not exceed 3.25%. Total administrative fee and fees for conversion factor shall not exceed 3.25%. Select the withdrawal account, and enter the currency and transfer amount ... and your bank passbook or ATM card for verification. Information is easy to understand and find, Information is useful to answer your inquiries completely, Transact & Withdraw in Foreign Currency Overseas, Terms and Conditions Governing Electronic Services, Westpac Group ATMs in Australia (Westpac, St. George Bank, Bank of Melbourne and BankSA), ATMs of Bank of Central Asia (BCA, Indonesia). Cash withdrawal will be free of charge if you use Visa/Mastercard at DBS Hong Kong, DBS Taiwan and Westpac Group ATMs in Australia (Westpac, St. George Bank, Bank of Melbourne and BankSA) or Visa Card at DBS India and DBS Indonesia ATMs. Report inappropriate content . For the 10 currencies stored in your YouTrip app: The maximum limit for transfer to another POSB/DBS account is S$25,000 and S$50,000 for … The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation. Where we allow your Card to be tagged to a Multi-Currency Account and used for any and/or all foreign currency funds in the Multi-Currency Account, foreign currency transactions and overseas cash withdrawals will be directly authorised from the respective foreign currency wallets within the Multi-Currency Account in the foreign currency directly, provided that there are sufficient funds in the relevant foreign currency. Key in your YouTrip app 4-digit login PIN as your ATM PIN. All card transactions processed outside Singapore but charged in Singapore dollar (i.e. ATM withdrawal fee $8.00 per transaction ATM balance enquiry fee $1.00 per transaction POS fee6 $1.00 per transaction Cross-border transaction fee 2.5% of the transacted amount in Fijian dollars 5 Fee is dependent on the Transaction or Savings account you … an administrative fee of S$150 if the Plan is terminated (whether arising from the termination of your Card Account or otherwise) or if you make a prepayment of any amount under the Plan. 3. The amount withdrawn is subject to a charge imposed by the respective Card Associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. A step by step guide to using a bank machine to withdraw money. Singapore Dollar transactions processed outside of Singapore. In addition, an administrative fee for services provided or actions taken by us in relation to such foreign currency transactions shall be payable by you and debited from your Account. Answer 31 of 36: Hi, I'm curious do ATMs in Singapore charge a withdrawal fee? Usually it is 3-5 USD per transaction ( any sum). Annual fee waiver and welcome gift (if any) are applicable to new principal cardholder only. Banks no longer need to maintain so many ATMs. Yes, there is a S$5 or equivalent withdrawal fee for each overseas ATM withdrawal. without any currency conversion) (including refunds and reversals) will be subject to an administrative fee of 1% by Visa or MasterCard, which shall be payable by you and debited from your Card account. 4K views Total administrative fee and fees for conversion factor shall not exceed 3.25%. DBS bank is the largest bank in Asia-Pacific by assets and among other larger banks in Asia. Tap and SimplyGo. 6,283 posts. For online/overseas foreign currency transactions fees, refer to Overseas Card Transaction Fees. Here are some fee types that you should be familiar with before choosing a POSB bank account: Fall-below fee. Withdrawal fees are waived if you withdraw using Plus/Cirrus/UnionPay Card via Westpac Group ATMs in Australia and DBS Hong Kong, and Plus Card via DBS ATMs in India and Indonesia. Overseas Withdrawal Charges. Finance Charge: Prevailing interest rate of 28% p.a. A fall-below fee is a type of fee incurred when your account’s daily or monthly balance drops below a stipulated level. Latest ATM Withdrawal Fees and Charges.