SINGAPORE - Some holders of DBS' Visa Debit Card will now be able to spend overseas in the country's local currency while avoiding high foreign exchange and conversion fees. With the new service - which the bank said is the first of its kind in Southeast Asia - a DBS Visa Debit Card holder can pre-purchase currency of his of her travel destination. That amount can then be spent overseas through the debit card.

The savings are mainly enjoyed by those who prefer to spend Singapore dollar in overseas transactions or on overseas websites, which typically incur an additional 7 to 15 per cent fee charged by the dynamic currency conversion process, DBS said when unveiling the service on Wednesday Jan In , around 10 per cent of payments by DBS Visa Debit cardholders were overseas transactions made in Singapore dollars. Customers who choose to pay in the country's local currency get to avoid any additional charges such as FX fees and any other conversion charges.

The DBS MCA was launched in , and there are currently over , account holders. For users to enjoy the new DBS Visa Debit Card service, a MCA must be linked to the card as a primary account. More Deals on Qoo We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused.

DBS : Save on foreign exchange rates, conversion fees with DBS overseas payments solution for travellers & ecommerce shoppers – Southeast Asia’s first | 4-Traders

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