In an increasingly globalised world, where international travel and online shopping across borders are commonplace, the hidden costs of foreign currency transactions can quickly add up. Traditional bank cards often levy hefty foreign transaction fees and offer unfavourable exchange rates, leaving you out of pocket. Enter the multi-currency card – a true game-changer for Singaporean residents who frequently venture abroad, study overseas, live as expatriates, or simply enjoy purchasing from international online retailers.

These innovative cards allow you to hold, exchange, and spend in multiple currencies, often at much better rates than conventional methods. The goal of this guide is to provide you with a comprehensive, up-to-date, and actionable overview of the top multi-currency cards available in Singapore for 2025. By understanding their features, benefits, and potential drawbacks, you’ll be empowered to choose the perfect card to minimise costs and enjoy a seamless spending experience wherever you are.

What to Look for in a Multi-Currency Card

Before diving into the specifics of each card, it’s crucial to understand the key factors that differentiate them:

• Exchange Rates: This is arguably the most critical factor. Look for cards that offer near mid-market exchange rates – the real rate you see on Google. Many traditional banks apply a significant markup to this rate, which is essentially a hidden fee. Some FinTech cards, however, offer wholesale or interbank rates, which are very close to the mid-market rate.
• Fees: Be meticulous about checking for all potential charges:
  • Annual/Maintenance Fees: Are there recurring costs just for having the card?
  • Foreign Transaction Fees (FX Fees): While many advertise “zero FX fees,” verify if this applies to all transactions or if there are underlying charges from card networks.
  • ATM Withdrawal Fees (Overseas): What is the fee-free limit, and what are the charges thereafter? Also, beware of fees levied by the ATM operator itself.
  • Top-up Fees: Are there charges for loading money onto your card, especially if using a credit card?
  • Card Issuance/Delivery/Replacement Fees:
  • Number of Supported Currencies: How many currencies can you hold directly in the wallet? Can the card be used to spend in even more countries with automatic conversion?
• Ease of Use: A user-friendly mobile app with features like instant notifications, spending tracking, and easy top-ups is invaluable. Look for integration with mobile payment platforms like Apple Pay or Google Pay.
• Security: Features like the ability to instantly freeze/unfreeze your card in the app, virtual card options for online shopping, and strong anti-fraud measures are essential.
• Customer Support: How accessible and responsive is their customer service?
• Additional Benefits/Perks: Some cards offer cashback, travel insurance, budgeting tools, or even joint accounts.

The 6 Best Multi-Currency Cards in Singapore (Detailed Reviews)

Here’s a breakdown of the top multi-currency cards in Singapore, tailored for savvy travellers in 2025:

1. YouTrip

Issuer: YouTrip (in partnership with EZ-Link and Mastercard) Card Type: Prepaid Mastercard Key Features/Benefits:

• Zero Foreign Transaction Fees: YouTrip prides itself on offering wholesale exchange rates, meaning no hidden markups when you spend in any of its 150+ supported currencies. You can hold 10 major currencies directly in your wallet (SGD, USD, EUR, GBP, JPY, AUD, NZD, HKD, CHF, THB).
• Competitive Exchange Rates: Converts at near wholesale rates, often better than traditional banks.
• Free ATM Withdrawals: Enjoy up to S$400 in fee-free overseas ATM withdrawals per rolling month, with a 2% fee thereafter.
• User-Friendly App: Excellent app for instant top-ups (via PayNow, bank transfer, debit/credit card), spending tracking, and managing your card.
• Virtual Card: Generate a virtual card for secure online purchases.
• No Annual/Maintenance Fees: Free to sign up and use.Potential Drawbacks/Limitations:
• Cannot be used for local ATM withdrawals in Singapore.
• Limited to 10 currencies for holding, though spending is supported in over 150.
• Customer service is primarily in-app chat.Ideal User Profile: Frequent leisure travellers, online shoppers, and budget-conscious individuals who prioritise excellent exchange rates and low fees.

2. Revolut

Issuer: Revolut (FinTech company) Card Type: Debit Mastercard/Visa (depending on region/plan) Key Features/Benefits:

• Multi-Tiered Plans: Offers Standard (free), Premium, and Metal plans with varying benefits and limits. Standard offers free currency exchange up to S$5,000 per month at the Revolut exchange rate (which is competitive).
• Extensive Currency Support: Hold and exchange 40+ currencies, and spend in over 150 countries.
• Budgeting Tools: Advanced in-app analytics, budgeting, and spending categories.
• Free ATM Withdrawals: Standard plan offers up to S$350 or five free ATM withdrawals per rolling month (whichever comes first), with a 2% fee thereafter. Premium and Metal plans have higher limits.
• Virtual and Disposable Cards: Enhanced security for online transactions.
• Other Financial Services: Offers international money transfers, savings vaults, and sometimes crypto/stock trading (check local availability).Potential Drawbacks/Limitations:
• Weekend markups: A small markup (typically 0.5% – 1%) applies to exchange rates on weekends (GMT time).
• Fair usage limits: Free plan has limits on fee-free exchange and ATM withdrawals, requiring upgrades for higher limits.
• Top-up fees: Certain top-up methods, especially credit cards, may incur a small fee.Ideal User Profile: Digital natives, frequent travellers who appreciate advanced budgeting tools, and those who might benefit from premium features like travel insurance or higher limits by opting for a paid plan.

3. Wise (formerly TransferWise)

Issuer: Wise (FinTech company) Card Type: Debit Mastercard Key Features/Benefits:

• True Mid-Market Rates: Renowned for providing the real mid-market exchange rate with fully transparent, low conversion fees (from 0.43%), displayed upfront.
• Vast Currency Support: Hold and convert 40+ currencies, and spend in 160+ countries.
• Local Account Details: Get local bank details for up to 10 currencies (including GBP, EUR, USD, AUD, NZD, CAD) to receive money like a local.
• Free ATM Withdrawals: Two free withdrawals up to S350permonth,witha1.751.50 fee thereafter.
• Auto-Conversion: If you don’t hold the specific currency, Wise automatically converts from the cheapest available balance.
• Excellent for International Transfers: Ideal for sending and receiving money across borders with low fees.Potential Drawbacks/Limitations:
• One-time card issuance fee (approx. S$8.50).
• Cannot be used for local ATM withdrawals in Singapore.
• Fees for certain currency conversions, though transparent and competitive.Ideal User Profile: Expatriates, digital nomads, freelancers, international students, and anyone frequently sending or receiving international payments in addition to spending abroad.

4. DBS Multi-Currency Account (MCA) with Linked Debit Card

Issuer: DBS Bank (Singapore) Card Type: Debit Visa Key Features/Benefits:

• Bank-Backed Security: As a traditional bank, DBS offers a sense of robust security and a wide branch network.
• 12 Supported Currencies: Hold AUD, CAD, CNY, EUR, GBP, HKD, JPY, NZD, NOK, SEK, THB, USD.
• Lock in Rates: Ability to pre-convert and lock in exchange rates via the DBS Digibank app, which can be advantageous when rates are favourable.
• Integration with DBS Ecosystem: Seamlessly link with other DBS services, including the DBS Multiplier Account for potentially higher interest earnings on your SGD balance.
• No Minimum Balance (My Account): The DBS My Account has no minimum balance or fall-below fee, while the Multiplier Account has a S$3,000 minimum (waived for under 29).Potential Drawbacks/Limitations:
• Overseas ATM Withdrawal Fee: A flat S$7 fee applies per overseas ATM withdrawal, regardless of amount.
• Exchange Rate Markup: While competitive for a traditional bank, the exchange rates generally include a markup compared to FinTech providers, especially for unsupported currencies (up to 3.25% FX fee for these).
• No cashback or specific travel perks unless linked to other DBS products.Ideal User Profile: Existing DBS customers who prefer a single banking ecosystem, those who value the security of a traditional bank, and individuals who want to pre-convert and hold a limited number of major currencies.

5. UOB FX+ Debit Card

Issuer: UOB (United Overseas Bank) Card Type: Debit Visa Key Features/Benefits:

• Zero Administrative Fees on Overseas FX Transactions (from Feb 2025): This is a significant improvement, making it very competitive for direct spending in supported currencies.
• 11 Supported Currencies: Convert and hold AUD, CNH, EUR, GBP, HKD, JPY, NZD, SGD, CHF, THB, USD.
• Rate Alerts & Auto-Convert: Set your preferred exchange rate and receive notifications, or even auto-convert when the rate is met via the UOB TMRW app.
• Cashback on Overseas ATM Withdrawals: Enjoy S$5 cashback for the first four overseas ATM withdrawals in a calendar year, offsetting some fees.
• Travel Perks: Includes complimentary travel insurance (terms apply) and GrabTransport discounts in the region.
• Link to UOB One Account: Users can earn bonus interest with a minimum spend on the UOB FX+ Debit Card.Potential Drawbacks/Limitations:
• For unsupported currencies, transactions will be debited from your SGD account at UOB’s prevailing rate, potentially with markups (though admin fees are now waived).
• While some ATM fees are offset by cashback, there are still underlying charges.
• Relies on the UOB TMRW app for currency conversion and management.Ideal User Profile: Existing UOB customers, travellers who prefer a bank-issued card with good digital features, and those who can benefit from the linked UOB One Account perks.

6. Instarem Amaze Card

Issuer: Instarem (FinTech company) Card Type: Debit Mastercard (can also link existing Mastercards) Key Features/Benefits:

• No FX Fees on Linked Cards: Amaze’s unique selling point is its ability to link up to five Singapore-issued Mastercards. When you use your Amaze card for overseas transactions, it converts the foreign currency at Instarem’s competitive exchange rate and charges your linked Mastercard in SGD, effectively bypassing the linked card’s FX fees.
• Competitive Exchange Rates: Instarem offers competitive exchange rates for its conversions.
• InstaPoints Rewards: Earn InstaPoints on wallet spending (0.5 InstaPoint per S$1 spent) which can be converted to KrisFlyer miles. Note: As of March 2025, InstaPoints are no longer earned on linked card spend and cannot be converted to cash.
• Multi-Currency Wallet: You can also top up and spend from the Amaze Wallet, which supports 10 currencies (AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, THB, USD), allowing you to lock in rates.
• Centralised Spending Tracking: View all transactions from your linked cards in one place.Potential Drawbacks/Limitations:
• Changes to Rewards: As of March 2025, InstaPoints on linked card spend are discontinued, and points are only convertible to KrisFlyer miles, potentially reducing its attractiveness for some.
• SGD Spending Fee: There may be a 1% fee on SGD spending over S$1,000 a month (rumoured to apply from first dollar in 2025), making it less ideal for local use.
• ATM Fees: Overseas ATM withdrawals may incur fees depending on the linked card or from the Amaze wallet (S$5 + ATM operator fees).
• Wallet Top-Up Fees: A 2% fee may apply for topping up the Amaze wallet using a credit card (as of July 2023).Ideal User Profile: Individuals who want to leverage their existing Mastercard credit card rewards for overseas spending while avoiding FX fees, or those who appreciate locking in rates with the Amaze wallet for specific trips.

Tips for Maximising Your Multi-Currency Card

To truly get the most out of your multi-currency card and maximise your savings, consider these essential tips:

• Always Pay in Local Currency (Avoid DCC): When offered “Dynamic Currency Conversion” (DCC) at a point-of-sale terminal or ATM overseas, always choose to pay in the local currency of the country you’re in (e.g., EUR in France, USD in the US). DCC often involves unfavourable exchange rates and additional markups from the merchant’s bank.
• Monitor Exchange Rates: Keep an eye on currency trends. If you know you’ll be travelling soon, consider pre-loading currencies into your multi-currency wallet when the exchange rate is favourable.
• Be Mindful of ATM Fees: While many multi-currency cards offer fee-free withdrawals up to a certain limit, local ATM operators might still charge their own fees. Try to withdraw larger sums less frequently to minimise these charges.
• Utilise App Functionality: Make full use of your card’s mobile app for real-time spending notifications, budgeting features, and quickly freezing your card if it’s lost or stolen.
• Have a Backup Payment Method: While multi-currency cards are incredibly convenient, it’s always wise to have a backup, such as a traditional credit card (for emergencies) or some local cash, especially when travelling to less developed areas.

Conclusion

The landscape of multi-currency cards in Singapore is vibrant and competitive, offering fantastic opportunities for savvy travellers and online shoppers to significantly reduce their foreign transaction costs. Whether you prioritise the lowest exchange rates from FinTech innovators like YouTrip, Revolut, and Wise, or the familiarity and integrated banking services of DBS and UOB, there’s a card tailored to your needs. The Instarem Amaze card offers a unique way to leverage existing credit cards while avoiding FX fees.

By understanding the nuances of exchange rates, fees, and features, you can make an informed choice that aligns perfectly with your travel habits and financial preferences. Equip yourself with the right multi-currency card and embark on your next adventure with confidence and savings!

Useful External Links:

• For a deeper dive into understanding mid-market exchange rates and why they matter: Wise – What’s the mid-market exchange rate?
• To learn more about Dynamic Currency Conversion (DCC) and why you should avoid it: Stripe – What is dynamic currency conversion?