Comparing Multi-Currency Cards: YouTrip, Revolut, DBS MCA, UOB Mighty FX & Others

Preparing for an overseas holiday usually involves a trip to the money changer at Mustafa or Change Alley in hopes of getting the best exchange rates, and then fearfully rushing home before someone robs you of those big wads of cash.

Now, thanks to multi-currency cards, that is a thing of the past. Just exchange currencies from the comfort of your home, and then use your card to pay or withdraw cash when you’re overseas.

Are these services too good to be true? Should you use them? And before you do, what do you need to know?

Best multi-currency cards in Singapore

Interest rates, if any

0.05% on SGD


0.03% on first 250,000 USD


0.05% on remaining USD balance >1 m USD


HSBC Everyday Global Account
0.05% on SGD with the chance to earn promotional bonus interest

UOB MightyFX
0.02% on USD, AUD, NZD and Renminbi

Citibank Global Foreign Currency Account


YouTrip by EZ-Link

SGD, USD, EUR, GBP, JPY, HKD, AUD, NZD, CHF SEK, among more than 150 currencies for in-app exchange


AED, AUD, BGN, CAD, CHF, CZK, GBP, HKD, HRK, ILS, ISK, JPY, MAD, MXN, NOK, NZD, PLN, QAR, RON, RSD, RUB, SAR, SEK, SGD, THB, TRY, USD, ZAR, among more than 150 currencies for in-app exchange


SGD, AUD, CAD, EUR, HKD, JPY, NZD, CHF, GBP, USD, CHF, SEK among more than 150 currencies for in-app exchange

Instarem Amaze Card


DBS Multi-Currency Account

The DBS Multi-Currency Account (MCA) lets you stash cash in up to 12 foreign currencies as well as the Singapore dollar.

There are a few types of DBS MCA, but the most popular one is the Multiplier account as it allows you to save SGD for your personal savings and gives you bonus interest for crediting salary and spending with a DBS credit card.

The basic account is free and there is no initial deposit, however, fall below fees ($7.50 a month, waived till you’re 29 years old) apply if your balance dips under 3,000 SGD.

If you have the Multiplier already, you can easily use the “Transfer Funds to My Account” function to convert currencies. For other types of MCA, you transfer money in SGD to the account, exchange currencies and then leave the money in the account for future use.

They don’t charge forex conversion fees, which means their exchange rates are quite competitive compared to what money changers can offer. That said, the best money changers such as Mustafa are usually able to offer slightly better rates. However, their rates can still be higher than services like YouTrip, TransferWise and Revolut.

You can link the account directly to a DBS debit card, which means that when you’re overseas you can use the card to pay. This lets you skip a trip to the money changer—instead, you can exchange currencies when the exchange rate is favourable and then spend the cash on the card. With the MCA (as opposed to a regular DBS account), you won’t be charged any foreign exchange and debit card fees.

The card can also be used to withdraw cash at ATM machines. However, the catch is that the card is only free to use overseas at certain ATMs: Westpac Group ATMs in Australia and DBS Hong Kong for Plus/Cirrus cards, and DBS ATMS in India and Indonesia for Plus Cards. All other overseas withdrawals will be charged 7 SGD.

How to apply for DBS MCA?

You can apply for the Multi-Currency Account by downloading the DBS digibank app and registering for an account with your Singpass.

Pros of DBS MCA

12 foreign currencies
No foreign exchange fees or debit card fees
ATM cards can be used overseas
Free ATM withdrawal at Westpac Group ATMs in Australia (Plus/Cirrus Card only) and DBS ATMs in Hong Kong (Plus/Cirrus Card only), India and Indonesia.
No account fees

Cons of DBS MCA

$7 per ATM withdrawal


HSBC Everyday Global Debit Card (linked to Everyday Global Account)

HSBC Everyday Global Account works like a regular multi-currency savings account, letting you stash your personal savings in SGD and then convert them to other currencies.

To exchange currencies, you can download the HSBC QuickFX app where you can get real-time currency exchange rates and make currency exchanges when the rates are in your favour.

With the HSBC Everyday Global Account, you will be issued the Everyday Global Debit Card, which you can use to pay overseas in 10 currencies and withdraw cash at HSBC ATMs worldwide for free (except in certain countries including France, Greece, New Zealand and Turkey). Otherwise, you’ll have to pay a 1.5% fee for foreign ATM withdrawals.

On the bright side for high rollers, you can withdraw up to 10,000 SGD from ATM machines worldwide, provided you dare to walk around with that much cash on you.

You also have the opportunity to earn 1% cashback on eligible spending and 1% bonus interest on incremental daily balances if you jump through a few hoops, such as by depositing at least 2,000 SGD each month and performing 5 eligible transactions per month, such as using your Everyday Global Debit Card, making GIRO bill payments and so on.

How to apply for the HSBC Everyday Global Debit Card

You can apply online by downloading the HSBC Singapore app on Google Play or Apple App Store and completing the registration process.

Pros of the HSBC Everyday Global Debit Card

Exchange and store 10 foreign currencies
Account and card are free with no fees and charges
No fees at HSBC ATMs
High ATM withdrawal limit of 10,000 SGD
Possibility to earn bonus interest if you satisfy requirements

Cons of the HSBC Everyday Global Debit Card

1.5% fee for non-HSBC ATM withdrawals


UOB MightyFX

UOB MightyFX is a multi-currency account that can be linked to one of the following UOB accounts – One Account, iAccount, Wealth Premium Account, Privilege Account or KrisFlyer UOB Account.

You can transfer money from one of the above accounts to MightyFX and convert it to the currency of your choice. Their exchange rates are quite competitive compared to the average money changer.

When you are overseas, you can then spend using the debit card which will be issued to you, thereby avoiding ATM fees. You can choose to either spend your foreign currency savings or deduct savings from your SGD account and convert them on the spot.

However, if you do need to withdraw cash, you will be charged 5 SGD per withdrawal.

There are no required minimum deposits or fall below fees for MightyFX (although the SGD account linked to MightyFX might charge its own fees). There is, however, an annual fee of $18 which is waived for the first three years, and subsequently, if you make at least 12 Mastercard transactions per year.

How to apply for UOB MightyFX

Sign up online with your SingPass.

If you are an existing UOB customer, you can also sign up through Internet banking.

Pros of UOB MightyFX

11 foreign currencies
No foreign exchange fees or debit card fees
ATM card can be used overseas

Cons of UOB MightyFX

Overseas ATM fee of 5 SGD per withdrawal
Annual fee of $18 after 3 years if 12 Mastercard transactions not made per year


Citibank Debit Mastercard (linked to Citibank Global Foreign Currency Account)

To transfer money and pay in a foreign currency, you will have to have a local and foreign currency account with Citibank. First you transfer money from your SGD account to the foreign currency one (eg. their Global Foreign Currency Account), converting the currency in the process. You then link the currency of your choice to your Citibank Debit Mastercard.

The Citibank Debit Mastercard lets you withdraw cash at any Citibank ATM overseas without having to pay ATM fees or additional conversion fees. You’ll also enjoy better exchange rates than if you were to use a regular ATM card.

The main benefit of this card compared with most of the multi-currency accounts on this list is that you can withdraw cash for free if you do not want to or are unable to pay by card, provided you can find a Citibank ATM. However, if you withdraw cash from a non-Citibank ATM, you’ll have to pay a 2.5% administrative fee as well as any fees charged by the foreign bank.

However, note that you cannot link this card with another credit or debit card. So, you need to make sure there’s enough money in your multi-currency wallet, otherwise your payment will be declined.

The daily transaction of 2,000 SGD per day means high rollers are less likely to be inconvenienced by this card, although if you’re buying a Rolex watch or something, you’ll need to use a different card.

How to apply for the Citibank Debit Mastercard?

You can apply online here.

Pros of the Citibank Debit Mastercard

Exchange and store 14 foreign currencies
Account and card are free with no fees and charges
No fees at Citibank ATMs
High transaction limit of 2,000 SGD per day

Cons of the Citibank Debit Mastercard

2.5% fee for non-Citibank ATM withdrawals


YouTrip card by EZ-Link

No, you’re not dreaming. EZ-Link, the card you use to pay for the privilege of using the MRT, is behind the multi-currency mobile wallet that lets you make payments overseas, aka YouTrip.

How does YouTrip work? You top it up with money, exchange currencies in the process, and then spend using the card when you’re overseas.

The card lets you convert and make payments without transaction fees in over 150 currencies. The exchange rates offered are Mastercard wholesale rates. This means that the rates are closer to what is published on Google and better than most banks’ over-the-counter exchange rates.

Using their mobile app, you can also check rates and exchange 10 foreign currencies on the go, which is convenient if you’re hoping to catch the best rates.

This is a good card to use if you’re visiting a country whose currency is not accepted by any of the other accounts and cards, such as Vietnamese Dong or Icelandic króna. Be aware, however, you will be charged a $5 fee plus any foreign bank fees for using it to withdraw cash at an ATM.

How to apply for a YouTrip card?

Download the YouTrip app via App Store or Google Play to complete the registration process.

Pros of the YouTrip card

Pay in 150+ currencies
-0 foreign currencies supported by in-app exchange
ATM card can be used overseas
No account fees
Lets you pay using your credit/debit card

Cons of the YouTrip card

$7 per ATM withdrawal


Revolut card

Revolut is now one of the most popular multi-currency cards used by travellers worldwide. You can use the service to remit money overseas at low fees and pay with the Revolut card overseas. Revolut uses mid-market fees for conversion, which are lower than banks’ and more current than physical money changers.

The card allows you to spend in over 150 currencies and within the app using a linked credit/debit card, enabling you to take advantage of any cashback, rewards, and miles that your card qualifies you for.

In addition, you can also convert more than 30 currencies to store. There is also a “Vaults” feature that you can use to save money. For travellers who want to monitor the movements of a particular foreign currency, Revolut also allows you to set up “Watchlists”.

Revolut comes in 3 different membership tiers, Standard, Premium and Metal. For regular travellers, the Standard membership should be sufficient. If you would like to get LoungeKey Pass access and disposable virtual cards, you can go for the paid memberships.

Disposable virtual cards each come with a 16-digit VISA card number that can be used for online transactions. As they’re disposable, you protect yourself against fraud.

Each month, you can withdraw up to 350 SGD and make a maximum of 5 withdrawals using the card with no fee imposed by Revolut. Individual foreign ATM terminals may charge their own fees, but this applies to all other cards, even those that charge for withdrawals. Do an online search to find out which ones are free at your destination.

If you bust the withdrawal limit, you’ll have to pay 2% of your withdrawal sum or 1.49 SGD, whichever is higher.

Revolut has been granted a remittance licence by MAS. It’s also one of the first banking apps of this kind to offer cryptocurrencies, so you can dabble in that if you so desire, but don’t blame us if you lose your holiday money!

How to apply for the Revolut card?

Download the Revolut app via App Store or Google Play to complete registration process.

Pros of the Revolut card

Pay in 150+ currencies
30+ foreign currencies supported by in-app exchange
ATM card can be used overseas for free
No account fees
Lets you pay using your credit/debit card

Cons of the Revolut card

Withdrawal limit of 350 SGD or 5 withdrawals per month, otherwise must pay 2% or $1.49, whichever is higher.

Wise’s borderless debit card

Wise (previously known as TransferWise) is quite like Revolut in that it offers both money remittance services as well as currency exchange.

You can apply for Wise’s borderless debit card supported by Mastercard to spend worldwide. You don’t need to top up any balance to apply for the card.

You can store 53 currencies within TransferWise’s app by setting up different balances. The service is seamless and easy to use, and their promise is that what you see is what you get. The currency exchange rate and fees are displayed upfront so you can see how much you are getting when you are converting or remitting money.

Although Wise has fewer features than Revolut, it’s easy to understand. This makes it appealing to the minimalist traveller who just wants to get lower conversion rates and nothing else. Sending money abroad can also be done at a much lower cost. Wise uses mid-market rates, which means less markup for consumers.

You can withdraw up to 350 SGD per month using the card, bearing in mind that each foreign bank may impose its own fees. Search online to find out which banks offer don’t charge for withdrawals at your destination.

Once you bust the 350 SGD ceiling, you’ll be charged 1.50 SGD per withdrawal, as well as 1.75% on any amount withdrawn above 350 SGD.

Wise is licensed by MAS as a major payment institution if that makes you feel better.

How to apply for Wise’s borderless debit card?

Sign up for an account on the Wise website.

Pros of Wise’s borderless debit card

Exchange and store 53 foreign currencies
ATM card can be used overseas for free
No account fees
Lets you pay using your credit/debit card

Cons of Wise’s borderless debit card

Withdrawal limit of S$350 per month, otherwise must pay S$1.50 per withdrawal and 1.75% on any amount withdrawn above S$350.


Instarem’s Amaze Card

Instarem started out as a company that only offered online remittance but now, they have followed in Revolut and Wise’s footsteps by offering the Amaze card.

When you pay overseas using this card, Amaze will automatically convert the money using VISA wholesale market rates and then charge it to your linked credit or debit card. This means no foreign transaction fees and better rates.

You also have the option of topping up the card with SGD and then exchanging and storing currencies until you wish to spend them. You can store up to nine different types of currencies in the multi-currency wallet, with a maximum top-up value of 3,000 SGD.

The good thing about linking your credit card is that you don’t have to miss out on the cashback, rewards, and air miles from your credit cards’ programmes.

You also get to earn InstaPoints on the Amaze card at a rate of 1 InstaPoint per 1 SGD spent in foreign currency, which you can then exchange for cashback at the rate of 2,000 InstaPoints for 20 SGD cashback.

Compared to its competitors Revolut and Wise, the Amaze card offers a much higher withdrawal limit of 1,000 SGD per day. So, if you travel to places that don’t accept payment by card, this can be useful.

The catch? Instarem charges a fee worth 2% of the amount withdrawn, on top of any fees charged by the foreign bank.

How to apply for Instarem’s Amaze Card?

Sign up for an account on the Instarem website.

Pros of Instarem’s Amaze Card

Exchange and store 9 foreign currencies
ATM card can be used overseas with high withdrawal limit of 1,000 SGD per day
No account fees
Earn InstaPoints as you spend
Lets you pay using your credit/debit card

Cons of Instarem’s Amaze Card

ATM withdrawal fee of 2%


Note: Paying by credit card is not always an option in certain countries

While many of the countries that Singaporeans are fond of visiting are advanced in cashless payments, there are some countries that rely heavily on cash, such as Laos and Myanmar. Even developed countries like Japan can have a preference for cash. In addition, some countries such as Indonesia also have issues with credit card fraud, so you might want to think twice about using your credit card for everything.

You’re also more often than not expected to pay in cash at certain types of businesses, such as market and street food stalls. If you have a debit card that allows you to withdraw money with no fees at overseas ATMs, make sure the country that you’re going has an extensive ATM network.

So, basically, always do research on how acceptable payment by credit or debit card is at your destination, and plan to bring along an appropriate amount of cash.


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