Looking for a debit card in Singapore? Here are your best options
After the pandemic, Singaporeans have come a long way from heavily relying on cash to settle any type of purchase, to preferring cashless payment options like debit cards.
If you don’t have a debit card yet, you’re definitely missing out. Having one can help you unlock tons of online and in-store purchases, as well as special features to help you maximise your money.
If you are curious about the best debit card in Singapore, this guide is for you. Here, you’ll learn all about the ultimate debit cards you can use, as well as their perks.
Here at OMY Singapore, you will discover the following:
What Is A Debit Card?
The best debit card in Singapore gives you a way to spend money directly from your checking account. Unlike credit cards, you have no bill to pay later when you use this card. Debit cards are not only useful for buying products and services, but also for withdrawing cash from ATMs. Learning how to get a debit card in Singapore is so easy and you can do it entirely online.
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Credit card vs Debit card in Singapore
While credit cards and debit cards are both widely accepted in Singapore, there are key differences between the two. Credit cards allow you to borrow money from the bank and pay it back later, whereas debit cards allow you to spend money that you already have in your checking account.
If you’re looking for a budget-friendly payment option, a debit card is the way to go. With no interest charges or fees for late payments, you can avoid getting into debt and save money. Plus, you’ll have the added security of being able to monitor your spending in real-time.
The Best Debit Cards in Singapore in 2023
Take a look at some of the best options for debit cards in Singapore.
Standard Chartered XtraSaver
If you want a debit card that will help you maximise savings and rewards, look no further. The Standard Chartered XtraSaver is perfect for you. This interest-bearing card allows you to earn cashback on select purchases.
For instance, you can earn up to 15% cashback on petrol on top of the prevailing station discounts that you can enjoy. You can also get up to 3% cashback on your MasterCard transactions anywhere in the world.
This best debit card in Singapore does not have any minimum initial deposit. However, you will be charged S$5 per month if your average daily balance for the month falls below S$3,000 from the second month after you open your account. This card also has a S$2 monthly charge, as well as a S$20 debit card annual fee.
Application for this card only takes 10 minutes and you can do it entirely online. You can also enjoy a higher interest rate when you spend, save, credit your salary, and pay your bills with the app.
Want to know more about Standard Chartered Debit Card Singapore? Click here.
Citibank Debit Card
The Citibank Debit Mastercard is designed to bring you convenience both in Singapore and around the globe. Whether you need a card for bill payments for your daily purchases or cash withdrawals, this is an incredible option.
One of the advantages of this best debit card in Singapore is its multi-currency feature where you can access up to 15 various foreign currencies. This is a helpful advantage if you’re always overseas or you love international online shopping. You can also gain access to exclusive privileges such as social events, as well as discounts on car rentals and hotels.
Additionally, you can get exclusive and automatic cashback from participating overseas merchants with a wide range of cashback.
Curious about the CitiBank Debit Card Singapore? Check out this page.
HSBC Premier Debit Card
This best debit card in Singapore is enhanced with Visa payWave, NETS contactless models of payment, and Apple Pay. This way, you can use it as a public transport card, for restaurants, other establishments, and online shops. With every transaction, all you need to do is tap the card. No signature is required every time you use the HSBC Premier Debit Card Singapore for purchases.
With this card, you may also get cash from over 800 locations in Singapore such as Cold Storage, HSBC ATMs, atm5 Network, 7-Eleven, and many more. You may also withdraw cash in over 2.3 million Visa/Plus ATMs around the world with a S$0 fee on overseas cash withdrawal on HSBC ATMs.
If you love booking hotels on Agoda, this card will let you enjoy a 5% discount on the platform. You can also enjoy 8% off on hotels.com bookings. Simply enter the code “VISA8” to enjoy this perk.
Keep in mind that this card has a S$25,000 limit for big-ticket purchases.
Head over to this page if you want to apply for the HSBC Premier Debit Card.
Paypal Debit Card
If you’re looking for a student debit card in Singapore, this is a great choice because it has no monthly fee or credit check. It works like a prepaid debit card in Singapore.
The PayPal debit card Singapore lets you spend your PayPal balance wherever MasterCard is accepted. This card is also great for those who want to save since it lets you earn cashback on eligible purchases. With this card, you can check out securely in-person and in online stores with a swipe or tap. You can also withdraw cash worldwide, with no fees at over 37,000 ATMs.
Although withdrawal is free at MoneyPass ATMs and there are no US transaction fees, you need to account for the 2.5% foreign transaction fee and $2.50 fee for withdrawals at non-MoneyPass ATMs.
Bank of China Debit Card
Double currency cards are extremely helpful if you love travelling or transacting in different countries. With the Bank of China Singapore Debit Card, you can store SGD and RMB for easy access whenever, wherever. This card offers no currency exchange fees for all RMB transactions in your RMB account, plus you can also enjoy convenience through UnionPay, the largest payment network in China.
If your RMB balance is not enough for a transaction, the remaining amount will be deducted from your SGD account based on the real-time exchange rate.
Not only that but this best debit card in Singapore also lets you have a 0.3% cash rebate for all your local and international transactions. You can also save because there’s no annual fee forever.
Click here if you want to know more about this debit card.
UOB KrisFlyer Debit Card
Are you a frequent flyer? If so, the UOB KrisFlyer Debit Card is a must-have. This debit account lets you spend and save on travel with no minimum spending required. With this debit card, you can earn KrisFlyer miles per S$1 spent on Scoot, Singapore Airlines, KrisShop, and Kris+ purchases.
You can also earn 0.4 miles on all your other spend, and up to 7 KrisFlyer miles per S$1 spent with your UOB debit card and account. Cardholders can also take advantage of exclusive privileges with Grab, Scoot, and ChangiWiFi.
This debit card also lets you enjoy attractive exchange rates for all your travel needs. You can skip the queues are money changes since these exchange rates are available in your UOB TMRW app.
From 1 February 2023 to 31 July 2023, you can also get S$10 when you sign up for Kris+ and use code “KPUOB23” on your first login. This bonus can be used at more than 1,500 Kris+ partner outlets in Singapore.
Head over to this page to learn more about the KrisFlyer Debit Card Singapore.
A Word From OMY
Without question, having the best debit card in Singapore can make your life so much easier – you don’t need to carry cash around, you can skip worrying about going over your credit card limit, and you can enjoy exclusive perks. Now that you know the best debit cards in Singapore, you can finally choose the best one for your needs.
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