If you’re looking for a reliable and convenient way to manage your finances in Singapore, the POSB Visa Debit Card may be the perfect solution for you. This card offers a range of features and benefits that make it an excellent choice for everyday transactions, including cash withdrawals, online shopping, and more. In this article, we’ll take a closer look at what the POSB Visa Debit Card has to offer, including its features, fees and charges, eligibility requirements, and more.
One of the key benefits of the POSB Visa Debit Card is its ease of use. With this card, you can make purchases at millions of merchants worldwide, both online and offline. You can also withdraw cash from any ATM that accepts Visa cards, making it easy to access your funds whenever you need them. Additionally, the card comes with a range of security features, including chip-and-PIN technology, which helps to protect you against fraud and unauthorised transactions.
Overall, the POSB Visa Debit Card is a great choice for anyone looking for a reliable and convenient way to manage their finances in Singapore. Whether you’re looking to make everyday purchases, withdraw cash, or manage your finances online, this card has everything you need to get started. So why wait? Apply now and start enjoying the benefits of the POSB Visa Debit Card today!
Key Takeaways
- The POSB Visa Debit Card is a reliable and convenient way to manage your finances in Singapore.
- The card offers a range of features and benefits, including cash withdrawals, online shopping, and more.
- With its ease of use, security features, and worldwide acceptance, the POSB Visa Debit Card is an excellent choice for anyone looking to manage their finances with ease.
Features and Benefits
If you’re looking for a debit card that offers great rewards and cashback, then the POSB Visa Debit Card might be the perfect card for you. Here are some of the features and benefits you can enjoy with this card.
Rewards and Cashback
With the POSB Visa Debit Card, you can earn cash rebates when you shop at participating merchants. You can earn up to 9% cash rebates on your purchases, depending on the merchant. You can also earn yuuPoints, which can be redeemed for cash rebates or other rewards.
Contactless Payments
The POSB Visa Debit Card supports contactless payments, which means you can pay for your purchases quickly and easily with just a tap of your card. This feature is perfect for those who are always on the go and don’t want to waste time fumbling with cash or cards.
Online Shopping Perks
If you love shopping online, then you’ll love the online shopping perks that come with the POSB Visa Debit Card. You can enjoy exclusive discounts and promotions when you shop at participating online merchants, which means you can save even more money on your purchases.
Dining and Entertainment Offers
If you enjoy dining out and going to the movies, then you’ll love the dining and entertainment offers that come with the POSB Visa Debit Card. You can enjoy discounts and promotions at participating restaurants and entertainment venues, which means you can save money while still enjoying your favourite activities.
Overall, the POSB Visa Debit Card is a great choice for those who want to enjoy great rewards and cashback, as well as convenient and secure payments. With its contactless payments, online shopping perks, and dining and entertainment offers, this card has something for everyone.
Using Your Card
Once you have your POSB Visa Debit Card, you can start using it for a variety of transactions. Here are some ways you can use your card:
ATM Withdrawals
You can use your POSB Visa Debit Card to withdraw cash from any ATM that accepts Visa cards. Simply insert your card into the ATM, enter your PIN, and select the amount you wish to withdraw. Keep in mind that there may be transaction fees for using ATMs outside of Singapore, so it’s best to check with your bank before you travel.
Local Transport with SimplyGo
You can use your POSB Visa Debit Card to pay for local transport using the SimplyGo feature. Simply tap your card on the reader at the start and end of your journey, and the fare will be automatically deducted from your account. This is a convenient and hassle-free way to pay for your daily commute, and you won’t have to worry about topping up your card.
Travelling Abroad
If you’re travelling abroad, you can use your POSB Visa Debit Card to make purchases and withdraw cash in foreign currency. Keep in mind that there may be transaction fees for using your card overseas, so it’s best to check with your bank before you travel. You may also want to consider getting a travel card that is specifically designed for use overseas.
Overall, your POSB Visa Debit Card is a versatile and convenient way to manage your finances. Whether you’re withdrawing cash from an ATM, paying for your daily commute, or travelling abroad, your card has got you covered. So go ahead and start using your card today!
Fees and Charges
If you’re considering getting a POSB Visa Debit Card, it’s important to know the fees and charges that come with it. Here are some of the fees and charges you should be aware of:
Understanding the Annual Fee
The POSB Visa Debit Card has an annual fee of $0. That’s right, there’s no annual fee for this card! This is great news for those looking for a debit card that won’t cost them anything to use.
Foreign Transaction Fees
If you’re planning on using your POSB Visa Debit Card while travelling overseas, it’s important to know that there is a foreign transaction fee of 2.8%. This means that for every $100 you spend overseas, you’ll be charged an additional $2.80 in fees. While this fee may seem high, it’s actually quite standard for debit cards in Singapore.
Other Applicable Charges
In addition to the annual fee and foreign transaction fee, there are a few other charges that may apply to your POSB Visa Debit Card. These include:
- Replacement fee: $5 per card
- ATM withdrawal fee: $0.30 per transaction
- Early account closure fee: $30 if account is closed within 6 months of opening
- Overdraft fee: 28.8% per annum on the overdrawn amount
It’s important to note that there are no maintenance fees or minimum spend requirements for the POSB Visa Debit Card.
Overall, the POSB Visa Debit Card is a great option for those looking for a debit card with no annual fee and no minimum spend requirements. While there are some fees and charges to be aware of, they are quite standard for debit cards in Singapore.
Eligibility and Application
If you’re interested in getting a POSB Visa Debit Card, here’s what you need to know about eligibility and the application process.
Criteria for Eligibility
To be eligible for a POSB Visa Debit Card, you must be at least 16 years old and have a POSB Savings Account, DBS Savings Plus Account, DBS Autosave Account, or DBS Current Account. If you’re a foreigner, you can still apply for a debit card at any of their branches.
Application Process
Applying for a POSB Visa Debit Card is simple and straightforward. You can apply online through their website or through their mobile app. Alternatively, you can visit any of their branches to apply in person.
Required Documents
To apply for a POSB Visa Debit Card, you’ll need to provide the following documents:
- Your NRIC or passport (for foreigners)
- Proof of address (e.g. utility bill, bank statement, etc.)
Once you’ve submitted your application and provided the required documents, you’ll receive your POSB Visa Debit Card within 7-10 working days.
Overall, getting a POSB Visa Debit Card is a great way to enjoy the convenience and security of a debit card, while also earning rewards and cashback on your purchases. So why not apply now and start enjoying the benefits?
Managing Your Card
Managing your POSB Visa Debit Card is easy and convenient with the bank’s online banking platform, digibank. Here are some of the key features that you can use to manage your card:
Online Banking with digibank
With digibank, you can access your account information and manage your card from anywhere, at any time. Simply log in to your digibank account using your Touch / Face ID or digibank User ID & PIN, and you can view your account balance, transaction history, and more.
Setting Your PIN and Security
To ensure the security of your POSB Visa Debit Card, it is important to set a strong PIN and enable security features such as SMS notifications and transaction alerts. You can set your PIN and manage your security settings through digibank or by calling POSB’s customer support.
Customer Support Services
If you have any questions or concerns about your POSB Visa Debit Card, the bank’s customer support team is here to help. You can contact them via phone, email, or live chat, and they will be happy to assist you with any issues or queries you may have.
In addition to these features, POSB also offers a mobile app called PayLah!, which allows you to make payments and transfer funds using your mobile device. With PayLah!, you can also view your transaction history and manage your account settings on the go.
Overall, managing your POSB Visa Debit Card is a breeze with the bank’s range of convenient and user-friendly tools and services. So why not take advantage of these features today and enjoy greater control over your finances?
Frequently Asked Questions
How can I apply for a POSB Visa debit card in Singapore?
Applying for a POSB Visa debit card in Singapore is easy and hassle-free. You can apply for a POSB Visa debit card by visiting any POSB branch in Singapore. Alternatively, you can apply online through the POSB website. You will need to provide your personal details, including your NRIC or passport number, and proof of address.
What are the exciting benefits of using a POSB Visa debit card?
Using a POSB Visa debit card comes with exciting benefits. You can enjoy cashback rewards, discounts, and promotions when you use your POSB Visa debit card for purchases. Additionally, you can use your POSB Visa debit card to make online transactions, withdraw cash from ATMs, and pay for your daily expenses.
What is the daily transaction limit for a POSB Visa debit card?
The daily transaction limit for a POSB Visa debit card is $5,000. This limit includes both local and overseas transactions. If you need to make a transaction that exceeds this limit, you can contact POSB to request a temporary increase in your transaction limit.
Are there any specific requirements to obtain a POSB Visa debit card for students?
Yes, there are specific requirements to obtain a POSB Visa debit card for students. To apply for a student POSB Visa debit card, you must be at least 16 years old and have a valid student pass. Additionally, you must have a POSB savings account or a DBS savings plus account.
How do I check my balance on a POSB Visa debit card?
You can check your balance on a POSB Visa debit card by logging in to your POSB/DBS internet banking account or through the POSB/DBS mobile app. Alternatively, you can check your balance by visiting any POSB/DBS ATM in Singapore.
Does owning a POSB Visa debit card incur any fees?
Owning a POSB Visa debit card does not incur any annual fees. However, there may be transaction fees for certain types of transactions, such as overseas transactions or cash withdrawals from non-POSB/DBS ATMs. It is important to read and understand the terms and conditions of your POSB Visa debit card to avoid any unexpected fees.