If you’re a UOB credit cardholder planning to travel overseas, you may be wondering about the fees and charges that come with using your card abroad. One of the most important fees to consider is the overseas transaction fee, which is charged whenever you make a purchase in a foreign currency. This fee can vary depending on the card issuer, and UOB is no exception.
As of 2024, UOB’s overseas transaction fee for credit cards is 3.25%. This means that for every transaction made in a foreign currency, you’ll be charged an additional 3.25% on top of the purchase amount. While this fee may seem small, it can quickly add up if you’re making a lot of purchases during your trip. It’s important to factor this fee into your travel budget to avoid any surprises when you return home.
To help you better understand UOB’s credit card overseas fees, this article will provide an overview of how they work, as well as tips for using your UOB card abroad. We’ll also cover how to maximise your rewards and benefits, manage your card overseas, and ensure your security while travelling. So, let’s dive in and explore everything you need to know about UOB credit card overseas transaction fees.
Key Takeaways
- UOB’s overseas transaction fee for credit cards is 3.25%.
- Factor this fee into your travel budget to avoid any surprises.
- Use your UOB card wisely and take advantage of rewards and benefits to maximise your travel experience.
Understanding UOB Credit Card Overseas Fees
If you are planning to use your UOB credit card overseas, it is important to understand the fees that you may be charged. These fees can include foreign currency transaction fees and administrative fees, which can add up and impact your overall spending.
Foreign Currency Transaction Fees
When you use your UOB credit card to make a purchase in a foreign currency, you may be charged a foreign currency transaction fee. This fee is usually a percentage of the transaction amount and can range from 2.8% to 3.25%. The exact fee will depend on the type of UOB credit card you have.
It is important to note that the foreign currency transaction fee is in addition to the exchange rate used to convert the foreign currency into Singapore dollars. This means that you may end up paying more than you expect for your overseas purchases.
Administrative Fees
In addition to the foreign currency transaction fee, UOB credit cards may also charge an administrative fee for transactions made in foreign currencies. This fee is usually a percentage of the transaction amount and can range from 2.8% to 3.1%.
The administrative fee is charged to cover the cost of processing the foreign currency transaction. It is important to note that this fee is separate from the foreign currency transaction fee and will also be added to the total amount you are charged for your overseas purchases.
To avoid being charged excessive fees when using your UOB credit card overseas, it is important to understand the fees that may be charged and plan accordingly. Consider using a credit card with lower fees or using cash instead, where possible.
How to Use Your UOB Card Abroad
If you’re planning to travel overseas, it’s important to know how to use your UOB credit card abroad. Here are some tips to help you make the most of your card while you’re away.
Activating Overseas Card Use
Before you leave Singapore, you’ll need to activate your UOB credit card for overseas use. You can do this easily through UOB Personal Internet Banking or the UOB Mighty app. Simply select the card you want to activate, and follow the prompts to complete the process.
Overseas ATM Cash Withdrawal
If you need cash while you’re abroad, you can use your UOB credit card to withdraw money from any UOB or Cirrus/PLUS ATM. Just make sure you have your card and your PIN with you. If you don’t know your card PIN, you can reset it instantly through UOB TMRW or UOB Personal Internet Banking.
Contactless Transactions Abroad
Many merchants overseas accept contactless payments, which can be a convenient way to pay for small purchases. To make a contactless payment with your UOB credit card, simply hold your card near the contactless reader and wait for the transaction to be processed. You can also use your UOB Mighty app to make contactless payments with your phone.
Remember, when you use your UOB credit card abroad, you may be charged a currency conversion fee and an overseas transaction fee. Be sure to check the fees and charges before you travel to avoid any surprises. With these tips, you can enjoy hassle-free overseas transactions with your UOB credit card.
Maximising Rewards and Benefits
When it comes to using your UOB credit card overseas, there are many ways to maximise your rewards and benefits. Here are some tips to help you get the most out of your card.
Earn KrisFlyer Miles
If you are a frequent traveller, the KrisFlyer UOB Credit Card is a great option. With this card, you can earn KrisFlyer miles for every dollar you spend on Singapore Airlines Group related card transactions and Kris+ card transactions. You can earn up to 3 miles per dollar spent, which can quickly add up to free flights and other rewards.
UOB Rewards+ and Promotions
UOB Rewards+ is a loyalty programme that allows you to earn points for every dollar you spend on your UOB credit card. These points can be redeemed for a variety of rewards, including shopping vouchers, dining vouchers, and travel vouchers. In addition to the Rewards+ programme, UOB also offers a variety of promotions throughout the year, such as cashback offers and discounts on dining and travel.
Dining and Travel Perks
If you love dining out and travelling, the UOB credit card has plenty of perks to offer. The Dining Advisor is a feature that allows you to search for restaurants and make reservations through the UOB website. You can also enjoy discounts and other benefits at participating restaurants. The Travel Insider is another feature that can help you plan your next trip. This service offers travel recommendations and deals on flights, hotels, and activities.
Overall, the UOB credit card offers a variety of rewards and benefits for those who use their card overseas. By taking advantage of these perks, you can earn miles, points, and other rewards while enjoying dining and travel experiences.
Managing Your Card Overseas
When travelling overseas, it’s important to manage your UOB credit card to avoid any unexpected charges. Here’s what you need to know to manage your card while overseas.
Checking Your Balance and Charges
To check your UOB credit card balance and charges while overseas, you can use UOB’s online or mobile banking services. Simply log in to your personal internet banking account to view your current balance, transaction history, and any fees or charges that have been applied to your account.
Credit Limit and Card Services
Before travelling overseas, it’s important to ensure that your UOB credit card has sufficient credit limit to cover your expenses. You can check your credit limit and request for a credit limit increase through UOB’s online or mobile banking services.
In addition, UOB offers a range of card services that can help you manage your card while overseas, such as setting up automatic payments, blocking your card if it’s lost or stolen, and changing your card’s magnetic stripe settings for overseas use.
Remember to keep your UOB credit card safe and secure while travelling overseas, and always report any suspicious or unauthorised transactions to UOB immediately.
By following these simple steps, you can manage your UOB credit card while overseas and avoid any unexpected charges.
Customer Support and Security
When you’re travelling abroad, it’s important to know that your UOB credit card is secure and that you can get help if you need it. UOB provides excellent customer support and security measures to ensure that your credit card transactions are always safe and secure.
24-Hour Hotline Assistance
If you have any questions or concerns about your UOB credit card while you’re abroad, you can call the 24-hour hotline for assistance. The hotline is available 24 hours a day, 7 days a week, so you can get help whenever you need it. You can also call the hotline to report a lost or stolen card, and UOB will immediately disable your card to prevent any unauthorised transactions.
Reporting Lost or Stolen Cards
If you lose your UOB credit card or it gets stolen while you’re abroad, it’s important to report it immediately. You can call the 24-hour hotline to report your lost or stolen card, and UOB will send you a replacement card as soon as possible. You can also report your lost or stolen card at any UOB branch or by phone.
To ensure the security of your UOB credit card while you’re abroad, the magnetic stripe on all UOB credit, debit and ATM cards are disabled for overseas point-of-sale transactions and ATM access. This reduces the risk of unauthorised transactions being made on your card.
Frequently Asked Questions
How much will I be charged for using my UOB credit card abroad?
When you use your UOB credit card outside Singapore, you will be charged a foreign transaction fee. This fee is a percentage of the transaction amount and varies depending on the type of UOB card you have. As of February 2024, the fee for UOB credit cards is 3.25% of the transaction amount.
What are the fees for foreign transactions on UOB credit cards?
In addition to the foreign transaction fee, you may also be charged an administrative fee of 3.1% for Visa, Mastercard, JCB International or UnionPay International credit cards. However, this fee will be increased to 3.25% on the amount converted from 9 March 2020.
Can I use my UOB credit card internationally without incurring high fees?
Unfortunately, using your UOB credit card internationally will always incur fees. However, you can minimise these fees by choosing a credit card that offers lower foreign transaction fees or by using a prepaid travel card.
Is there a way to calculate the fees on overseas transactions with a UOB credit card?
Yes, you can calculate the fees on overseas transactions by multiplying the transaction amount by the foreign transaction fee percentage. For example, if you make a transaction of £100 with a UOB credit card, you will be charged a fee of £3.25.
What is the billing cycle for UOB credit cards when making foreign transactions?
The billing cycle for UOB credit cards when making foreign transactions is the same as when making local transactions. However, you should be aware that foreign transactions may take longer to process and may not appear on your statement immediately.
Are there any tips to minimise fees when using my UOB credit card overseas?
Yes, there are a few tips to help you minimise fees when using your UOB credit card overseas. Firstly, consider using a credit card that offers lower foreign transaction fees. Secondly, try to avoid making small transactions as these may attract higher fees. Finally, consider using a prepaid travel card as an alternative to your UOB credit card.