Best Debit Cards in Singapore

Are you thinking of getting a card that allows you to conveniently purchase goods and services, but at the same time, ensuring that you spend within budget and do not over-stretch yourself financially? If that is what you are looking for, then a debit card is just the card that you need.

A debit card has the same purchasing function of a credit card and can be used anywhere a credit card are permitted. However, a debit card is directly link to your checking account and money automatically gets deducted when you spend – essentially you could only spend what you have. You do not “borrow” money to spend, like in the use of credit card to pay back later in the month, failing which incurs a high interest payment!

A debit card is a convenient tool to help you make payment, without the need of carrying cash around. The convenience is one of the reason why many Singaporeans own a debit card today. Don’t own a debit card yet and you are thinking of getting one now? Continue reading and you will find a comparison of the top 5 debit cards currently in the market and you can decide which one is the best for your current lifestyle.

Also Read: How to get a prepaid credit card in Singapore

Here is a table that list down the top 5 debit cards in Singapore and the features of each card that made them stand our from the rest:

1. DBS VISA Debit

Highlight: Cashback + no foreign exchange fee

Requirements:

• 16 (minimum) years of age
• Current holder of DBS Autosave, Current, and Savings Plus accounts and POSB Savings Account

Features:

• 3% cashback on online food delivery & local transport
• 2% cashback on all foreign currency spend (including online purchase)
• 1% cashback on all local Visa contactless spend
• No foreign exchange fees (for CAD, EUR, AUD, JPY, HKD, USD, THB, GBP, NOK, SEK, and NZD)

DBS Visa Debit Card

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2. UOB ONE Debit

Highlight: Exclusive Shopee privileges

Requirements:

• 16 (minimum) years of age
• Current holder of UOB Current or Savings account
• S$18 annual fee (1st 3 years waived)

Features:

• 3% cashback on Shopee Singapore & exclusive privileges
• 3% cashback on Dairy Farm Singapore transaction
• 1% cashback on Grab transaction
• Free transaction fee for overseas cash withdrawal at Malaysia, Indonesia & Thailand

*You can apply for the UOB Direct VISA Debit by visiting any UOB branch. 

UOB Direct Visa Debit Card

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3. DBS UnionPay Platinum Debit

Highlight: Cashback on Chinese Yuan transaction

Requirements:

• 16 (minimum) years of age
• Current holder of DBS Autosave, Current, and Savings Plus accounts and POSB Savings Account

Features:

• 5% cashback on any spend in Chinese Yuan
• 1% cashback on any other foreign currency
• 0.5% cashback on local transactions
• 24-hour Concierge (UnionPay service)
• Enables contactless payment (with maximum spend of SGD $100) under UnionPay QuickPass
• Overseas cash withdrawal ATM fee waiver (SGD $7 per transaction)
• Exclusive UnionPay privileges (such as 10% discount from more than 100 airports worldwide)

*You may discover more information and apply for the DBS UnionPay Platinum Debit here.

4. POSB PAssion Debit

Highlight: Everyday convenience

Requirements:

• 16 (minimum) years of age
• Current holder of DBS Autosave, Current, and Savings Plus accounts and POSB Savings Account
• PAssion Membership fee: SGD $12 fee for 5 years membership (waived perpetually)

Features:

• 4% rebate at Cold Storage, Marketplace, Jasons, Giant & Guardian
• 10% cashback on dining and groceries for new card members
• 3% cashback on online spend
• 1% cashback at Takashimaya
• 1-for-1 deals on th 10th day of the month at Cathay Cineplex, Singapore Cable Car, Pororo Park & many more
• Enables contactless payment via MasterCard Paypass

*You can find out further information about the POSB Passion Debit here.

5. OCBC Plus! Visa Debit

Highlight: Discounts at Fairprice, Unity & Warehouse Club

Requirements:

• 16 (minimum) years of age
• Current holder of OCBC deposit account
• S$24 annual fee (1st year waived)

Features:

• Up to 7% off at Fairprice, Unity & Warehouse Club
• Up to 20.6% fuels savings at Esso
• Instant 18% off + 0.2% linkpoints rebate at Caltex
• Fast, easy and secure payment with Visa payWave

DBS DBS SAFRA Mastercard Card

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Conclusion

To sum up, the featured debit cards mentioned above are among the best ones in Singapore. Other good debit cards in Singapore exist, but these are some that you’d more likely be interested. Having this TOP 5 list gives you a good starting point to decide which card is the best for you!

Also, with any of the listed debit cards, you could be in on great deals that are exclusive to cardholders.This means you could be saving while you are spending!

Remember, unlike credit cards, debit cards allow you to limit your spending only to the amount of money that you actually own. You don’t get the chance to spend credit that’s not yet in your account. That said, if you have trouble controlling your spending, a debit card is definitely a card you should consider!

By now, you may want jump on the bandwagon and nod your head in agreement; debit cards are definitely advantageous – especially if you choose one that suits your lifestyle. Above are 5 of the best ones for every Singaporean out there. Which card do you want to apply for?

Feel free to discuss your debit card choice by leaving messages below. While you’re at it, go ahead and leave any relevant concerns, too!