Best multi-currency cards for overseas travel spending

Travelling abroad can be an exciting adventure, but the excitement should not turn into unexpected stress when you're struggling with foreign currency conversion rates . Especially when you're trying hard to relax. Or if you've spotted souvenirs and are thinking if they're worth the price tags or deserve some haggling with the stall owner. 

In addition to travel credit cards , multi-currency cards have revolutionised the way we spend money overseas.

If you're based in Singapore and planning an international trip, a multi-currency card can be your best companion. In this article, we'll explore the best multi-currency cards in Singapore tailored to different types of travellers.

1. For the Budget-Conscious Traveller: Revolut

Features

• No monthly fees
• Competitive exchange rates
• Real-time currency exchange

Why it suits budget-conscious travellers

Revolut is perfect for travellers looking to save on fees and get the best exchange rates. 

With no monthly fees and real-time currency exchange, you can keep track of your spending and stay within your budget. And if you need cash, you can always use the "Find ATMs Nearby" feature on the app to locate the nearest ATM to make a withdrawal. 

Revolut is known for offering competitive rates, ensuring you get more value for your money.

2. For the family vacationer: YouTrip

Features

• No currency conversion fees
• Exclusive travel promotions
• Linked to Mastercard

Why it suits family vacationers

Family vacations are all about creating lasting memories, not worrying about financial logistics. The YouTrip card is tailor-made for family travellers, offering competitive exchange rates and no transaction fees across multiple currencies. 

With exclusive travel promotions and a Mastercard link, you can enjoy VIP experiences and perks while travelling. You can indulge in shopping and dining without worrying about currency conversion fees. 

What sets YouTrip apart is its multi-user functionality, allowing family members to share a single account and manage expenses collaboratively. With parental controls and real-time spending notifications, you can rest easy knowing your family's finances are in good hands. 

3. For the digital nomad: Wise

Features

• Business account options
• Multi-currency wallet
• Transparent fees

Why it suits digital nomads

Digital nomads require financial tools that are as flexible as their lifestyle, and the TransferWise Borderless Account delivers just that.

With its borderless functionality, you can hold and convert multiple currencies with ease, making it ideal for remote workers earning in different currencies.

Plus, TransferWise's transparent fee structure ensures you're always getting the best deal, whether you're paying for co-working space in Bali or accommodation in Berlin.

4. For the frequent flyer: DBS multi-currency account

Features

• Wide range of currencies
• Convenient mobile app
• ATM withdrawals overseas

Why it suits frequent flyers

Frequent flyers need a card that keeps up with their jet-setting lifestyle, and the DBS Multi-Currency Account fits the bill perfectly.

Offering competitive exchange rates and the convenience of linking directly to your existing DBS account, this card simplifies currency management for those constantly on the go. Plus, with no administrative fees for currency conversion, you can focus on racking up those air miles without breaking the bank.

5. For the business traveller: HSBC Premier Mastercard

Features

• Global ATM withdrawals
• Multi-currency debit card
• Travel insurance coverage

Why it suits business travellers

Business travellers require efficiency and reliability when it comes to managing expenses abroad, and the HSBC Premier Mastercard delivers on both fronts.

With its multi-currency capabilities and dedicated travel concierge service, this card streamlines the expense management process, allowing you to focus on sealing deals and networking.

Plus, with worldwide acceptance and comprehensive travel insurance coverage, you can travel with confidence knowing you're protected every step of the way.

Choosing the right multi-currency card

When choosing the right multi-currency card for your overseas travel spend, it's essential to consider your specific needs and travel habits. Whether you're a budget-conscious traveller looking to save on fees or a luxury traveller seeking exclusive perks, there's a multi-currency card in Singapore that's perfect for you.

Before making a decision, compare the features, fees, and benefits of each card to find the one that best suits your lifestyle and travel goals. Additionally, consider factors such as customer service, mobile app usability, and security features to ensure a seamless and secure travel experience.

Conclusion

Multi-currency cards have transformed the way Singaporeans manage their overseas travel spend, offering convenience, flexibility, and cost-saving benefits.

Whether you're a budget-conscious traveller , luxury traveller, business traveller, adventure seeker , or frequent traveller , there's a multi-currency card in Singapore tailored to your needs.

By choosing the right multi-currency card and taking advantage of its features and benefits, you can make the most of your international adventures without the hassle of managing foreign currencies.

So, before you embark on your next overseas trip, be sure to equip yourself with the best multi-currency card that Singapore has to offer!

ALSO READ: 3 financial tips for the June travel season

This article was first published in ValueChampion.