• Best Debit Cards Singapore

    Debit Cards in Singapore

    Debit cards are perhaps one of the most important financial instruments that enable convenience in banking. With your debit card, you can make payments almost anywhere in the world. These cards, in most cases, are linked directly to your Savings Bank account and the money gets deducted from your savings bank account when you make a transaction.

    Every bank in Singapore that offers Savings Bank Accounts offer debit cards. Money can be withdrawn from these cards from ATM machines and these cards can also be used to make online payments.

    Going on to evaluate the best debit cards in Singapore, we look at some cards offered by top banks in Singapore. Just like credit cards, debit cards also come with some impressive features and benefits. Debit cards also have an annual fee associated with them just like credit cards, but the annual fee is much lower. In the case of credit cards sometimes, the annual fee determines the extent of features available – the higher the annual fee, the more the features available. The case is more or less similar in the case of debit cards too – but as mentioned earlier, debit cards come with a much lesser annual fee than credit cards.

    Let’s go on and take a look at the best debit cards in Singapore.

    Best Debit Cards in Singapore

    Here are the top 5 debit cards in Singapore:

    • The DBS Visa Debit Card
    • Citibank Debit MasterCard
    • UOB Delight Debit Card
    • OCBC Plus! Visa Debit Card
    • HSBC Visa Debit Card

    DBS Visa Debit Card

    The DBS Visa Debit Card is one of the most popular debit cards offered by DBS and comes with some impressive benefits indeed. Let’s take a look at the most notable features of the DBS Visa Debit Card

    Advantages of the DBS Visa Debit Card

    • With the DBS Visa Debit Card, you get a 5% cashback on all your spends. Whether you use your card for shopping, entertainment or travel, you will receive an impressive cashback of 5%.
    • In order to receive the benefit of this cashback offer, all you need to do is to spend S$400 a month on your debit card.
    • You can use the card to commute using the public transport and pay using NETS FashPay.

    Disadvantages of the DBS Visa Debit Card

    • One of the biggest disadvantages of the card is that you will have to keep your withdrawals to three times a month.
    • In order to receive the cashback, you need to pay through Visa PayWave, Apple Pay, Samsung Pay or Android Pay. Other payment methods will not give you a cashback.

    Citi Debit MasterCard

    The Citi Debit MasterCard is meant particularly for Citibank’s exclusive customers and comes with some impressive offers indeed. Let’s take a look at the most prominent pros and cons of the Standard Chartered Priority Debit Card:

    Advantages of the Citibank Debit MasterCard Card:

    • You can make convenient payments at any place, anytime.
    • The debit card can be used to make online transactions as well.
    • You can keep a tab on your expenses through SMS alerts.
    • You can use your debit card to make cash withdrawals from over 2 million ATMs across the globe.
    • Exclusive MasterCard privileges including car rentals and discounts on flight tickets can be enjoyed with the card.
    • You can enjoy a host of gourmet privileges, discounts at entertainment and cinema establishments and Citi World Privileges.
    • The card also offers discounts on hotel bookings – bookings made on Agoda.com, Kaligo.com and Klook.

    Disadvantages of Citibank Debit MasterCard

    The card, although loaded with several exciting features, does not offer features to the same level as Citibank’s credit cards.

    UOB Direct Visa Debit Card

    The Direct Visa Debit Card is amongst the most popular UOB Debit Cards in Singapore and comes loaded with a range of offers and privileges indeed. Let’s take a look at the most prominent features and benefits of the UOB Direct Visa Debit Card:

    Advantages of the UOB Direct Visa Debit Card

    • You can earn impressive cash rebates of up to 10% on your purchases with the UOB Direct Visa Debit Card.
    • The UOB Direct Debit Card, when linked to your UOB One account, gives you some awesome benefits indeed. You can earn a 3.33% interest on your UOB One Account by spending a minimum of S$500 a month through your UOB direct Debit Card.
    • There is no minimum spend that has to be met in order to receive cashbacks.
    • The card allows you to make payments conveniently – the card is also enabled for contactless payments.
    • You can make cash withdrawals from overseas ATMs at no additional fee.
    • You get exclusive travel benefits with discounts of up to 10% when you make bookings with your UOB Direct Visa Debit Card.

    Disadvantages of the UOB Direct Visa Debit

    • In order to enjoy the benefits of earning a 3.33% savings on your monthly spend, you need to have a UOB One Account.
    • You have to make a minimum spend on your UOB Debit Card in order enjoy the savings rate.

    The OCBC Plus! Visa Debit Card

    The OCBC Plus! Visa Debit Card is the most popular debit card offered by OCBC and comes with some excellent benefits and privileges indeed. Here are the pros and cons associated with the debit card:

    Advantages of the OCBC Plus! Visa Debit Card:

    • You can get discounts of up to 7% at FairPrice Stores and at Warehouse Club when you use your card to make purchases.
    • You can also get a discount of up to 3% at FairPrice online stores.
    • You can make convenient cash withdrawals and online payment using your card. Basically, you can go cashless and get rewarded for it.
    • You can enjoy periodic discounts at Esso stations, Caltex stations, Unity and other popular, participating merchants in Singapore.

    Disadvantages of the OCBC Plus! Visa Debit Card

    • In order to enjoy the discounts, you must spend a minimum amount every month.
    • To enjoy maximum benefits, you must spend a minimum of S$500 a month using your OCBC Plus! Visa Debit Card.

    HSBC Visa Debit Card

    HSBC is one of the most popular banks in the world, with its operations spread across several branches. The bank offers a spate of banking and financial products that include debit cards, credit cards, loans, insurance products and more. Let’s take a look at the salient features of the HSBC Visa Debit Card. We evaluate the card’s pros and cons to form a better understanding of the product.

    Advantages of the HSBC Visa Debit Card

    • You can withdraw cash from anywhere in the world with the HSBC Visa Debit Card – from over two million ATMs across the world.
    • You can up your daily limit to almost S$10,000 to pay for your big ticket purchases.
    • The HSBC Visa Debit Card can be used to make payments through NETS at a whopping 87,000 acceptance centres throughout the Island State.
    • HSBC does not charge you an annual fee to use its debit card services.
    • You can enjoy a host of promotional offers including discounts of up to 8% on hotel bookings on Hotels.com, a 14% Caltex and Shell stations across the Island State and other attractive discounts on Borderlinx, Shopback, savings on car rentals and more.
    • The card also offers you a travel insurance if you make bookings through your debit card towards travel related reservations.

    Disadvantages of the HSBC Visa Debit Card

    The card, although feature rich, does not offer benefits on the same scale as HSBC’s credit card offerings.

    Review top 5 Debit Cards Offers & Benefits in Singapore

    Debit Card Name

    Offers

    Minimum Amount

    Other benefits

    DBS Visa Debit Card

    Cashbacks of up to 5% when you pay through Visa PayWave, Samsung Pay, Apple Pay and Android Pay.

    Other periodic promotional offers available under travel, entertainment and shopping.

    Minimum of S$400 must be spent in a month to enjoy cashback.

    Withdrawals must be limited to thrice a month.

    Easy cash withdrawals

    Seamless payments

    Citi Debit MasterCard

    Citi World Privileges, Gourmet privileges and travel discounts on Klook, Agoda.com and Kaligo.com.

    Discounts of up to 10% at participating merchants.

    No minimum spend required.

    Can be used for online payments.

    Secure and safe.

    UOB Direct Visa Debit Card

    Cash rebates of up to 10% when you use your card to make purchases.

    3.335 can be earned on balance in your UOB One Account.

    Up to 10% off on travel related bookings with participating merchants.

    S$500 to qualify for interest on UOB One Account.

    Card earns interest when linked to the UOB One Account.

    Various periodic discounts available from time to time.

    HSBC Visa Debit Card

    14% discount at Caltex Stations and Shell Stations across Singapore.

    8% discount on hotel bookings when the card Is used to make reservations.

    No minimum spend required.

    Insurance available when the card is used to make travel related reservations.

    Periodic promotional offers can be availed from time to time.

    No annual fees associated with card.

    OCBC Plus! Debit Card

    7% discount at Fair Price and Warehouse Club.

    3% discount at online stores.

    Up to 5% discount at Unity, Cheers, Borderlinx and Shopback.

    Minimum S$300 must be spent in order to enjoy discount offers.

    Can earn better discounts on offers if you spend more.

    Promotional offers cover a wide range of merchants.

    How to choose the best debit card in Singapore?

    Well, debit cards, unlike credit cards, do not have stringent eligibility parameters that need to be met. If you want to choose the ideal debit card, here are some things you can keep in mind:

    • Do your research to know what card will best suit your needs – for instance, if your interest is shopping, choose a card that offers good shopping discounts.
    • Choose a card that gives you good periodic promotional benefits. You can enjoy these benefits from time to time.
    • Pick a card that you have your Savings Bank Account with. That makes it easier for you. As such, you will need a Savings Bank account to use your debit card.
    • Choosing a card with no annual fees will help you save quite a bit.   
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