Interest-free period | 25 days from the date of the statement of account |
Finance Charges For Card Transactions | If you do not pay the entire outstanding balance by the payment due date, you must pay a finance charge at a prevailing interest rate of 27.8% p.a. on a daily basis on (i) each individual transaction comprised in the outstanding balance in your Card Account Statement from the date such transaction was effected until full payment of the outstanding balance together with interest is made and (ii) any new transaction from the date the transaction was effected until full payment is made (notwithstanding that the payment for such transaction may not be due yet). |
Finance Charges on Cash Advance | Prevailing interest rate of 28.5% p.a. (subject to compounding if the charges are not repaid in full) on the amount withdrawn, chargeable on a daily basis from the date of withdrawal until receipt of full payment. (Minimum charge: S$2.50). |
Interest Adjustment | If minimum payment is not received by the payment due date, an additional interest rate of 3% p.a. will be added to the prevailing interest rate of your Card Account, and shall take effect from the day after your next Card Account Statement date. The reinstatement to such prevailing interest rate will be effective on the first working day after your next Statement date once the minimum payment for your Card Account is made in full on or before your payment due date for three (3) consecutive monthly statements. |
Minimum Monthly Payment | 3% of the statement balance (or S$50, whichever is greater) plus any amount that is overdue and/or exceeds your credit limit. |
Late Payment Charge Per Account | S$100 will be levied if minimum payment is not received on the card account by payment due date. |
Cash Advance Fee | 8% of the amount withdrawn per transaction or S$15, whichever is greater. |
Fees for Foreign Currency Transactions | Foreign Currency Retail Transactions - Transactions made in foreign currency will be converted to Singapore Dollar (SGD) based on the exchange rate determined by the respective card associations (American Express, Mastercard or Visa).
- All foreign currency conversions are based on prevailing wholesale interbank rates or government-mandated rates, as determined by respective card associations.
- The exchange rate applied during processing may differ from the rate on the transaction date due to market fluctuations.
How are foreign currency transactions converted to SGD by the respective card associations? - Transactions in US Dollars (USD) are converted directly to SGD
- Transactions in other foreign currencies are first converted to USD, then converted to SGD
Applicable Foreign Currency Transaction Fees
All foreign currency transactions (including purchases, refunds and reversals) are subject to the following fees on the converted SGD amount: | Foreign Currency Transaction Fees | American Express/Mastercard/Visa Credit Cards |
|---|
Administrative fee charged by respective card associations | 1.00% | Administrative fee charged by bank | 2.25% | Total administrative fee | 3.25%, on top of the prevailing foreign exchange rate determined by respective card associations |
Important Notes - Foreign currency transaction fees are applicable to all foreign currency transactions, including purchases, refunds and reversals.
- Foreign currency transactions fees are applied on the converted SGD amount at the time of processing.
- Refund and reversal amounts may differ from the original transaction amount due to exchange rate fluctuations and the applicable administrative fees charged by the respective card associations and the Bank, at the time of processing of the refund / reversal transaction.
For more information on Foreign Currency transaction fees, please click here. |
Dynamic Currency Conversion Fee | Dynamic Currency Conversion (DCC) - DCC is a service offered by some overseas merchants or websites that allows your purchase to be converted into Singapore Dollars (SGD) at the point of payment
- If your card transaction is converted to SGD via DCC, you acknowledge that the exchange rate applied is determined by the merchant or their DCC service provider.
- The exchange rate determined by the merchant or their DCC service provider may differ from prevailing foreign exchange rates.
Applicable DCC Fees
All DCC transactions (including purchases, refunds and reversals) are subject to the following fees on the converted SGD amount: Dynamic Currency Conversion (DCC)
Transaction Fees | Mastercard/Visa Credit Cards |
|---|
Administrative fee charged by respective card associations | 1.00% | Administrative fee charged by bank | - | Total administrative fee | 1.00% |
Important Notes - DCC transaction fees are applicable to all DCC transactions, including purchases, refunds and reversals.
- DCC transaction fees are applied on the converted SGD amount at the time of processing.
- Refund and reversal amounts may differ from the original transaction amount due to exchange rate fluctuations and applicable administrative fees charged by the respective card associations, at the time of processing of the refund / reversal transaction.
For more information on DCC fees, please click here. |
Singapore dollar transactions processed outside Singapore | All card transactions processed outside Singapore but charged in Singapore dollar (i.e. without any currency conversion) (including refunds and reversals) will be subject to an administrative fee of 1% by Visa/MasterCard, which shall be payable by you and debited from your Card account. This includes but is not limited to any card transaction in Singapore dollars on overseas-based websites and mobile applications. |
Payment Hierarchy | Payment made to your account shall be applied to settle the billed outstanding balances that attract the highest interest first, in the order of outstanding interest, fees and followed by the outstanding principal. |
Lost/Stolen Card Liability | Limited to S$100 only if : - you have immediately notified us of the loss, theft or unauthorised disclosure;
- you assist us in the recovery of the unauthorised charges incurred;
- you furnish us with a police report accompanied by written confirmation of the loss, theft or unauthorised disclosure and any other information that we may require; and
- we are satisfied that such loss, theft or unauthorised disclosure is not due to your negligence or default.
You shall not be liable for any transactions carried out after we have been notified of the loss, theft or disclosure. |
Other Charges | In addition to the above, you shall also be responsible where applicable for the following charges including but not limited to: - Processing fee for returned GIRO or dishonoured cheques
dishonoured cheque: S$20
returned GIRO/direct debit authorisation: S$30;
- Retrieval service fee (inclusive of GST)
sales draft: S$5.4 per copy
monthly statement (beyond the current 3 months): S$5.4 per copy
- Overlimit fee
overlimit fee: S$40 if the total outstanding balance on your account exceeds the credit limit at any time.
- Administrative fee for termination of DBS Instalment Payment Plan
an administrative fee of S$150 if the Plan is terminated (whether arising from the termination of your Card Account or otherwise) or if you make a prepayment of any amount under the Plan.
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