As you prepare your holiday for this autumn and winter, do not forget your overseas withdrawal plan. You can be slammed with some hefty charges if you don’t prepare yourself for the situation by carrying a debit card that forfeits fees.
Regardless of how much you prepare ahead, you will always have to withdraw money in local currency when you are abroad.
You will never know when you will need cash, and it is essential to be prepared with a debit card that will not charge hefty fees.
If you have an account number in POSB Bank, you have to activate the POSB card for overseas use as they will disable your card by default.
Here is the step-by-step tutorial if you have no idea on how to activate POSB card for overseas withdrawal.
Activate POSB Cards for Overseas Withdrawal Using Internet Banking
- Log in to your POSB account via POSB internet banking.
- Click “Cards,” select “Activate card’s magnetic stripe for overseas use”
- Click the Card Account on the “My Card” option.
- Select “Update magnetic strip” click “Allow.”
- Select “period of use” click “set a start and date”
- Input the Start and End date.
- Tick the box at “Agreement,” click “Next” and verify your data and select “Submit”
Activate Overseas Withdrawal for POSB via SMS
You can also enable POSB cards through SMS by sending the format to 77767 when you plan to go aboard. Here is the tutorial on how to activate POSB card for overseas withdrawal.
With no end date: Enable [space] overseas [space] last 4 digits of card
With end date: Enable [space] overseas [space] last 4 digits of card [space] start date [space] end date
Note: Date format is in DDMMYYYY
For disable you can use this format:
Disable [space] overseas [space] Last 4 digits of Card
Enable Overseas Withdrawal for POSB via Digibank Mobile
You can also activate the function through the POSB mobile app that you can install on your gadget.
- Log in to digibank Mobile with your Touch / Face ID or digibank User ID and PIN.
- Click More, under Manage Cards & Loans select Enable/Disable Overseas Use.
- Choose the Card you wish to Enable/Disable for Overseas Use.
- Toggle Allow Overseas Use to change the status of your card’s overseas function* and click Next.
- Confirm the Details and click Activate/Deactivate.
Enable Overseas Withdrawal for POSB via Virtual Assistant
You can Enable/Disable your card for overseas use immediately using our Virtual Assistant.
Click for Enable
Click for Disable
Activate Overseas Withdrawal for POSB Using ATM
This step will work if you are using ATM in Singapore.
- Insert your POSB Debit Card to access your account
- Key in your PIN
- Press More Services
- Press Card’s Magnetic Stripe for Overseas Use
- Press Continue
- Amend status of the overseas function of your Card’s magnetic stripe to your preference
- Follow instructions on the ATM screen to complete Submission
Can I Use POSB Everyday Card in Overseas?
Suppose the magnetic stripe of your card for overseas use is deactivated. In that case, you can still use your card abroad at the terminals and ATMs that allow EMV chip cards.
How much is the Charge for POSB Overseas Withdrawal?
Cash withdrawals of foreign currency in other countries cost S$7 per withdrawal in the equivalent foreign currency.
However, if you use your Cirrus/Plus Card at DBS Taiwan and Hong Kong, and Westpac Group ATMs when you stay in Australia, there will be no charge of cash withdrawal.
Can I Withdraw Money from Debit Cards in Other Countries?
Yes, you can as long as your credit card or ATM has either PLUS or Visa logo, you can withdraw money at ATMs that are a part of the PLUS and Visa network.
Wonder how to find an ATM in the country that you are visiting to? Visa is available in more than 200 territories and countries around the globe.