5 best no-fee debit cards in Singapore compared
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While most debit cards in Singapore come with no monthly fees, they often have other fees which you won’t notice until you’ve already swiped your card.
For example, most Singaporean banks charge a 3%+ currency conversion fee, which can become costly if you frequently send money overseas. Others charge fees just to open an account, or even to get a card in the first place.
To help you find the most cost-effective debit card for you, this article compares five no-fee debit cards available in Singapore, including their features, eligibility criteria and pricing structures.
We also introduce you to our World Card, a multi-currency debit card for businesses that lets you spend in 16 major currencies with no FX or monthly maintenance fees.
You can create up to 25 cards (including 10 physical cards) with WorldFirst, which you can then use to earn up to 1.2% uncapped cashback on all spending.
It’s completely free to apply for a World Card, and you can do so by signing up for our World Account – a multi-currency account for businesses that’s also free to open and maintain.
We cover:
- WorldFirst’s World Card: The no-fee debit card for international businesses
- How to apply for a no-fee World Card
- 4 alternative no-fee debit cards in Singapore compared:
- UOB One Debit Card
- OCBC Debit Card
- HSBC Debit Card
- DBS Visa Debit Card
Ready to start spending fee-free with WorldFirst? Sign up for a World Account today.
World Card: The no-fee debit card for international businesses
WorldFirst is a digital payments platform that helps Singaporeans send payments in 150+ currencies to over 210+ destinations worldwide. Since 2004, over 1.5 million customers have sent more than US$500 billion across the world through WorldFirst and our partner brands.
Our World Cards have no card opening fees, maintenance fees, transaction fees or top-up fees, and you’re able to spend in 16 foreign currencies without paying any FX fees. You can create up to 25 cards – including 10 physical cards – all connected to your account.
The World Account is an all-in-one multi-currency account that lets you hold and manage funds in 20+ currencies. It’s also free to open and maintain.
Here’s what you can do once you sign up for a World Account and create a no-fee card:
Create up to 25 World Cards entirely online and pay zero FX fees in 16 major currencies
WorldFirst allows you to create and hold up to 25 cards (including 10 physical cards), which you can use to start spending anywhere that Mastercard is accepted. The World Card has no:
- Monthly fees
- Annual fees
- Hidden fees
- Sign-up fees
- Top-up fees
- Minimum spend requirements
- FX fees when you spend in 16 major currencies
FX fees only apply when you don’t hold a sufficient account balance in the payment currency, but even then our pricing is low and transparent.
For currency conversions, WorldFirst uses the mid-market exchange rate, with a 0.5% markup for major currencies and a 0.75% markup for all other currencies.
Use our currency converter to see live foreign exchange rates and read our pricing guide to understand any fees that do apply.
Read more: How to send money abroad (+ how to avoid hidden costs)
Earn uncapped 1.2% cashback on all spending
With a World Card, you can earn up to 1.2% cashback every time you make a purchase, whether it’s a business or personal expense.
Unlike other providers or banks, we don’t limit you to certain vendors or spending categories. We also don’t limit your earning potential, so while most cards will cap cashback at SG$30 per month, with WorldFirst you can earn uncapped cashback.
You don’t even need to meet a certain monthly spend in order to be eligible. As long as you meet our cashback terms and conditions, your cash rebate will be credited in USD into your World Account on the last calendar day of the following month.
Please note: In order to receive cashback, your World Account must be valid (open and functioning) and must not be suspended, cancelled or terminated.
Read more: How to choose a virtual debit card for international payments
Control your spending with straightforward card management and real-time transactions
From your World Account dashboard, you can create and assign cards to specific expenses. For example, you might create one virtual card for digital ads and another for supplier payments.
You’re also able to set daily, monthly or per-transaction spending limits for each card. This way, your team can spend what they need without going over budget.
You can even set up standing orders on your cards, which makes it much easier to stick to budgets and see exactly where your money is going.
All spending is tracked in real time and automatically categorised into one centralised dashboard. You also have the option of syncing your World Account with accounting tools like Xero and NetSuite to help reduce time spent on manual reconciliation.
Read more: Business virtual cards: 4 options for smarter expense management
Benefit from advanced card security measures to keep your funds safe
Worldfirst is licensed and regulated by the Monetary Authority of Singapore (MAS).
Each of our World Cards comes with its own unique card number, expiry date and CVV, separate from your main account details. This means if a card – whether physical or virtual – is ever compromised, your exposure is limited to that single card and not your entire account.
Your World Card also supports 3D Secure (3DS) authentication, a secure customer verification solution that prevents card fraud in online transactions. It requires the cardholder to receive a 6-digit verification code via SMS or email and enter it when paying online.
We also provide advanced security measures like 2FA to protect against fraud, though you’ll always have the option of freezing, deleting and reissuing your cards with new details instantly.
Read more: Best multi-currency card: Top 5 options compared (+ how to choose)
How to apply for a no-fee World Card
To create a World Card with WorldFirst, you’ll first need to sign up for our World Account. Here’s how to create an account for free:
- Head to our World Account signup portal and enter your personal details
- Fill in your account information and verify your identity with a passport or drivers licence
- Upload your business documents, including shareholder IDs, company ownership documents, proof of address as well as your source of documents.
- Once you click ‘Submit’, you’ll receive an acceptance email (usually within 48 hours)
Then, to create a virtual World Card:
- Log in to the WorldFirst portal and click on ‘World Card’, then select ‘Get a World Card for free now’
- Select ‘Virtual card’, enter a card nickname and choose the cardholder
- After you click ‘Apply’, your card will be created instantly (for free) and you can repeat this process to create up to 25 virtual cards
Read more: How do I apply for a World Card?
4 alternative no-fee debit cards in Singapore compared
If WorldFirst’s World Card isn’t the right option for you, here’s a comparison of four no-fee debit card alternatives:
| Best for | Multi-currency support | Pricing | Card type | Cashback | Eligibility | |
|---|---|---|---|---|---|---|
| WorldFirst’s World Card | SMEs that have significant overseas spend and want to earn uncapped cashback | Spend in 150+ currencies | No annual fees, setup fees, hidden fees or minimum spend requirements. Pay in 16 major currencies with no FX fees or annual fees. |
Create up to 25 cards including 10 physical cards. | Uncapped 1.2% cashback on all spending | Apply from anywhere in the world. Once you have a World Account, you can easily apply for the World Card. It’s free to open and maintain both the World Card and the World Account. |
| UOB One Debit Card1 | Individuals looking for high cashback that also have a high monthly spend | When linked to the UOB FX+ account, the card allows you to hold, spend and convert up to 11 currencies with no 0% FX fees1a | No annual fee for the first 3 years, after that it’s SG$18.34 yearly | At least one physical and one virtual card per bank account | Up to 4% cashback capped at SG$30 per month, with a minimum monthly spend of S$300 | Singaporean citizens, permanent residents and foreigners can apply for the card. Must be over 16 and hold a UOB One Savings/ Current Account. |
| OCBC Debit Card2 | Individuals that spend frequently and want cashback on expenses (like dining, groceries and transport) | Link your OCBC Debit Card to a Multi-Currency Global Savings Account to avoid FX fees in 10 currencies | No annual fee, though there is a 3.25% foreign currency transaction fee and a 2.80% conversion fee if you aren’t linked to a Multi- Currency Global Savings account. | Unclear from website | Unlimited 1% cashback in certain categories | Singaporean citizens, permanent residents and foreigners can apply for the card. Must be over 16 years old. |
| HSBC Debit Card3 | Existing HSBC SG customers seeking a secure, everyday card for local payments and convenient access to local/overseas HSBC ATMs | Unclear from website | While there’s no annual fee, it costs SG$8 per transaction to send payments though the VISA/ MasterCard/ PLUS/ Cirrus Networks. FX fees are 2.25% of the amount converted.3a |
Unclear from website | Not available for this card | Singaporean citizens, permanent residents and foreigners can apply for the card. You’re required to maintain a transactional account (Flexi, Savings, Current, Premier Account) Must be over 16 for savings accounts and over 18 for current accounts. |
| DBS Visa Debit Card4 | Individuals that spend frequently and want to earn high cashback | Transact in 11 currencies | No annual fee. Pay no FX fees when making payments in 11 currencies. Outside of these currencies, FX charges range from 3% to 3.25%.4a |
At least one physical and one virtual card per account | Up to 4% cashback for selected vendors | Must be aged 16+. You’ll need to have a POSB/ DBS Savings or Current account to apply for the card. |
Disclaimer: All information presented in this table has been sourced from provider websites and is accurate at the time of writing (April 2026). However, providers may update their offerings, and details may change over time.
1. UOB One Debit Card
The UOB One Debit Card is best for individuals who seek high cashback and have a high monthly spend. It comes with an annual fee waiver for the first three years, after which it costs SG$18.34 per year to maintain the account.
You can earn up to 4% cashback when you spend with a physical card at certain merchants like Grab and Shopee. Or, if you make contactless payments (using eWallets like Apple Pay, Google Pay or Samsung Pay) you can earn 1% back. Cashback is capped at S$30 per month and requires a minimum monthly spend of S$300.
Card transactions in SGD within Singapore come with no fees, but SGD transactions processed overseas are charged an International Processing Fee of 2.8% of the transaction amount. Overseas ATM withdrawals are also subject to a 2.5% administrative fee, plus an additional International ATM Withdrawal fee of S$5 per transaction.
You can track your spending and expense habits in the UOB mobile app, where you can also access your monthly card eStatements at any time.
2. OCBC Debit Card
The OCBC Debit Card is best for individuals in Singapore who spend at least SG$500 a month and want to earn unlimited 1% cashback on everyday spending (like transport, dining or buying groceries). This card comes with no annual fees.
With the OCBC Debit card, you’ll need to pay a 3.25% foreign currency transaction fee and a 2.80% FX conversion fee any time you spend in foreign currency. However, if you link your card to an OCBC Multi-Currency Global Savings Account, you can make online transactions in 10 currencies without any FX charges.
There’s no transaction fee when using OCBC ATMs overseas, but withdrawals from non-OCBC ATMs cost 3% of the transaction amount, subject to a minimum fee of SG$5 and a maximum fee of SG$20. Through the OCBC Digital app, you can also enable ATM withdrawals, lock or unlock your card and order a replacement card.
Read more: What’s the best way to do an international money transfer?
3. HSBC Debit Card
The HSBC Debit Card³ is best suited to existing HSBC banking customers who want convenient access to local and overseas ATMs. You can withdraw cash from more than 2.3 million ATMs worldwide, with withdrawals at all HSBC ATMs being completely free.
The card comes with daily limits of up to SG$25,000 for VISA/NETS transactions and up to SG$10,000 for cash withdrawals. You can also view your debit card transactions in real time through the HSBC Singapore app.
Spending through the VISA Plus, MasterCard, or Cirrus networks costs SG$8 per transaction. Additionally, if you spend in currencies other than SGD or those supported by the HSBC Everyday Global account, you’ll be charged a foreign currency transaction fee of 2.25% of the transaction amount.3a
Read more: What’s the best prepaid card for business expenses in Singapore? 4 options compared
4. DBS Visa Debit Card
The DBS Visa Debit Card4 is best for individuals that spend more than S$500 monthly and want to earn up to 4% cashback on online shopping, food delivery and transportation.
Cashback rates for this account are variable. For example, you can earn up to 4% when you spend on food delivery, 3% when you spend on local transport, and 2% when you spend in foreign currency (including online purchases). There’s also a sign up offer for new DBS/POSB Debit Card members where you can apply for any two DBS/POSB Debit Cards and receive S$68 in cashback.
There’s no annual fee for this account, and if you link your DBS Visa Debit Card to a DBS multi-currency account, you won’t pay any foreign exchange fees in 11 foreign currencies either.
The default daily limits set on your NETS Transactions, ATM Withdrawals and Debit Card Spend Transactions are set at SG$5000, SG$3000 and SG$2000 respectively.
Read more: Best corporate cards for small businesses in Singapore: 5 options compared
Choose WorldFirst’s World Card and start spending with no FX fees today
In this article, we’ve compared five of the best no/low fee debit cards available in Singapore.
We’ve also shown why WorldFirst’s World Card is the best choice for businesses looking to make frequent, cost-effective transfers abroad. For example, with World Card you can:
- Create up to 25 cards for free, including 10 physical cards (one-off postage fee applies)
- Pay zero FX fees when spending in 16 major currencies
- Pay no account fees, hidden fees or sign up fees for any of your cards
- Create, delete, freeze or reissue cards instantly
- Benefit from advanced security measures like 2FA
Ready to start spending fee-free with WorldFirst? Sign up for a World Account today.
Sources:
- https://www.uob.com.sg/personal/cards/cashback/one-debit-card.page
- https://www.ocbc.com/personal-banking/cards/ocbc-debit-card
- https://www.hsbc.com.sg/debit-card/
- https://www.dbs.com.sg/personal/cards/debit-cards/dbs-visa-debit
https://www.dbs.com.sg/personal/support/card-charges-and-fees-overseas-transaction-fees.html
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
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