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Paying overseas credit card using DBS

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aki01
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Paying overseas credit card using DBS

Post by aki01 » Thu, 30 Jun 2016 11:54 am

Hi,

I have a US credit card and DBS is my local account here. They have a service where you can pay an overseas credit card (visa) via transfer from the DBS account. Im just curious if anyone has availed of this and if there is anything I should be aware of. I have a multi-currency account so would change SGD to USD before transferring.
thanks

ajk

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ecureilx
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Re: Paying overseas credit card using DBS

Post by ecureilx » Thu, 30 Jun 2016 7:54 pm

aki01 wrote:Hi,

I have a US credit card and DBS is my local account here. They have a service where you can pay an overseas credit card (visa) via transfer from the DBS account. Im just curious if anyone has availed of this and if there is anything I should be aware of. I have a multi-currency account so would change SGD to USD before transferring.
thanks

ajk
It works for me. Though I pay to a local Card so there is no currency conversion fee or anything. And it's instantaneous

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Re: Paying overseas credit card using DBS

Post by sundaymorningstaple » Thu, 30 Jun 2016 8:43 pm

Not the same thing squirrel. I have a US VISA & AMEX card but I maintain a US checking account which I top up occasionally in order to cover my payments on the rare occasion that I do use them. I also have a couple of local VISA Cards and a Diners Club card which takes care of my here. I've had my US cards since 1979, so I'm reluctant to give them up (I love the member since date!). My local cards all date from 1984. Except for my Corporate VISA card which is around 10 years old.

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ecureilx
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Re: Paying overseas credit card using DBS

Post by ecureilx » Thu, 30 Jun 2016 9:03 pm

sundaymorningstaple wrote:Not the same thing squirrel. I have a US VISA & AMEX card but I maintain a US checking account which I top up occasionally in order to cover my payments on the rare occasion that I do use them. I also have a couple of local VISA Cards and a Diners Club card which takes care of my here. I've had my US cards since 1979, so I'm reluctant to give them up (I love the member since date!). My local cards all date from 1984. Except for my Corporate VISA card which is around 10 years old.
I am sure OP is referring the DBS 'pay overseas credit card' option. Not to a Checking account that pays the card. You key in the VISA or Master card # and pay to it directly.

https://www.dbs.com.sg/personal/cards/c ... edit-cards

Is that the same ?

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Re: Paying overseas credit card using DBS

Post by aki01 » Thu, 30 Jun 2016 9:48 pm

yep, to give you some background - i want to keep my US credit cards.(one is with Marriott, the other with United Airlines). My funds in my US account are pretty low. The account is with a credit union so its not a simple process to transfer funds across from Singapore. However, DBS apparently has a facility whereby you can pay a foreign Visa credit card (or a Visa debit card tied to a foreign bank account) by doing a transfer from your local DBS account. It looks straightforward, I was just curious if any expats have used this.

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Re: Paying overseas credit card using DBS

Post by ecureilx » Thu, 30 Jun 2016 9:59 pm

aki01 wrote:yep, to give you some background - i want to keep my US credit cards.(one is with Marriott, the other with United Airlines). My funds in my US account are pretty low. The account is with a credit union so its not a simple process to transfer funds across from Singapore. However, DBS apparently has a facility whereby you can pay a foreign Visa credit card (or a Visa debit card tied to a foreign bank account) by doing a transfer from your local DBS account. It looks straightforward, I was just curious if any expats have used this.
Ok, then this one is right !

https://www.dbs.com.sg/personal/cards/c ... edit-cards

As I said, I have paid to my local VISA, no issues, and the balance reflects accordingly.

There 'may' be a service fee levied by your bank, you may check that. DBS fee is NIL

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Re: Paying overseas credit card using DBS

Post by BBCWatcher » Thu, 30 Jun 2016 10:40 pm

The page you're linking to describes paying another Singapore bank's credit card bill.

DBS offers an option to pay into overseas Visa card accounts (credit or debit), but that facility is not available for U.S. issued Visa cards.

Sorry, you'll have to find a low cost way to transmit funds to your U.S. credit union account if you want to replenish them to pay your U.S. credit card bills. Charles Schwab, World First, and Interactive Brokers are among the options available.

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Re: Paying overseas credit card using DBS

Post by Brah » Fri, 01 Jul 2016 12:23 am

Good thread, I was thinking about something similar
Ape Shall Not Kill Ape.

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Re: Paying overseas credit card using DBS

Post by BBCWatcher » Fri, 01 Jul 2016 8:55 am

DBS used to offer a service called "MasterCard MoneySend" that was substantially similar to the service still offered for Visa cards, and with the same country restrictions (U.S. exclusion). However, that service was shut down on May 31, 2016.

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Re: Paying overseas credit card using DBS

Post by Strong Eagle » Fri, 01 Jul 2016 10:52 am

What are DBS exchange rates like for this credit card pay service?

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Re: Paying overseas credit card using DBS

Post by BBCWatcher » Fri, 01 Jul 2016 3:10 pm

It'll vary of course. DBS displays both the service fee and exchange rate before you send money to a recipient's Visa credit card (or Visa debit card-linked bank account). The service fee per transaction ranges from S$5 to S$10 depending on the recipient's currency. The exchange rate presumably won't be terrific, although it might not be awful either.

For paying a local, Singapore-issued credit card there is no fee.

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