AndyWillie wrote:Anyone had experience with taking money out in another country with POSB
atm card? What are the fees like and the exchange rate..good or not?
I've used my POSB card in Istanbul. Bank charge was S$5 I think... Here, I looted these info from POSB, hope they help...
1. There's a charge of S$5 per cash withdrawal on overseas Cirrus ATMs. You will enjoy a preferential flat service fee of S$2 if you use your Cirrus ATM Card at the ATMs of Bank Danamon (Indonesia), Bank of Central Asia (BCA, Indonesia), HDFC (India) and Bank of Philippines Island (Philippines).
2. There is no service fee for overseas purchases.
3. The amount withdrawn in US dollars shall be converted to Singapore dollars on the date of conversion. The amount withdrawn in foreign currency other than US Dollars will be converted into US dollars before being converted into Singapore dollars. All conversions shall be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by the respective card associations. The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation.
4. The amount withdrawn in foreign currency at overseas ATMs or purchases made in foreign currency at Maestro terminals are subject to a charge imposed by the respective card associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. An administrative fee of 2.0% of the foreign currency withdrawal or transaction amount for services provided or actions taken by us in relation to such foreign currency transactions shall be payable by you and debited to your Card Account.