Key takeaways
- Local withdrawals in Singapore are usually free at your own bank’s ATMs. Using another bank’s ATM may be free or carry a small fee depending on your account and card.
- Overseas withdrawals can involve several costs at once: your bank’s cash withdrawal fee, a fee from the foreign ATM operator, card-network costs, and currency conversion.
- Choosing the local currency on the ATM (instead of “charge in SGD”) generally helps you avoid dynamic currency conversion (DCC) markups.
- Check and enable overseas usage on your card and set sensible withdrawal limits before you travel.
How ATM fees are structured
ATM withdrawal pricing is a stack of small components. You may see one or more of these on a receipt or statement, depending on where and how you withdraw:
- Issuing bank fee – a fixed amount or percentage set by your Singapore bank for cash withdrawals, especially outside Singapore.
- Foreign ATM operator fee – a surcharge displayed on the machine before you confirm a withdrawal overseas.
- Card-network fee – Visa, Mastercard, UnionPay, or other network fees, often embedded in the exchange rate or itemised by your bank.
- Currency conversion – if the withdrawal is not in SGD, your transaction is converted using network or bank rates. Selecting “charge in SGD” at a foreign ATM triggers dynamic currency conversion (DCC), where the ATM sets the rate.
Local withdrawals in Singapore
For day-to-day use in Singapore, withdrawing from your own bank’s ATM network is typically the most cost-effective. Many current and savings accounts include fee-free local withdrawals at in-network machines. If you use another bank’s machine domestically, fees—if any—depend on your specific account, card type, and the ATM network arrangement between banks. Your bank’s fee schedule explains the details for your product.
Tip: Use your bank’s mobile app or website to locate in-network ATMs near you. This reduces the chances of interbank fees and helps you access services like cardless withdrawals where supported.
Overseas withdrawals (outside Singapore)
Withdrawing cash overseas is convenient, but costs vary by country and ATM operator. The machine should disclose any surcharge before you proceed. In addition, your Singapore bank may charge a separate overseas cash withdrawal fee, and the card network will convert the amount to SGD if the withdrawal currency is not SGD.
How to keep overseas costs predictable
- Always choose the local currency when the ATM offers a choice. This avoids DCC, which typically uses a less favourable exchange rate.
- Check your bank’s overseas ATM fee and daily withdrawal limit before travelling. Enable overseas usage for your card if required.
- Batch your withdrawals to fewer, larger transactions if the ATM operator charges a flat fee per withdrawal.
- Use ATMs at bank branches where possible. Branch ATMs are more likely to be transparent with fees and display clear prompts.
- Keep the receipt in case you need to compare the converted SGD amount on your statement later.
Local vs. overseas: quick comparison
| Feature | Local (Singapore) | Overseas |
|---|---|---|
| ATM availability | Extensive; dense networks in malls, transit nodes, and branches | Varies by country; major cities have wide coverage |
| Issuer (bank) fee | Often S$0 at your bank’s own ATMs; interbank fees depend on product | Common; set by your Singapore bank for overseas cash withdrawals |
| Foreign operator fee | Uncommon domestically | Common; amount shown on the ATM before you confirm |
| Exchange rate | Not applicable when withdrawing SGD | Network or bank rate if you choose local currency; ATM’s DCC rate if you choose “charge in SGD” |
| Best practice | Use your bank’s ATMs for clarity and convenience | Choose local currency, check fees upfront, and withdraw in reasonable amounts |
Multi-currency accounts and travel cards
Some Singapore banks offer multi-currency accounts or debit cards that let you hold foreign currencies and withdraw overseas directly from those balances. This can reduce conversion costs when you plan ahead and top up at preferred times. Features and fees differ by product, so review your bank’s product disclosure and fee schedule to understand how withdrawals, conversion, and card-network charges are handled.
Security and practical checks before travel
- Enable overseas ATM/cash withdrawal in your banking app if it’s off by default.
- Confirm your daily cash limit and adjust if needed.
- Set up transaction alerts for peace of mind.
- Know your card’s PIN format requirements. Some ATMs expect 4 digits; if yours is 6 digits, it usually still works—enter your full PIN as normal unless your bank advises otherwise.
- Add a backup card and keep emergency contact numbers for card blocking.
Frequently asked questions
Will I see the exact fee before I withdraw overseas?
The foreign ATM should display its own surcharge before you confirm. Your issuing bank’s fee and the final exchange rate usually appear later on your statement or in your banking app.
Is it better to be charged in SGD overseas?
Generally, choosing the local currency yields a more competitive network rate. Selecting “charge in SGD” triggers DCC, which often uses a higher markup.
Can I avoid all fees?
You can minimise costs by using in-network ATMs locally, choosing local currency abroad, and using products designed for overseas spending. Some accounts waive certain fees based on your relationship with the bank; check your product terms.
The bottom line
Local withdrawals at your own bank’s ATMs in Singapore are usually straightforward and low-cost. Overseas, be mindful of the combined effect of your bank’s fee, any foreign ATM surcharge, and currency conversion. A few simple habits—choosing local currency, checking fee schedules in advance, and using branch-located ATMs—go a long way toward keeping your cash access convenient and cost-efficient.
Important
Fees, limits, and card settings can change. For the most current details about your account or card, always verify on your bank’s official website or app before withdrawing—especially when travelling.
