How can I avoid the Currency Conversion Fee for Overseas ATM Withdrawals?

When withdrawing cash, some overseas ATMs may offer you the choice of being charged in SGD or being charged in foreign currency (e.g., MYR in Malaysia, THB in Thailand, IDR in Indonesia, etc.). Select “Continue without Conversion”, which is the option to withdraw in that foreign country’s currency to avoid the currency conversion fee or foreign dynamic currency conversion (DCC) charges.

When you choose to withdraw in SGD, the foreign currency conversion rate is determined by the foreign ATM provider, which is generally much less favourable than MariBank card exchange rates for foreign currency withdrawals. You will also incur a 1% Currency Conversion Fee levied by Mastercard and passed through by MariBank.