CARDS & PAYMENTS | Staff Reporter, Singapore

ICBC Singapore unveils combination dual currency card for USD, SGD customer accounts

Its the first in Singapore.

Industrial and Commercial Bank of China Singapore (ICBC) has announced the launch of the ICBC VISA USD/SGD Dual Currency Credit Card, the first dual currency card in Singapore to combine both USD and SGD customer accounts in one credit card.

According to a release from ICBC, the move marks another milestone for ICBC Singapore in its retail banking services, following its launch of Singapore’s first RMB/SGD dual currency credit card in 2011.

The combination of both USD and SGD customer accounts in the ICBC VISA USD/SGD Dual Currency Credit Card will pave the way with both flexibility and lower costs for customers.

Cardholders can now choose to make payments either in USD or SGD, as well as enjoy transactions free of administrative fees when making their purchases in USD, be it online or physical, such as the usage in America, or make purchases online settled by USD.

Here's more from ICBC:

To facilitate customer convenience with account checking and bill payment, ICBC Singapore has implemented various services island-wide. Cardholders can look forward to easy mobile access regarding their account status, either through a supporting Internet banking platform or a convenient mobile banking app.

Payment of credit card bills will also be a hassle-free process, with payment avenues available in the forms of an automatic bill payment service, internet banking, AXS stations or cheque payment.

General Manager of ICBC Singapore, Mr Zhang Weiwu, said, “At ICBC, we are constantly striving to improve our financial services to focus on our customers and to create more value for them through our services. As the first in Singapore to combine USD and SGD accounts in one, the ICBC VISA USD/SGD Dual Currency Credit Card will remove administrative fees for all USD transactions, thus easing the additional costs that customers tend to bear, which can be as high as 2.5%.”

In conjunction with the launch of the ICBC VISA USD/SGD Dual Currency Credit Card, ICBC Singapore branch will be launching a series of promotions, including cashbacks on every new application and activation, and additional rewards for online applicants.

Interested members of the public may enquire with an ICBC advisor at any of its retail branches in Singapore located at Raffles, Orchard, Chinatown, Paya Lebar and Jurong East, or visit ICBC’s website for more information.

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