Debit vs credit card in Singapore: What you pay, what shops pay

No. Banks set their own card interest. DBS, OCBC and UOB charge about 27.8 percent a year, or 30.8 percent after a missed minimum.

• The law MAS says it does not propose a cap, that rates are set commercially, and that it relies on disclosure and borrowing limits instead.
• Moneylenders Licensed moneylenders may charge at most 4 percent a month, or 48 percent a year, and a late fee of at most SGD 60 a month. Banks are excluded because MAS regulates them.
• The banks DBS and UOB charge 27.8 percent and OCBC 27.78 percent, from the purchase date. All three charge SGD 100 and add 3% to the rate, making it 30.8 percent, after a missed minimum.
• What the law does require A cap on how much you can borrow, a bill that shows the charges and how long the minimum takes, and card suspension when debt passes set limits (card regulations).

Nobody publishes the share of cardholders in debt. Balances carried over unpaid reached SGD 9.4 billion in 2025, the highest since the series began in 2014.

• The total SingStat's table shows SGD 9,400.2 million carried over unpaid in 2025, and SGD 519.8 million of bad debts written off.
• The cardholders The same table counts 6,135,494 principal cardholders. It counts credit and charge cards together.
• The average SGD 9.4 billion over 6.1 million principal cardholders is about SGD 1,500 each. That is a simple average, not what a borrower owes, since not every cardholder carries a balance.

It avoids the late fee, but not the interest. The rest of the balance still charges about 27.8 percent a year.

• Three outcomes Pay in full and there is no interest. Pay only the minimum and there is no late fee, but interest runs on the rest. Miss it and the late fee and the higher rate apply.
• The rule DBS sets the minimum at SGD 50, or 3 percent of the statement balance if that is more, plus anything overdue. It is an amount to pay, not an interest rate.
• The interest Interest runs daily at 27.8 percent from each purchase date until you pay in full, even when every minimum is on time.
• The example On SGD 1,000 at SGD 50 a month, about 27 to 28 months and SGD 300 to 360 of interest, a range because banks do not say whether the rate is nominal or effective.
• Miss it DBS, OCBC and UOB each charge SGD 100 and add 3% to the rate, making it 30.8 percent, until the minimum is paid on time for two or three months.

Many do, around SGD 196.20 a year. It is often waived at first, then needs enough spend or points.

• DBS SGD 196.20 on most cards, with year one waived. Some cards waive later years at SGD 15,000 to 60,000 of spend, which DBS ends on several cards from 1 August 2026.
• OCBC The 365 card charges SGD 196.20, lists two years waived, and waives any year at SGD 10,000 of spend. The two-year waiver also sits in a welcome offer needing SGD 800 of spend in 60 days, to 31 December 2026.
• UOB SGD 196.20 on the Preferred Visa, year one waived. The fee table mostly waives later years for redeemed points, and lists none on some cards, such as the One Card. EVOL and Singtel list no fee.
• On debit The matching cost sits on the account. DBS Multiplier charges SGD 5 a month under an average SGD 3,000, OCBC 360 SGD 2 under SGD 3,000 and UOB One SGD 5 under SGD 1,000.

From a fee on every card payment, plus interest and fees on credit. Debit has no interest, so the fee is nearly all it earns.

• Debit The RBA found debit interchange averaging about 6 cents against about 7 cents of cost per payment in Australia. Singapore does not publish it.
• Credit The RBA's figures put credit interchange at 0.47 percent against 0.20 percent in costs, and credit earns interest and fees from the holder as well.
• The split In Australia interchange is about 30 percent of the shop's debit fee and scheme fees 21.5 percent, so the shop's bank and processor keep about 48.5 percent. On credit the card bank takes about 65 percent.
• Costs Rewards cost the bank too, up to SGD 160 a month on OCBC 365 against SGD 20 on DBS Visa Debit, and the bank carries fraud and dispute losses.

Not by default. The ABS code limits your loss to SGD 100 on both, then each bank's debit terms add conditions.

• One cap SGD 100 for a lost or stolen card, the same for debit and credit under the ABS code.
• The cash On debit the money has already left the account, though ABS says banks usually give a temporary credit for some unauthorised online payments. On credit it sits on a bill that is not yet due.
• The fine print UOB limits its cap to in-person use of a lost or stolen card. DBS also leaves you liable for contactless and online payments, and OCBC states no cap.

Yes for Visa and Mastercard debit. NETS PIN debit is not named in the dispute guidance.

• Deadline ABS says most banks want the dispute form within 14 days of the statement date.
• How long About 4 weeks for a simple case and about 12 for a complex one.
• NETS Not stated. The guidance covers six international card brands, and NETS is not one.
• Prepaid YouTrip says a chargeback takes 9 to 12 weeks. Wise says up to 30 business days to look, then 30 to 45 days for the merchant.

A prepaid card spends money you loaded in advance. A debit card spends money in your bank account.

• Where it sits With the e-money issuer, which must safeguard the float.
• Insurance MAS says e-money is not a bank deposit and is not covered by deposit insurance.
• Fraud terms YouTrip's terms say it is not responsible for losses from a lost or stolen card. Wise's card supplement states no cap in the clauses read.
• Getting one YouTrip lets you register in the app with MyInfo or identity documents and delivers a free card. Wise lists ordering a card as free.
• Disputes Both file a chargeback for you. YouTrip says it can take 9 to 12 weeks, and neither describes a temporary credit.

The bank holds the amount against the available balance until the sale clears or the hold lapses.

• The hold UOB's agreement says it may hold the amount, and the held amount cannot be used.
• How long DBS's agreement says up to 10 days. UOB's agreement leaves it to UOB. OCBC's pages give no period.
• The amount Visa allows a final amount up to 15 percent above the authorised one at lodging, and up to 20 percent at taxis, bars and salons.

Credit Bureau Singapore names credit card accounts in its report. Its pages do not mention debit cards.

• What it holds The bureau says its report is a record of credit payment history from banks and major financial institutions.
• Debit Not mentioned by the bureau. The Credit Bureau Act defines a credit facility as an advance, loan or similar access to funds.
• The score The bureau's score runs from 1000 to 2000 and uses 12 months of repayment conduct, utilisation and enquiries.

On one NETS plan, yes. In 2013 the competition regulator found most shops' banks charged one rate for both.

• Who pays A shop cannot add a card surcharge under its DBS or NETS terms, so the fee is already in the sticker price for every shopper, cash included. That is an inference from the terms, not a measured figure.
• NETS plan 0.8 percent on NETS debit, against up to 3.5 percent for credit cards on the same plan (UOB).
• 2013 finding CCS found that merchant fees in Singapore generally do not vary by card type, and that most acquirers offer a blended rate. That finding dates from 2013.
• Interchange Not published for Singapore.
• Elsewhere The EU and the UK cap debit at 0.2 percent and credit at 0.3 percent (EU, UK). Malaysia's Visa rates run to 0.27 percent on debit and 0.40 to 0.55 percent on credit (Visa).

Not under the DBS and NETS card contracts, so the card cost is built into the sticker price.

• The contracts DBS allows no extra charge or condition for accepting a card, and NETS bars surcharges and passing its fees to cardholders.
• Visa Visa's rules bar any added amount unless a law requires merchants to be allowed to (rule 1.5.5.2).
• The law No Singapore law was found that allows or bans a card surcharge. MAS says even the PayNow ban is an industry rule.
• Who pays Because the shop cannot add the fee, it recovers it in its prices, so cash and PayNow shoppers pay a share too. That is an inference from these terms, not a measured figure.

21 at DBS, OCBC and UOB. The card regulations set no minimum age, so it is the banks' rule.

• The law The card regulations set an income floor, with ages in them only for the over 55 thresholds. They name no minimum age.
• The banks DBS takes main cardholders from 21 to 75, and OCBC and UOB from 21.
• Debit OCBC's debit card is open from age 16, with no annual income required.
• Elsewhere Malaysia's card rules set 21 as well, and in the United States anyone under 21 needs a cosigner or means of their own.

Yes. NETS signs shops up for Visa and Mastercard credit cards as well as its own PIN debit.

• The acquirer NETS signed with Mastercard and Visa in March 2023 to sign up shops directly, and already did for AMEX, Diners, Discover, JCB and UnionPay.
• The add-on On one UOB plan a NETS terminal costs SGD 38 a month, and taking credit cards costs SGD 12 a month more, at 0.8% to 3.5% of each sale.
• Paid The same plan pays the shop the next day for NETS debit and three days later for credit cards.
• Not the same route A credit card on a NETS terminal follows the credit route in the diagram. The NETS PIN debit route is the NETS scheme itself, for debit and ATM cards.

About 23 to 25 days from the statement date at OCBC and DBS. UOB's sheet does not say.

• DBS terms 25 days from the date of the statement of account.
• OCBC 23 calendar days from the statement date, if no balance is carried forward.
• DBS article About 20 to 25 days from your date of spend.
• The catch Interest counts from each purchase date once the full balance is not paid (DBS, OCBC).