For discerning travelers looking to make the most out of their journeys, DBS is modernizing the way customers manage their travel finances with its enhanced DBS Travel Wallet and innovative DBS Travel & Leisure Marketplace.
As travelers increasingly seek ways to optimize their travel budgets, DBS/POSB customers have been leveraging the bank’s comprehensive suite of offerings, including earning cashback on overseas spending, benefiting from attractive foreign currency exchange rates, and accessing exclusive deals on accommodations and flights via the DBS Travel & Leisure Marketplace.
In the first quarter of 2024, the volume of foreign currencies exchanged tripled compared to the same period in 2019, with a notable surge in interest in the Japanese Yen (JPY) driven by Japan’s popularity as a travel destination and the strength of the Singapore Dollar (SGD). DBS/POSB customers converted record volumes of SGD to JPY in the first quarter of 2024, tripling that of 2019.
DBS/POSB customers with multi-currency accounts can seamlessly link their DBS Visa Debit Card via digibank, enabling hassle-free online and offline transactions in foreign currencies while earning cashback. This convenient feature has witnessed a significant uptick in usage, with about 90% more spending on foreign currencies using the linked card in 2023 compared to the previous year.
To further empower customers in maximizing their travel budgets, DBS has introduced enhanced features of the DBS Travel Wallet, allowing DBS/POSB customers to:
- Earn an upsized 5% cashback on all overseas or online foreign currency spending via the DBS Visa Debit Card.
- Enjoy preferential exchange rates for Japanese Yen (JPY) in the month of June, enabling them to stretch their travel budget even further.
- Instantly exchange up to 11 foreign currencies with no foreign exchange fees, facilitating seamless spending during overseas trips or ATM withdrawals.
In addition to financial management, DBS/POSB customers are prioritizing security during their travels. Many are utilizing the Payment Controls feature in the digibank mobile app to set spending limits, manage card features, and temporarily lock their cards to protect themselves from fraudulent transactions. Since its launch in 2021, over half a million customers have utilized the Payment Controls feature, with over 60% using it to manage overseas transactions.
Complementing these financial offerings is the DBS Travel & Leisure Marketplace, a first-of-its-kind integrated travel platform. Since its inception in 2019, the marketplace has experienced a 12x increase in site visits, becoming a go-to destination for savvy travelers seeking competitive flight fares, exclusive hotel rates, and free travel insurance coverage to over 25,000 destinations worldwide.
Moreover, DBS/POSB customers can maximize the value of their DBS points on the marketplace, requiring only half the usual points to offset bookings.
