You may be asked to choose a currency overseas
When paying overseas, the payment terminal may ask whether you want to pay in the local currency or in SGD.
Local currency means the currency of the country you are in
For example, choose JPY in Japan, MYR in Malaysia, THB in Thailand, EUR in Europe, and AUD in Australia.
SGD payment may trigger Dynamic Currency Conversion
If you choose SGD, the merchant, ATM, or payment provider may convert the amount for you using their own exchange rate.
The SGD rate may include extra markup
Although SGD looks familiar, the exchange rate used by the merchant or ATM may be less favourable and may include hidden markup.
Local currency is usually the better choice
Choosing the local currency usually allows your card, wallet, or payment provider to process the exchange rate instead of the merchant.
This helps keep your spending clearer with Bananana!
When using Bananana! overseas, choosing the local currency can help keep your transaction more aligned with your wallet balance and App transaction details.
Simple rule
When overseas, choose the local currency whenever possible.
