Maximise your travel budget and get more out of every trip with a multi-currency account. By paying like a local and eliminating foreign transaction fees, you'll stretch your money further and avoid unfavourable exchange rates. Discover how easy it is to manage your finances abroad and enjoy the true value of your travel adventures.

Understanding Exchange Rates

When you use your credit card abroad, your purchases are processed in the local currency and then converted to your home currency. This conversion process often involves a fee and possibly unfavourable exchange rates on the day of your purchase that can eat into your travel funds. 
 

Here are some key points to consider:

• Dynamic Currency Conversion (DCC): Ever been offered the "convenience" of paying in your home currency at a foreign store? This is called Dynamic Currency Conversion (DCC), and it often comes with a hefty price tag. Merchants offering DCC usually mark up the exchange rate, meaning you'll pay more than if you'd simply paid in the local currency. Always choose to pay in the local currency to get a better rate.

• Daily Rate Fluctuations: Exchange rates are constantly changing, which can make it difficult to budget accurately. Keep an eye on the daily rates to avoid surprises on your credit card statement.

Foreign Transaction Fees: A Hidden Travel Expense

Most credit cards charge a foreign transaction fee, typically 1% to 3% of every transaction. These fees can add up quickly, especially on longer trips or when making big purchases.
 

The solution:

• Use a credit card that doesn’t charge foreign transaction fees.

• Alternatively, consider HLB’s Multi-Currency Account, which allows you to save and spend in 12 major currencies, so you can pay directly from your currency wallet and say goodbye to conversion fees.

Debit Card Safety Tips for Travellers

• Travel Notifications & Alerts: Inform your bank of your travel dates to avoid card blocks and enable real-time transaction alerts to monitor all activity.

• Secure ATM Usage: Use ATMs in well-lit, secure locations, ideally inside banks, and inspect them for any signs of tampering before use.

• PIN & Card Security: Always shield your PIN when entering it and keep your debit card in a safe place, such as a secure wallet or travel pouch.

• Backup Payment & Reporting: Carry a backup payment method and immediately contact your bank if your card is lost or stolen.

Why the Multi-Currency Account from Hong Leong Bank is a Game-Changer

While credit cards are convenient, the HLB’s Multi-Currency Account takes financial flexibility to a whole new level for travellers. Here’s why:

1. 12 Major Currencies in One Account: Save and spend in USD, EUR, GBP, SGD, and more, covering over 31 countries. Say goodbye to currency conversion fees and pay like a local wherever you go.
2. Real-Time Exchange Rates: Convert your money at the latest rates through HLB Connect, ensuring you get the best value for your transactions.
3. Transparent Pricing: No hidden charges when you spend or convert in foreign currencies.
    

Secure and Convenient: Manage all your currencies in one easy-to-use HLB Connect App, giving you a peace of mind while you explore the world. Check out our multi-currency accounts now:

• HLB Pay&Save Account/-i

• HLB Wallet/-i

Your travels, your finances—simplified.

Terms and Conditions apply.

Click here for the list of fees and charges, or visit any of our branches for further information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Hong Leong Bank or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.