Can I use my Grab card overseas?

Important Announcement: Grab Card Foreign Transaction Fee Update

Effective March 18th, 2024, Grab will implement a foreign transaction fee (FTF) of 4% (inclusive of VAT) on all international payments made using the Grab card. This fee will be applicable regardless of the destination country.

What is a Foreign Transaction Fee?

A foreign transaction fee is a charge levied by banks or payment processors when you use your card to make a purchase in a currency or country different from your home currency and country. The fee typically ranges from 1% to 3% of the transaction amount.

Impact on Grab Card Users

Starting March 18th, 2024, Grab cardholders will be subject to a 4% FTF for all overseas transactions. This means that if you use your Grab card to make a purchase of $100 in a foreign country, you will be charged an additional $4.00 fee.

Reason for the Fee

According to Grab, the implementation of the FTF is necessary to cover the costs associated with processing international payments. These costs include currency conversion fees, network fees, and fraud prevention measures.

How to Avoid the Fee

There are a few ways to avoid the FTF when using your Grab card overseas:

• Use a card that does not charge foreign transaction fees, such as the Charles Schwab Platinum Checking Account Debit Card or the Capital One Venture X Rewards Credit Card.
• Convert your funds to the local currency before making a purchase.
• Pay in cash.

Conclusion

The implementation of a foreign transaction fee on the Grab card is an important change for cardholders. It is important to be aware of this fee before using your Grab card overseas. By taking steps to avoid the fee, you can save money on your international purchases.