Cash still king if you are a travelling Sporean

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An honorable member of the Coffee Shop Has Just Posted the Following:

Read that Spore banks are going to impose "restrictions" on Credit Cards to protect Sporeans:D
It's already so difficult for those travelling to use their ATM cards overseas & now they are going to do the same with credit cards. What's worse is that the authorities are going to leave it to the banks to decide on how they implement the controls. I have more than 1 card & you can imagine how many banks I have to inform when I travel:(

For me I've learned to just load up with cash before travelling even for day visits to JB.


http://sg.news.yahoo.com/credit-card...003052771.html



Credit cards will have to be activated for overseas use by 1 Oct

Here’s one more thing you must remember to do before you travel: activate your credit card.

The Association of Banks (ABS) has said that all 10 card-issuing banks in Singapore will deactivate the magnetic strips on credit and debit cards by 1 October, The Straits Times reported Tuesday. At least one bank will deactivate the strips as early as 31 Aug.

All new cards will have their magnetic strips inactive by default.

ABS said that this is a new security measure to protect users’ details and to prevent cards from being cloned by skimming syndicates.

Activation methods will vary from bank to bank – these can include activation via SMS, ATM or on the phone. Depending on the card issuer, users may be allowed to activate their card for a period of time or they might have to deactivate the card after their travel period.

Local transactions will not be affected as they are processed using EMV chips, which are said to be more secure.


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