Trust card vs YouTrip: Which is a better SG travel card for overseas spending?
Wondering which card is better for overseas use - Trust card vs YouTrip? We compared the fees and exchange rates and also included an alternative option Wise
If you’ve got a YouTrip card¹ you may be wondering how to use YouTrip in Malaysia, for easy spending and withdrawals in ringgit. This guide covers what you need to know, including the YouTrip Malaysia ringgit exchange rate, and fees you may encounter while you’re away.
We’ll also cover an alternative to using YouTrip in Malaysia - the Wise card.
With Wise you can top up in SGD, and then convert and hold MYR in your account, using the Google exchange rate - to lock in the rate when it’s good, or plan your Malaysian holiday budget in advance.⁷
You can use YouTrip to spend and make withdrawals in Malaysia. However, you can’t hold a balance in ringgit on your YouTrip card². This means that your SGD balance - or the balance of any other supported currency you might hold - will be converted to ringgit at the time you make a purchase or withdrawal.
This can make it a bit trickier to keep on top of your budget, as you won’t be able to easily see in advance exactly how much you have in MYR before your trip.
YouTrip cards are issued on the Mastercard network, which is widely accepted around the world. To use YouTrip in Malaysia, just look out for the Mastercard logo when you’re shopping - usually displayed next to the checkout. Or, simply ask the merchant if Mastercard is accepted before you pay.
As we mentioned, you can’t hold a balance in MYR on your YouTrip card. This means that the YouTrip Malaysia rate you get will be the live exchange rate at the time your payment or withdrawal is processed³.
YouTrip uses very fair exchange rates - based on the wholesale rate you can find on Google or using the Mastercard currency converter⁴.
This means you should get a good deal on your YouTrip MYR spending - you just won’t necessarily be able to see in advance exactly what rate is being used, as the applicable exchange rate is likely to be the one at the time of processing - which can be a day or so after you actually initiate a transaction. At worst, YouTrip states it can be up to 8 days until your payment is processed⁵.
You’ll also be able to make cash withdrawals in ATMs in Malaysia with your YouTrip card. If you do this, there will be a 5 SGD⁶ or equivalent fee from YouTrip, plus any applicable fees from the ATM operator. You’ll get the Mastercard exchange rate as you would when making a purchase - and can take out up to 5,000 SGD a day if you need to.
Don’t forget, though - you can’t take cash out in Singapore.
One important thing to watch out for when you withdraw or spend in a foreign currency with your YouTrip card - or any other payment card for that matter - is DCC. DCC stands for Dynamic Currency Conversion, and it’s where you’re asked in a merchant or when making a withdrawal if you’d rather pay in your home currency or the local currency wherever you are.
DCC is positioned as a service, as you’ll be able to easily see the cost of your purchase in your home currency, without needing to convert it. However, in reality, when you choose DCC you get the exchange rate the merchant selects, plus extra fees. That means it costs far more than it would do if you chose to pay in the local currency instead.
As an alternative to YouTrip in Malaysia, check out the Wise card.
Open a Wise account online or in the Wise app, and order your Wise card for a one time fee of 9 SGD.
You’ll be able to add funds to your Wise account in SGD and convert to MYR in advance so you’ll be able to see exactly what your budget is in ringgit for your upcoming trip. Or, switch over the MYR when you spot a good rate - Wise always uses the Google exchange rate to convert funds, with low exchange fees from 0.43%.
Finally, if you’d rather not convert in advance of travel, just let the Wise card do the conversion for you. You’ll get the great rate Wise is known for, with the lowest possible fee.
In addition:
Here’s a quick head to head comparison of the YouTrip card vs the Wise card:
Youtrip card | Wise card | |
---|---|---|
Eligibility | Residents of Singapore and Malaysia only | Available globally in all but a few countries |
Available currencies for holding and exchange | 10 | 40+ currencies |
Available currencies/countries for card spending | 150+ currencies | 170+ countries |
Exchange rates | Mastercard rates | Mid-market rates, with low conversion fees from 0.43% |
ATM withdrawals | 5 SGD + any applicable ATM operator fees | Up to 2 withdrawals per month, to 350 SGD in value, fee free 1.50 SGD + 1.75% after that |
Receive payments | Not available | Receive payments from 30+ countries with local bank details |
Looking for more on how YouTrip compares against some other great providers? There’s also a head to head of Revolut vs YouTrip here.
Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
No matter what you plan to do in Malaysia, you want to get the best available exchange rates and the lowest possible fees when you convert your dollars to ringgit. This guide covers all you need to get started - including the YouTrip ringgit rates and fees, and an alternative you can compare - the Wise card. Enjoy your trip!
Sources:
Sources checked on 06/02/2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited 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.
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