Forum: Cross-border transaction fees imposed by international card schemes
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We thank Ms Julia Yeo Siang Jun for her letter “Banks must be transparent about transaction fees” (May 30) and are glad that we were able to assist her.
Cross-border transaction fees are imposed by international card schemes. These fees charged by the card schemes are similarly imposed when merchants process refunds for the original transaction. Information about these card fees is also available on our website.
We understand Ms Yeo’s concerns about the lack of a separate line item for the fee on her statement and have reached out to her. We are actively exploring ways to better highlight applicable fees and enhance clarity for our customers.
We appreciate Ms Yeo’s feedback and are committed to continuously improving our customer service and experience.
Chan Sow Han
Consumer Banking Group
Head of Payments & Platforms (Singapore)
DBS Bank
