Which multi-currency travel card to get? YouTrip, Revolut, InstaReM, or TransferWise?

Correct as of: 9 Nov 2019
The views in this article represent the opinions of the writer only. 

As a frequent traveller, I’ve been a big fan of digital multi-currency travel cards since YouTrip launched the first digital multi-currency travel card in Singapore (2018).

While they’re not a replacement for credit cards that collect miles, they’re an alternative everyday card for spending overseas.

Holding Youtrip Card infront of Giraffes in Kenya---YouTrip Review Featured 2

With so many “travel” related cards popping up recently, I’ve taken up the task of pitting the main players — YouTrip, Revolut, TransferWise, and InstaReM — up against each other. Hopefully at the end of this digital multi-currency travel card review, we’ll all have a better idea of which multi-currency card best fits our needs.

Here’s a handy TL;DR summary table if you can’t wait:

Some key features and considerations — costs, exchange rates, security, application process.

Key Features of the different digital Multi-Currency Travel Cards

The basic premise of a digital multi-currency travel card is that they all promise preferential exchange rates with little to no fees. So what sets them apart?

If you’re already familiar with these cards, scroll down to the next section on costs & exchange rate differences.


Welcome Screen - YouTrip Review

For savvy Singaporean travellers, you should be familiar with the first digital multi-currency travel card player that started here in August 2018. Developed by You Technologies Group Limited, the company is based in both Hong Kong and Singapore. They recently secured the principal licence to be a direct Mastercard issuer.

YouTrip allows you to pay overseas with no fees in 150+ currencies. Having used YouTrip for a year, I really loved how fuss-free and convenient it was. It works really well as an overseas debit card + multi-currency wallet, and have already saved me hundreds of dollars.

Read also: YouTrip Review



Founded in the UK back in July 2015, Revolut just made its way to Singapore, and is the first neobank to partner with Visa here. More than just a multi-currency travel card, Revolut has plenty of features that seems to position itself as an all purpose debit card as well. It’s the only player that offers three different cards with a subscription plan.


The paid tiers allow you higher limits for ATM withdrawals, a lower currency exchange fee (see section below), priority customer support, nicer physical cards, and LoungeKey Pass access. The Metal Card also offers 1% cashback on overseas spending.

What’s interesting to note is that other than acting as a multi-currency wallet and overseas debit card, Revolut also allows you to transfer money abroad. They have an in App budgeting/analytics tool, and a feature called Vault that can automatically round up your purchases to the nearest dollar and save it in your account.

If you are new to travel wallets and multi-currency cards, I’d suggest taking your time to explore the different features.

TransferWise — Platinum Debit Card

TransferWise Platinum Debit Card Multi-currency Travel Card

Another UK based company, TransferWise started in 2011 as a fuss-free and low-cost way to remit money overseas online. Their trademark neon green debit card is supported by Mastercard and also allows you to spend overseas at preferential exchange rates.

The amazing thing about TransferWise, is that you can get access to your own account in multiple countries. This currently includes:
– an Australian account number and BSB code
– a British account number and sort code
– an European IBAN
– a New Zealand account number
– a US account number and routing number

You can also store up to 40+ different currencies in your account, the most amongst all the multi-currency wallets.


InstaReM — AMAZE Card


Founded in Singapore in 2015, InstaReM is a digital cross-border remittance company focussed on making it easier and cheaper to send money globally. Their new AMAZE Card allows you to link up to 5 debit or credit cards and continue earning cashbacks, reward points and air miles. The AMAZE card is currently only available in Singapore and will be launching in December 2019.

Costs & Exchange Rates of YouTrip, Revolut, TransferWise & InstaReM

Probably the section most people care about.


Basic Cost: Free
Exchange Rates: Real-Time Interbank Mid-Market Rate
Currency Exchange Fees: No Commission
Overseas ATM Withdrawal: SGD5 per withdrawal

Exchange Rate - YouTrip Review

– YouTrip is free to use and does not charge any commission
– The interbank mid-market rates is typically much better than the ones credit companies use — which is very close to the physical money changer or google interbank rates. As of 4th Nov 2019, YouTrip also offered to match the exchange rates on other multi-currency wallets.
– For overseas ATM withdrawal, there’s a S$5 charge per withdrawal, so it’s best to plan ahead and draw enough if required.


Basic Cost: $0 to S$19.99/month
Exchange Rates: Real-Time Interbank Mid-Market Rate
Currency Exchange Fees: 0-2.5% depending on membership and market hours
Overseas ATM Withdrawal: Free up to SGD350 (Standard), SGD700 (Premium), SGD1050 (Metal) every month. 2% Fair Usage Fee after.

– A currency exchange fee is charged based on a few factors — your membership level (standard, premium or metal card), amount you exchange each month, and London’s market hours. With Revolut, you are split into either a “Regular” or “High Frequency Standard” customer.

*High Frequency Standard rates are charged to standard users (free membership) who have exchanged more than S$9,000 or equivalent in any rolling month.

To protect themselves against currency fluctuations, Revolut also locks in the closing rate for the weekend (UTC) and charges more currency exchange fees. Here’s the breakdown:

Exchange Fees during market hours (UTC, Mon-Fri)

Regular High Frequency Standard
THB and UAH1%1.5%
No Fee0.5%
OthersNo Fee0.5%

Exchange Fees after market hours (UTC, Sat-Sun, trading holidays)

Regular High Frequency Standard
THB and UAH2%2.5%

*Pro-Tip: Do your money changed from Monday to Friday (UTC).

– ATM withdrawal is free up to certain amounts depending on your membership level.
Standard: S$350/month
Premium: S$700/month
Metal Card: S$1050

A 2% usage fee is charged for amounts exceeding your limit but that shouldn’t be an issue when travelling in places where card payment is widely accepted.

TransferWise — Platinum Debit Card (Borderless Account)

Basic Cost: Free
Exchange Rates: Real-Time Interbank Mid-Market Rate
Currency Exchange Fees: 0.35-2%
Overseas ATM Withdrawal: Free up to SGD350 per 30 rolling days. 2% fee after limit is hit

TransferWise Currency Calculator - Multi-currency Travel Card

– Like YouTrip, TransferWise is totally free to use and also uses the real-time interbank mid market rates.
– Uses a fixed percentage fee, depending on the currencies exchanged. The fee is clearly shown at the point of exchange and you can test it for yourself on the TransferWise pricing and fee converter.

Here are some common currency conversion fees for TransferWise Platinum Debit Card holders):

RouteConversion FeeFees for Converting SGD1k
SGD to MYR0.69%SGD6.85
SGD to THB0.65%SGD6.46
SGD to USD0.44%SGD4.38
SGD to EUR0.44%SGD4.38
SGD to GBP0.44%SGD4.38
SGD to AUD0.44%SGD4.38

– Similar to Revolut, there is a cap on the overseas ATM withdrawal limit for TransferWise. The main difference is that there are no Premium Plans/Cards to increase your limit.

InstaReM — AMAZE Card

Basic Cost: Free
Exchange Rates: Real-Time Interbank Mid-Market Rate
Currency Exchange Fees: 0.25-1% (assuming it’s the same as their transfer fees)
Overseas ATM Withdrawal: N/A

InstaRem Currency Calculator - Multi-currency Travel Card

Launching in December, we are eagerly waiting for details of the InstaReM AMAZE Card to see how it compares to the rest. However, we can use their current zero-margin exchange rates as a benchmark. You can test the various exchange rates and fees using the InstaRem Currency Converter.

Here are some common currency exchange fees for InstaRem:

RouteConversion FeeFees for Converting SGD1k
SGD to MYR0.45%SGD4.50
SGD to THB0.6%SGD6.00
SGD to USD0.4%SGD4.00
SGD to EUR0.35%SGD3.50
SGD to GBP0.3%SGD3.00
SGD to AUD0.4%SGD4.00

At a glance, the fees are slightly better than TransferWise. However interbank mid-market exchange rates might differ. They don’t make it easy for us to compare, but I compared anyway (see below).

Exchange Rate Comparison — YouTrip vs Revolut vs InstaReM vs TransferWise

Live Demo - Multi-currency Travel Card

Here’s a comparison of exchanging SGD1,000 to USD at the point of writing. As the currency exchange rate was changing constantly, I refreshed the rates at the same time so the gap within each is probably about 3 seconds. It’s as fast as I can manage using 3 phones and a laptop. 😛

Final Amt After Fees & Exchange Rate

1The test was conducted on a weekday, so I do expect the fees to rise over the weekend.
2InstaReM’s rate is based off their remittance service, while YouTrip, Revolut, and TransferWise was based off the money exchange feature on the respective multi-currency wallet.

Note: It’s probably best to do your own tests if you are exchanging large amounts of money as I’m pretty sure the exchange rates will fluctuate more as the competition heats up.

Security Features of YouTrip, Revolut, TransferWise & InstaReM


If you misplaced your card, YouTrip allows you to deactivate it temporarily by toggling a button on the YouTrip App. If you find it again in-between the couch, you can easily activate it again. Compared to the traditional way of calling the banks to deactivate your debit/credit card permanently, this is much more convenient and fuss-free.

Safety Feature-YouTrip-Review



Revolut has the ability to freeze (deactivate) the card temporarily too.

What I found interesting is function to create Disposable Virtual Cards — perfect for times when you have to make an online payment through a dodgy looking website.

According to Revolut, the Disposable Virtual Card will automatically be destroyed and a new one is generated each time an online payment is made. This reduces the risk of online credit card fraud since it can only be used once. However, this feature is only available for Premium & Metal Card users.

You can also control other security features from the Revolut App directly, like turning on location-based security, or disabling contactless payments, ATM withdrawals, online payments, or magnetic stripe payments based on your needs.

TransferWise — Platinum Debit Card

Similar to YouTrip and Revolut, you can easily freeze or cancel your card. An additional feature is the implementation of 2FA for desktop logins. This can be done via SMS, a phone call, or the TransferWise App. You can also set monthly spending limits

InstaReM – AMAZE Card

To be updated.

Which Multi-Currency Travel Card is better for me?


While there are plenty of overlaps, I do think that the strengths of each card suits different types of travellers.

For the Fuss-free Traveller: YouTrip

Probably the simplest and easiest card to understand and use, YouTrip does as it says — it saves you money for spending overseas. There are no frills or additional features (currently). If you don’t want to worry too much about when to exchange currencies, nor have a need to remit money overseas, this is a great alternative to carrying lots of cash around.

For those who want a multi-purpose spending card: Revolut

The most sophisticated of the lot, Revolut has a lot of useful features for the global citizen. More than just a travel card, you can also use it like a global everyday spending card, and to transfer money overseas.

For those who have a need to remit money: TransferWise

With the ability to store up to 40+ different currencies, TransferWise is definitely ahead if you travel to many non mainstream countries or need to send money abroad. The ability to have local bank account numbers is a huge plus.

For those who have multiple debit/credit cards: InstaReM

While we wait for the card to launch, it’s current premise looks really promising — consolidate all your cards and rewards while having better exchange rates for overseas spending.

Hope you found this review useful. Do let us know if there are other things we might have missed out on in the comments section below!

For more travel inspiration, follow us on Instagram, YouTube, and Facebook!

View this post on Instagram

A post shared by The Travel Intern (@thetravelintern) on


Please enter your comment!
Please enter your name here