UnionPay International has joined forces with Bank of China Singapore Branch to issue the first UnionPay platinum debit card in Singapore.
The new offering, to be issued by Bank of China, is a dual-currency international payment card in RMB and SGD, and is accepted across UnionPay network covering over 150 countries and regions across the world, including Singapore.
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The debit card allows settlement to be carried out in double currencies including RMB in China and in SGD outside China. No service fee is charged during the promotion period (from now on to 30 April 2016, the same hereinafter), when cardholders withdraw cash from Bank of China ATMs in the Chinese mainland.
The dual-currency card offers exclusive privileges to cardholders that include lifelong exemption of annual fees, cash refund, as well as concierge services of platinum cards. It also allows cardholders to gain access to various preferential treatments offered by merchants engaged with UnionPay worldwide.
Bank of China vice president Xu Luode pointed out that the new card will integrate resources of the two sides, offering more convenient local and cross-border payment services for cardholders.
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