2 in 10 Singaporeans oblivious to the need to activate credit cards for overseas use

24% don't even know how to do it.

According to a joint survey by The Association of Banks in Singapore (ABS) and Visa, cardholders planning to travel are urged to contact their banks to ensure their credit and debit cards are activated ahead of the October 2013 deadline

Twenty-one percent of Singapore consumers are not aware of the need to activate their debit and credit cards for overseas magnetic stripe-based purchases. The survey also revealed that 24% of consumers who are aware of the measure don’t know how to activate their cards.

The survey was conducted in early September to gauge consumer awareness of the industry measure to increase security by blocking magnetic stripe-based transactions for point-of-sale (POS) payments at overseas merchants starting in October 2013.

Mrs Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei, sees an increase in awareness but urges cardholders to take action to activate their Visa cards – both credit and debit – before they travel to avoid any inconvenience while abroad.

“Consumer education for the payments industry is a shared responsibility. Visa praises the efforts of The Association of Banks in Singapore and our bank partners to educate cardholders. The survey results show that awareness is growing, however, we can do more to make sure cardholders aren’t caught out when they’re overseas,” said Mrs Ooi.

Mrs Ong-Ang Ai Boon, Director of The Association of Banks in Singapore, encourages customers, particularly younger cardholders, to contact their banks before they travel.

“While most customers are aware of the need to activate their cards for personal security, it is also essential that all cardholders understand how to activate their card before travelling. The last thing travelers need is to be inconvenienced while overseas, unable to access their card or account in order to make purchases. The ABS and our stakeholders like Visa will continue to educate consumers on the benefits and need to do so,” added Mrs Ong-Ang.