Singapore Dollar (SGD) Denominated Cards Overview
Note: This article primarily applies to Ramp Administrators. Cardholders may find other articles in the Ramp overview section more applicable.
Overview
Available on Ramp Enterprise. See Ramp Enterprise overview for plan details.
This article answers some frequently asked questions regarding Singapore dollar–denominated cards.
Issuing Singapore dollar funds to employees in your Singapore entity allows you to manage expenses in the currency of that entity.
Frequently asked questions
What are the requirements for issuing Singapore dollar–denominated funds?
- You must have an Singapore legal entity
- You must be multi-entity business and use Ramp for Multi-Entity Companies
What are the benefits of using locally denominated funds?
- Transact at local vendors with higher acceptance rates (some vendors may decline foreign cards due to fraud/risk rules).
- No foreign transaction fees for any transactions made with vendors in the same denomination.
What do I need to do to ensure the cardholder’s physical card is SGD-denominated?
Once your business has completed KYB and your Singapore entity has been added to Ramp, select SGD as its issuing currency. Cards issued to users tied to a location under that entity are SGD-denominated by default. To issue a physical card, see Issuing a Ramp card or funds.
Example:
- An admin creates a location called “Singapore City” in Ramp and assigns it to the Singapore entity.
- Jane Doe is invited to Ramp under the “Singapore City” location.
- Any funds or virtual cards issued to Jane will automatically be SGD-denominated.
Are virtual and physical SGD cards available?
Yes, both physical and virtual SGD cards can be issued.
Is it possible for a cardholder to have cards of different denominations?
- In general, funds and virtual cards issued to a given user will be in the currency the entity has configured as its issuing currency.
- However, a cardholder can have funds and virtual cards of different denominations if they are associated with multiple entities.
If a cardholder is using an international card, what billing address would they use?
- For non-USD cards, use the business entity's office address on file with Ramp as the billing address.
How are statements paid?
Automatic payment from a linked bank account is not available for SGD statements. If wire transfer is available for your business and you select it as the entity's payment method, pay from an SGD bank account and initiate a wire for each statement. See Locally-funded statement payments for provider restrictions, payment eligibility, and the outside-scope payment path, and see Wire transfers for card statement payments for wire steps.