What are you most kiasu about when it comes to travelling? Picking the best deals for your stays? Booking the cheapest flights? We’re sure nailing the best exchange rates is on that list too!
Nowadays, there are many multi-currency accounts like YouTrip, Revolut and Transferwise. How does the UOB Mighty FX compare to these alternatives? And is it worthwhile to get an account for yourself?
What is the UOB Mighty FX account?
Let’s start with the basics. The UOB Mighty FX is an account designed to help travellers streamline their travelling experiences. With the UOB Mighty FX , you can get competitive exchange rates for 11 different currencies such as:
- AUD (Australia)
- CAD (Canada)
- CHF (Switzerland)
- CNH (China)
- EUR (Europe)
- GBP (Great Britain)
- HKD (Hong Kong)
- JPY (Japan)
- NZD (New Zealand)
- USD (United States)
The UOB Mighty FX can also be linked with selected UOB accounts such as the One Account, iAccount, Wealth Premium Account, Privilege Account or KrisFlyer UOB Account. Once you’ve linked up your accounts, you can transfer funds to your UOB Mighty FX and simply convert it to your selected currency!
What’s so great about the UOB Mighty FX ?
Exchange rates fluctuate regularly and a slight movement can make a big difference for you, especially if you’re intending to convert a lump sum. The UOB Mighty FX’s rates are live 24/7, which means you can keep a look out for rates that best suit you any time of the day. What’s more, exchange rates shown are up to 4 decimal places which means you get more details about currencies you’re converting to.
Another great thing about the UOB Mighty FX is its app’s useful features. On it, you can set your preferred exchange rates. When the rates are met, you’ll receive a notification and you can convert your funds right away!
The UOB Mighty FX Debit Card
Yup, you’ll get a card too, once you’ve signed up for an account. With this debit card, you can access ATMs in selected countries to avoid paying additional charges. This way, you don’t have to worry about converting too much or too little cash when you’re overseas. No one likes bringing home a wad of unused currency especially if you don’t intend to revisit any time soon!
Rewards to Look Forward To
Now we’re talking about the perks that make a difference!
There are a number of privileges you can enjoy with the UOB Mighty FX. For starters, you’ll be entitled to seasonal Scoot privileges, $10 off Grab rides and ChangiWifi.
Additionally, if you convert more than $1000, you’ll be entitled to 200 KrisFlyer miles! The reward is capped at 4 conversions (from SGD to any of the 10 selected currencies) per calendar year, so that means you can earn a maximum amount of 800 KrisFlyer miles each year.
The UOB Mighty FX is a great account to get on for those who want an easy, convenient way to convert their currencies. The app is easy to use, and if you’re an existing UOB customer, you can link it up with your account! However, if you rarely visit any of the 11 countries listed, there’s really not much you can gain from getting on the platform. Other multi-currency wallets and accounts might be more of use to you.
Tried out any of these multi-currency wallets? Tell us about your experience!