UOB Updates Credit Card Terms and Conditions: Here’s What You Need to Know

Samuel Chua

27th October 2025 - 3 min read

UOB Malaysia has announced an updated set of Visa and Mastercard Credit Card Terms and Conditions, which will take effect on 17 November 2025. The revised agreement reflects changes in e-wallet payments, overseas spending practices, and customer protection standards.

Here is a summary of what cardholders should take note of:

Paying in Ringgit Overseas Could Cost More

One of the most notable updates concerns Dynamic Currency Conversion (DCC), the option to pay in Ringgit Malaysia when using your UOB card abroad.

The new terms clarify that when you choose to pay in Ringgit at a foreign merchant, the exchange rate is set by the merchant, not Visa, Mastercard, or UOB. This rate is often higher than the card network’s standard conversion rate.

In other words, travellers are better off paying in the local currency to avoid unnecessary conversion costs.

This update makes UOB one of the few banks to clearly warn customers about DCC, a practice that can quietly increase the cost of overseas transactions.

E-Wallets Transactions Are Now Covered

UOB’s updated terms now formally include e-wallet under its card usage policy. This means that when you link your UOB card to a digital wallet such as Apple Pay, Google Pay, or Samsung Pay, those transactions are now recognised as card payments.

This change reflects how digital payments have become part of everyday financial habits in Malaysia.

Stronger Measures Against Fraud and Misuse

To support Malaysia’s efforts against scams and financial crime, UOB has added clearer provisions giving the bank authority to suspend or terminate cards involved in suspicious or illegal activity.

This includes transactions linked to money laundering, terrorism financing, online gambling, or fraudulent behaviour.

Cardholders are reminded to keep their contact information up to date and report any suspicious account activity immediately to avoid disruption.

Clearer Terms for Contactless Transactions

UOB now confirms that contactless, such as Visa PayWave or Apple Pay, do not require a signature or PIN for low-value purchases.

However, cardholders remain liable for unauthorised transactions made before reporting a lost or stolen card. Once the card is officially reported as lost, liability shifts back to the bank.

Fees, Charges, and Interest Rates

The new agreement reiterates that UOB may revise finance charges, late fees, and cash advance fees with 21 days of prior notice.

Interest rates remain tied to repayment behaviour, ranging between 15 percent and 18 percent per annum. Cardholders can avoid higher finance charges by maintaining timely payments and clearing outstanding balances each month.

What This Means for Cardholders

The November 2025 update modernises UOB’s card policies to align with current banking and payment trends.

For most cardholders, the key takeaways are that paying in Ringgit overseas may be more expensive due to DCC rates, that e-wallet transactions are now officially recognised, and that stronger anti-fraud and contactless payment rules are in place.

To explore other card options that suit your travel or spending needs, visit the RinggitPlus Credit Card Comparison page.

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