Payment Methods FAQ

Great question! There are actually some solid business reasons behind this:

Faster Processing & Lower Fees
Our payment gateway (Razorpay) is configured specifically for Singapore operations. Using a single currency means we can process your payments faster and keep transaction fees lower compared to multi-currency setups. These savings get passed on to you through our competitive net rates.

Simplified Accounting
For both you and us, single-currency billing makes accounting much cleaner. No exchange rate fluctuations between booking and payment, no currency conversion charges on our end, and clearer financial reporting for your business.

Regulatory Compliance
Operating in Singapore means we follow Singaporean financial regulations, which require specific licensing for multi-currency transactions. Sticking with SGD keeps everything compliant and straightforward.

But Don't Worry About Conversions!
Even though we process in SGD, you can still pay from anywhere in the world. When you use an international credit/debit card or online banking, your bank handles the conversion automatically. You'll be charged in your local currency based on your bank's exchange rate for that day. Most major banks have pretty competitive rates, and you can check the exact conversion before confirming payment.

Think of your wallet as a prepaid account - similar to how a mobile wallet or metro card works, but specifically for your travel bookings.

How It Works:

1. Add Funds: You start by loading money into your wallet. You can do this via Razorpay (instant) or bank transfer (1-2 days).
2. Book & Pay: When making a booking, choose "Pay from Wallet" at checkout. The amount gets deducted instantly from your balance.
3. Track Everything: Your wallet dashboard shows your current balance, transaction history, and upcoming deductions for confirmed bookings.

Why Use the Wallet?

• Zero Transaction Fees: Unlike card payments (which have 1.5-2.5% fees), wallet payments cost you nothing extra.
• Faster Checkout: No need to enter card details every time. Click, pay, done. Great when you're booking multiple services.
• Better Budget Control: You can load a specific amount for the month and track spending easily.
• Instant Refunds: If a booking gets cancelled, refunds go straight back to your wallet immediately - no waiting 5-7 days like with bank refunds.
• Works with Credit Terms: If you have approved credit, your wallet can go into a managed negative balance up to your credit limit.

Security Note:
Your wallet balance is protected. We use bank-level encryption, and only you can authorize payments from your wallet. You can also set up payment alerts to get notified of every transaction.

Yes, credit terms are definitely available - but they're not automatic. We evaluate each application based on several factors to ensure sustainable business relationships.

Who Qualifies?

• Established travel agents with a proven track record
• Businesses with regular booking volume (typically 10+ bookings/month)
• Companies with solid financial standing and good payment discipline
• Agents who've completed a minimum trial period with prepaid bookings

Typical Credit Terms:

• Standard: 15-day payment terms (most common)
• Extended: 30-day terms (for high-volume agents)
• Credit Limits: Usually SGD 5,000 to SGD 50,000 depending on business size

For New Agents:
If you're just starting with us, here's the typical path to credit approval:

1. Month 1-3: Complete at least 5 prepaid bookings. This helps us understand your business pattern and booking frequency.
2. Month 3: Submit credit application with business documents (registration certificate, bank statements, trade references).
3. Review Period: Our finance team evaluates your application (typically 7-10 business days).
4. Approval: If approved, you start with a modest credit limit which can grow as you build history.

What We Look For:

• Consistent booking activity (not sporadic)
• Business registration and proper documentation
• Clean payment history (if you've done prepaid bookings)
• Positive references from other suppliers
• Financial statements showing business stability

Adding funds to your wallet is straightforward. We offer two methods depending on how quickly you need the funds available:

Method 1: Instant Top-Up via Razorpay (Recommended for Speed)

1. Log in to your agent dashboard
2. Go to My Wallet → Add Funds
3. Enter the amount you want to add (minimum SGD 100)
4. Choose your payment method:
   • Credit/Debit Card (Visa, Mastercard, Amex)
   • UPI (for Indian accounts)
   • Net Banking (50+ banks supported)
5. Complete the payment through Razorpay's secure gateway
6. Your wallet is credited instantly upon successful payment

Fees: Credit cards 2.5%, Debit cards 1.5%, UPI/Net Banking 1%. These are standard gateway charges.

Method 2: Bank Transfer (Best for Large Amounts)

1. Go to My Wallet → Bank Transfer Instructions
2. Note our bank details (we'll also email them to you)
3. Transfer from your business account to our Singapore account
4. Use your Agent ID + Invoice Number as reference (critical for reconciliation!)
5. Email the transfer receipt to accounts@travel-dmc.com
6. We'll credit your wallet within 1-2 business days after verification

Fees: Bank transfers over SGD 5,000 have zero fees from our side. Your bank may charge wire transfer fees.

Special Cases:

• Large Deposits (SGD 10,000+): Contact our accounts team first. We can arrange special processing and potentially better rates for bulk deposits.
• International Wire: Transfers from overseas banks take 3-5 business days. Factor this in for time-sensitive bookings.
• Business Hours: Bank transfer credits are processed during business hours (Mon-Fri, 9 AM - 6 PM SGT). Weekend transfers get credited on Monday.

Absolutely. Security is taken very seriously, and Razorpay is one of the most trusted payment platforms in Asia. Here's why you can pay with confidence:

PCI-DSS Level 1 Certification
Razorpay holds the highest security certification in the payment industry (PCI-DSS Level 1). This is the same standard used by major banks and global payment processors like PayPal and Stripe. It means they undergo rigorous annual audits and maintain military-grade security protocols.

We Never See Your Card Details
This is important: when you enter your card information, it goes directly to Razorpay's secure servers - not ours. We never store, process, or even see your full card number. All we receive is a confirmation that your payment was successful. Your sensitive data is completely isolated from our systems.

256-bit SSL Encryption
Every transaction is encrypted using the same technology banks use for online banking. That little padlock in your browser? It's there because all data traveling between you and Razorpay is scrambled and unreadable to anyone trying to intercept it.

3D Secure Authentication
For card payments, you'll often see an additional verification step (OTP to your phone, bank app confirmation, etc.). This is 3D Secure - an extra layer that confirms you're actually the cardholder. It protects you from unauthorized transactions.

Real-Time Fraud Detection
Razorpay's AI monitors every transaction for suspicious patterns. If something looks off (unusual location, mismatched billing details, etc.), they'll flag it and ask for additional verification before processing.

Secure Payment Methods:

• Cards: Tokenization ensures your card is never stored in plain text
• UPI: Pin-protected, linked directly to your bank account
• Net Banking: Redirects to your bank's official portal for authentication

What If Something Goes Wrong?
In the rare event of a disputed transaction, Razorpay has a dedicated fraud prevention team. Plus, your card's fraud protection still applies - you can dispute charges through your bank if needed.

Trust Indicators:
Razorpay processes billions in transactions annually for over 8 million businesses, including major airlines, hotels, and travel companies across Asia. They're backed by Sequoia Capital and Y Combinator, with regulatory approvals from payment authorities in multiple countries.

Yes, you'll receive both - and they serve different purposes for your accounting needs:

Invoice (Generated at Booking Confirmation)

The invoice is created when you confirm a booking, before you make payment. It shows:

• Booking details (hotel/tour/transfer information, dates, pax)
• Itemized pricing breakdown (base rate, taxes, service charges)
• Your agent discount/commission (if applicable)
• Total amount due
• Payment due date
• Invoice number and date

Think of this as your "bill" - it's what you use to bill your own clients and for your accounting records.

Payment Receipt (Issued After Successful Payment)

Once payment goes through, you immediately receive a receipt showing:

• Amount paid (in SGD)
• Payment method used (Wallet, Razorpay, Bank Transfer)
• Transaction ID and timestamp
• Reference to the invoice number
• GST details (if applicable)
• Your wallet balance (if paid from wallet)

This is your proof of payment - essential for expense claims and financial reconciliation.

How You Receive Them:

1. Immediate Email: Both invoice and receipt are emailed to your registered email address instantly
2. Dashboard Access: Available in My Bookings → Click any booking → Documents tab
3. Download Options: Available as PDF (for printing/sharing) or view online
4. Bulk Download: In Transaction History, you can export multiple receipts/invoices at once

Document Features:

• GST Compliant: All invoices include GST breakdown where applicable
• Company Branding: Your agency name appears as the billed party
• Unique Reference Numbers: Every invoice and receipt has a unique ID for tracking
• Reprint Anytime: Lost an invoice? Download it again from your booking history - no need to contact support

Special Cases:

• Partial Payments: For bookings with deposits, you'll get separate receipts for each payment installment
• Refunds: A credit note is issued showing the refund amount and adjusted against the original invoice
• Amendments: If you modify a booking that changes the price, a revised invoice is generated

Refund timing depends on how you originally paid. Here's the complete breakdown:

Wallet Refunds: INSTANT
If you paid from your wallet, the refund is credited back immediately - like, within seconds of approval. You'll see the balance update in real-time and can use it for another booking right away. This is the fastest option and one of the main reasons agents love using the wallet system.

Razorpay Refunds (Card/UPI/Net Banking): 5-7 Business Days
For card payments, the refund process involves multiple steps:

1. Day 0: We initiate the refund from our side (usually within 24 hours of cancellation approval)
2. Day 1-2: Razorpay processes the refund and sends it to your card network (Visa/Mastercard/etc.)
3. Day 3-7: Your bank receives the funds and credits your account

The exact timing depends on your bank - some are faster (3-4 days), others take the full 7 days. For UPI refunds, it's typically faster (2-3 days).

Bank Transfer Refunds: 3-5 Business Days
If you paid via direct bank transfer, we process refunds back to the same account you paid from. Once we initiate the transfer:

• Local Singapore banks: 1-2 business days
• International banks: 3-5 business days (depending on correspondent banking)

You'll receive a transaction reference number to track the transfer.

Important Notes About Refund Amounts:

• Cancellation Policies Apply: The refund amount depends on the supplier's cancellation policy. Hotels often have deadlines (e.g., free cancellation 7 days before check-in, 50% charge after that).
• Non-Refundable Items: Some tickets and special-rate hotels are non-refundable - this is clearly marked at booking.
• Transaction Fees: Razorpay fees (if applicable) are generally not refunded, though we absorb these for wallet users.
• Exchange Rate Changes: For international cards, your bank's exchange rate at refund time might differ from booking time, causing slight variations.

Tracking Your Refund:

1. Go to My Bookings → Find the cancelled booking
2. Check Refund Status - it shows: Pending, Processing, Completed
3. For Razorpay refunds, you'll see the refund ARN (Acquirer Reference Number) - use this to track with your bank
4. Email notifications are sent at each stage

This is a common question, especially from agents handling group bookings or multiple clients. Here's how it works:

Single Booking, Multiple Items: YES
You can definitely combine multiple services into one booking and pay once. For example:

• Hotel (3 nights) + Airport Transfer + City Tour + Dinner Cruise
• All items go into your cart
• Checkout once with a single payment
• One consolidated invoice

This is the recommended approach for creating package deals for your clients.

Multiple Separate Bookings: Currently No (But There's a Workaround)
Right now, each booking reference requires a separate payment. So if you're handling 5 different clients or 5 different travel dates, you'd need to checkout 5 times.

However, here are some practical solutions:

Solution 1: Use Wallet for Quick Payments
Load your wallet with enough funds to cover all bookings. Then checkout becomes super fast - just click "Pay from Wallet" for each booking. No need to enter card details repeatedly. Most agents find this takes under 30 seconds per booking.

Solution 2: Bulk Payment via Bank Transfer
For larger volumes (10+ bookings or SGD 10,000+):

1. Create all your bookings (they'll be held as "Payment Pending")
2. Contact our accounts team at bulk-payments@travel-dmc.com
3. We'll generate a consolidated invoice combining all booking amounts
4. Make one bank transfer for the total amount
5. We'll allocate the payment across all bookings and confirm them

This usually takes 1-2 business days to process but saves significant time for high-volume agents.

Solution 3: Credit Terms
If you have approved credit, you can confirm multiple bookings immediately without upfront payment. Your monthly invoice will consolidate everything, and you pay once at month-end. Much more efficient for regular, high-volume bookings.

What We're Working On:
We're developing a "Batch Payment" feature that will let you:

• Select multiple pending bookings from a list
• Pay for all of them with one transaction
• Get a consolidated invoice

Expected launch: Q2 2025. If you'd like to beta test this feature, email product@travel-dmc.com.

Payment failures happen occasionally - usually due to technical glitches or bank issues. Here's exactly what happens and what you should do:

Immediate Response: Booking is Held for 2 Hours
When a payment fails, we don't cancel your booking right away. Instead, we automatically hold it for 2 hours, giving you time to fix the issue and try again. During this window:

• The rooms/services remain reserved
• Prices stay locked (no increases)
• You can retry payment from your booking dashboard

Common Reasons for Payment Failures:

1. Insufficient Funds / Credit Limit Exceeded
Your card or wallet doesn't have enough balance. The error message will usually say "Declined" or "Insufficient balance."
Fix: Add funds to wallet or use a different card with sufficient limit.

2. Bank Declined the Transaction
Your bank's fraud protection blocked it (common for first-time international payments or large amounts).
Fix: Call your bank, confirm the transaction is legitimate, and they'll temporarily lift the block. Then retry.

3. Incorrect Card Details / OTP Timeout
Typo in card number, CVV, or you didn't complete the OTP verification in time.
Fix: Double-check all details and complete OTP verification within the time limit (usually 5 minutes).

4. Technical Error / Gateway Timeout
Sometimes Razorpay or bank servers have brief outages. You'll see "Gateway timeout" or "Technical error."
Fix: Wait 10-15 minutes and try again. These are usually temporary.

5. International Card Not Enabled
Your card isn't authorized for international transactions (since we process in Singapore).
Fix: Contact your bank to enable international/online transactions.

What If Money Was Deducted But Booking Failed?
This is the scariest scenario, but don't panic - it's handled automatically:

1. Auto-Reversal: If the payment went through but our system didn't receive confirmation, the amount is automatically refunded by Razorpay within 24-48 hours.
2. Bank Hold: Sometimes banks place a temporary "hold" which looks like a deduction but isn't actually charged. This releases in 3-5 days.
3. Contact Us: If you see a deduction on your statement and no booking confirmation within 2 hours, email support@travel-dmc.com with:
   • Screenshot of the payment confirmation from your bank
   • Transaction ID / Reference number
   • Booking reference (if you have one)
   We'll investigate and either confirm your booking or expedite the refund.

After 2 Hours:
If you haven't completed payment within the 2-hour window, the booking is auto-cancelled and inventory is released. You'll receive an email notification. You can create a new booking, but prices/availability may have changed.

Your complete financial record is available in your dashboard with powerful filtering and reporting tools. Here's where to find everything:

Main Location: My Wallet → Transaction History
This is your central hub for all payment activity. Access it by clicking My Wallet in the top navigation, then Transaction History tab.

What You'll See:

• Transaction Type: Booking Payment, Wallet Top-up, Refund, Credit Adjustment
• Amount: In SGD with debit/credit indicator
• Date & Time: Exact timestamp of transaction
• Payment Method: Wallet, Razorpay (Card/UPI/Net Banking), Bank Transfer
• Booking Reference: Linked to specific booking (clickable to view details)
• Status: Completed, Pending, Failed, Refunded
• Balance After Transaction: Shows your running wallet balance
• Invoice/Receipt: Direct download links

Filtering & Searching:

The transaction history has robust filters to help you find exactly what you need:

• Date Range: Preset options (Last 7 days, This month, Last month, Custom range)
• Transaction Type: Filter by payment, top-up, refund, etc.
• Payment Method: Show only wallet payments or only card payments
• Status: View only completed transactions or pending ones
• Amount Range: Find transactions above/below certain amounts
• Booking Reference Search: Enter booking ID to see all related transactions

Export Options:

Need this data for accounting? You can export filtered results in multiple formats:

• Excel (.xlsx): Full data with all columns - great for reconciliation
• CSV: Import directly into accounting software (QuickBooks, Tally, Xero)
• PDF: Printable statement format - useful for tax filing or audits

The export includes all visible columns based on your current filters.

Additional Reports Available:

1. Monthly Statement
My Wallet → Monthly Statements
Get a consolidated monthly report showing opening balance, all transactions, and closing balance. Automatically generated on the 1st of each month.

2. Booking-Level Payment Details
My Bookings → Click any booking → Payment Tab
See the complete payment journey for a specific booking: initial payment, partial payments (if applicable), refunds, adjustments.

3. Tax Reports (for GST-registered agents)
My Account → Tax Documents
Download GST-compliant reports with tax breakdown by month/quarter.

4. Credit Utilization Report (for credit customers)
My Account → Credit Terms → Usage Report
See your credit limit, current utilization, aging report (outstanding amounts by due date).

Real-Time Updates:
All transaction records update in real-time. The moment a payment processes, top-up completes, or refund is issued, it appears in your history - no delays or manual refresh needed.

Yes, if you're an existing credit customer, you can definitely request a limit increase. Here's the complete process and what makes a strong application:

Who Can Request an Increase?

• Agents with existing approved credit terms (currently active)
• Minimum 3 months of credit history with us
• Clean payment track record (no overdue payments in last 6 months)
• Growing booking volume that justifies higher limits

How to Request:

1. Log in to your agent dashboard
2. Go to My Account → Credit Terms → Request Limit Increase
3. Fill out the request form with:
   • Current credit limit
   • Requested new limit
   • Business justification (why you need more credit)
   • Updated business documents (if financials have changed significantly)
4. Submit the application

What We Evaluate:

1. Payment History (Most Important!)
We look at your payment discipline over the past 6-12 months:

• Have you paid invoices on time consistently?
• Any late payments? (occasional delays are okay, chronic lateness isn't)
• Any defaults or collections needed?
• How quickly do you respond to payment reminders?

If you've been paying within terms 90%+ of the time, you're in great shape.

2. Booking Volume & Growth

• Average monthly booking value (are you consistently using your current limit?)
• Growth trend (is your business growing?)
• Peak season needs (higher limits for busy months)
• Type of bookings (FIT vs. groups vs. corporate)

If you're regularly hitting 80-90% of your current limit, that's a strong signal you need more headroom.

3. Business Stability

• How long you've been in business (with us and overall)
• Diversification (multiple destinations, client types)
• Repeat business rate (loyal clients vs. one-off bookings)
• Team size and infrastructure (growing agency vs. solo operator)

4. Financial Standing

• Updated bank statements (last 3-6 months)
• Business revenue and profitability
• Other credit references (payment terms with other suppliers)
• Outstanding debts or financial obligations

Typical Increase Amounts:

• Conservative: 25-50% increase (e.g., SGD 10,000 → SGD 12,500-15,000)
• Standard: 50-100% increase (e.g., SGD 10,000 → SGD 15,000-20,000)
• Aggressive: 100%+ increase (rare, usually for exceptional track record + major business expansion)

Review Timeline:

1. Application Received: Acknowledgment within 1 business day
2. Internal Review: Finance team evaluates (3-5 business days)
3. Decision: Approval/denial communicated (5-7 business days total)
4. If Approved: New limit active immediately
5. If Denied: Feedback provided with timeline for reapplication

Tips for Approval:

• Time it right: Apply when your payment history is cleanest, not right after a late payment
• Justify clearly: "I have 3 group bookings (SGD 25,000 total) coming up" is better than "I might need it"
• Update documents: Fresh bank statements (less than 30 days old) look better
• Show growth: If your booking volume has doubled, highlight that
• Start realistic: Asking for 5x your current limit is less likely to succeed than a reasonable 50% increase

What If You're Denied?

We'll provide specific feedback on why and what needs to improve. Common reasons:

• Recent late payments → Reapply after 3 months of on-time payments
• Low utilization → Use your current limit more consistently first
• Insufficient documentation → Provide the requested financial documents
• Business too new → Build more history, reapply in 6 months

Yes, transaction fees vary by payment method. We're completely transparent about this - all fees are shown clearly before you confirm payment, so there are never any surprises. Here's the complete breakdown:

Wallet Payments: 0% (Zero Fees)
This is why we recommend the wallet. When you pay from your wallet balance, there are absolutely no transaction fees. What you see is what you pay - no hidden charges, no percentage cuts. If a booking costs SGD 1,000, you pay exactly SGD 1,000 from your wallet.

Razorpay Payments (Card/UPI/Net Banking):
These fees are charged by Razorpay (the payment gateway), not by us. The fees vary based on payment type:

Credit Cards: 2.5%
Applies to Visa, Mastercard, American Express credit cards.
Example: SGD 1,000 booking = SGD 1,025 total (SGD 25 fee)
Why it's higher: Credit card companies charge the highest interchange fees.

Debit Cards: 1.5%
Applies to Visa Debit, Mastercard Debit, Maestro.
Example: SGD 1,000 booking = SGD 1,015 total (SGD 15 fee)
Lower than credit cards because debit processing costs less.

UPI (Unified Payments Interface): 1%
Popular in India - Google Pay, PhonePe, Paytm UPI, etc.
Example: SGD 1,000 booking = SGD 1,010 total (SGD 10 fee)
This is one of the cheapest digital payment options.

Net Banking: 1%
Direct bank transfers via online banking (50+ banks supported).
Example: SGD 1,000 booking = SGD 1,010 total (SGD 10 fee)
Same rate as UPI - cost-effective for larger amounts.

International Cards: Additional 1%
If you're using a card issued outside Singapore, add 1% cross-border fee.
Example: International credit card = 2.5% + 1% = 3.5% total
Your bank might also charge currency conversion fees separately.

Bank Transfer (Direct Wire): Fee Depends on Amount

• Under SGD 5,000: SGD 15 flat fee
• SGD 5,000 - 9,999: SGD 10 flat fee
• SGD 10,000+: Zero fees from our side

Note: Your bank may charge wire transfer fees (varies by bank). International wires typically cost more than domestic.

How Fees Are Displayed:

We show this very clearly during checkout:

1. You see the booking subtotal (e.g., SGD 1,000)
2. Select payment method
3. Fee automatically calculates and shows (e.g., "Credit Card Fee: SGD 25")
4. Final total is displayed in bold (e.g., "Total to Pay: SGD 1,025")
5. Nothing is hidden - you approve the exact amount before payment processes

Fee Comparison Example (SGD 1,000 booking):

Payment Method	Fee Rate	Fee Amount	Total You Pay
Wallet	0%	SGD 0	SGD 1,000
UPI / Net Banking	1%	SGD 10	SGD 1,010
Debit Card	1.5%	SGD 15	SGD 1,015
Credit Card (Domestic)	2.5%	SGD 25	SGD 1,025
Credit Card (International)	3.5%	SGD 35	SGD 1,035
Bank Transfer (SGD 10,000+)	0%	SGD 0	SGD 1,000*

*Plus any wire transfer fees charged by your bank

Cost-Saving Strategy:

Here's what smart agents do to minimize fees:

• Use wallet for regular bookings → Save 1-3.5% on every transaction
• Top up wallet via UPI/Net Banking → Only pay 1% once when loading, then 0% on all bookings
• Bulk deposits via bank transfer → Load SGD 10,000+ to wallet with zero fees
• Avoid international cards if possible → Use local cards or UPI to save that extra 1%

Example Calculation:
Agent books SGD 50,000/month regularly.

Option 1: Pay each booking with credit card (2.5%)
Fees = SGD 50,000 × 2.5% = SGD 1,250/month in fees

Option 2: Load wallet once via bank transfer (0%), pay from wallet (0%)
Fees = SGD 0/month
Annual savings: SGD 15,000

Our system only processes transactions in Singapore Dollars (SGD), but you can absolutely pay from anywhere in the world using any currency. Here's how it works:

Automatic Currency Conversion
When you use a card or online banking from outside Singapore, your bank handles the currency conversion automatically. You never need to manually convert to SGD - it happens behind the scenes.

Here's the Step-by-Step Process:

1. You see prices on our site in SGD (e.g., SGD 1,000)
2. You proceed to checkout and enter your payment details
3. Our payment gateway (Razorpay) processes in SGD
4. Your bank/card network (Visa/Mastercard) converts SGD to your local currency
5. You're charged in your home currency on your statement

Example (Paying from India):

• Booking cost: SGD 1,000
• Exchange rate that day: 1 SGD = 62 INR
• Your card is charged: approximately ₹62,000
• You see ₹62,000 on your bank statement (not SGD)

Exchange Rates Used:
The conversion rate depends on who processes your payment:

Credit/Debit Cards:
Your card network (Visa/Mastercard/Amex) sets the rate. These are typically:

• Based on wholesale interbank rates
• Updated daily (sometimes multiple times per day)
• Include a small markup (usually 1-3% above the mid-market rate)
• Visible on your card statement when the transaction posts

UPI / Net Banking (International):
Your bank's foreign exchange rate applies. This varies significantly by bank:

• Some banks offer very competitive rates (close to market rate)
• Others charge higher markups (3-5%)
• Check your bank's FX fee schedule

Additional Fees to Consider:

1. Currency Conversion Fee
Many banks charge a separate fee for converting currencies, typically:

• Credit cards: 1-3% of transaction value
• Debit cards: 2-4% (often higher than credit)
• International wire: Fixed fee (e.g., $25-50 per transfer)

2. Cross-Border Transaction Fee
Separate from conversion, some banks charge for international transactions:

• Usually 1-2% of transaction value
• Sometimes a flat fee (e.g., $5 per transaction)
• May be waived on premium cards

How to Know the Total Cost Before Paying:

Method 1: Ask Your Bank
Before making a large payment, call your bank and ask:

• "What's your SGD to [my currency] exchange rate today?"
• "What fees apply to international transactions?"
• "Is there a currency conversion fee?"

Calculate the total to know exactly what you'll pay.

Method 2: Use a Currency Calculator
Sites like xe.com or Google show mid-market rates. Add 2-3% to estimate your bank's rate. Not exact, but gives you a ballpark.

Method 3: Check Your Card Agreement
Your credit/debit card terms document lists all international fees. Look for "foreign transaction fee" or "cross-border fee."

Cost-Saving Tips for International Payments:

1. Use Multi-Currency Cards
Cards like Wise (formerly TransferWise), Revolut, or your bank's international card often have:

• Better exchange rates (closer to mid-market)
• Lower or zero foreign transaction fees
• Transparent pricing

Can save 2-3% compared to regular cards.

2. Open an SGD Account
If you book frequently with us (or other Singapore suppliers):

• Many banks offer multi-currency accounts
• Keep an SGD balance to avoid conversion on every transaction
• Convert larger amounts when rates are favorable

3. Use Business FX Services
For large or frequent payments:

• Services like OFX, Wise Business, or your bank's FX desk offer better rates
• Transfer SGD to our bank account directly
• Can negotiate rates for high volumes

4. Time Your Payments
Exchange rates fluctuate. For non-urgent bookings:

• Monitor SGD exchange rate for a few days
• Pay when the rate is favorable
• Use rate alerts (many banks offer this)

Example Cost Comparison (SGD 10,000 booking from India):

Option 1: Regular Credit Card

• Mid-market rate: 1 SGD = 62 INR → ₹620,000
• Bank's rate (2% markup): 1 SGD = 63.24 INR → ₹632,400
• Foreign transaction fee (2.5%): ₹15,810
• Total cost: ₹648,210

Option 2: Multi-Currency Card (Wise)

• Mid-market rate: 1 SGD = 62 INR → ₹620,000
• Wise fee (0.5%): ₹3,100
• Total cost: ₹623,100
• Savings: ₹25,110 (3.9%)

Option 3: Direct SGD Wire Transfer

• Business FX service rate: 1 SGD = 62.5 INR → ₹625,000
• Wire transfer fee: ₹2,000
• Total cost: ₹627,000
• Savings: ₹21,210 (3.3%)

Credit terms are definitely possible for new agents, but there's a process to follow. We want to ensure a mutually beneficial relationship, which means establishing trust and understanding your business first. Here's the complete roadmap:

The 3-Month Foundation Period

Before applying for credit, we ask new agents to complete a trial period with prepaid bookings. This serves several purposes:

• Demonstrates commitment: Shows you're serious about doing business with us
• Establishes patterns: Helps us understand your booking frequency, volume, and destinations
• Builds trust: We learn your communication style, responsiveness, and professionalism
• Proves viability: Confirms you have actual clients and business flow

Minimum Requirements Before Applying:

1. At least 5 completed prepaid bookings (more is better - 10+ strengthens your application)
2. Total booking value of SGD 5,000+ (shows you're doing meaningful volume)
3. Spread over at least 3 months (demonstrates consistency, not one-off activity)
4. Clean record: No disputed bookings, chargebacks, or service issues
5. Account in good standing: All invoices paid, no pending issues

Documents You'll Need to Prepare:

1. Business Registration Documents

• Company registration certificate (shows legal business entity)
• Business license / IATA/TAAI accreditation (if applicable)
• GST registration (if your country requires it)
• Trade name registration

These prove you're a legitimate, registered business, not a casual reseller.

2. Financial Documents

• Bank statements: Last 6 months of business account transactions
• Financial statements: Profit & loss, balance sheet (last fiscal year)
• Tax returns: Last 1-2 years (business returns)
• Cash flow forecast: Projected next 3-6 months (optional but helpful)

We're looking for financial stability - not necessarily huge profits, but sustainable operations.

3. Trade References

• Contact details of 2-3 other suppliers you have credit terms with
• Hotels, DMCs, tour operators you work with regularly
• Suppliers should confirm your payment discipline

If you're very new and don't have trade references yet, bank references can substitute.

4. Business Profile

• Company overview (when founded, team size, office location)
• Market focus (FIT, groups, corporate, leisure, specific destinations)
• Monthly booking volume estimate
• Growth plans (how do you expect bookings to scale?)

5. Owner/Director Information

• ID proof (passport or national ID)
• Proof of address (utility bill, bank statement)
• Personal guarantee form (standard for smaller agencies)

The Application Process:

Step 1: Request Application Form
After completing your 5+ prepaid bookings over 3 months, email finance@travel-dmc.com with subject "Credit Terms Application - [Your Agency Name]". We'll send you the application form and full document checklist.

Step 2: Complete & Submit Application
Fill out the form thoroughly (incomplete applications delay approval). Attach all required documents as PDFs. Submit via email or upload through your agent dashboard.

Step 3: Initial Review (2-3 days)
Our finance team does a preliminary check:

• Are all documents present?
• Does booking history meet minimums?
• Any red flags?

If documents are missing or unclear, we'll request them at this stage.

Step 4: Credit Assessment (5-7 days)
Detailed evaluation of your application:

• Financial health analysis
• Trade reference verification (we'll contact your references)
• Credit bureau check (if applicable in your country)
• Risk assessment based on business type, location, volume

Step 5: Decision & Terms Offer (7-10 days total)
You'll receive one of three outcomes:

Approved: You'll get a credit agreement outlining:

• Credit limit (typically SGD 5,000-10,000 for new agents)
• Payment terms (usually 15 days from invoice date)
• Interest on late payments (if applicable)
• Review schedule (usually every 6-12 months for increases)

Sign and return the agreement, and credit is active immediately.

Conditionally Approved: Credit offered with conditions, such as:

• Lower initial limit (e.g., SGD 3,000) with review after 3 months
• Shorter payment terms (e.g., 7 days instead of 15)
• Personal guarantee required
• Security deposit (refundable after good payment history)

Declined: We'll explain why and what needs to improve:

• Insufficient trading history → Continue prepaid, reapply in 3-6 months
• Financial concerns → Strengthen financials, reapply when stable
• Negative credit references → Resolve issues with other suppliers first

Declines aren't permanent - address the issues and reapply later.

What Makes a Strong Application?

Beyond the Minimums:

• 10+ bookings vs. 5: Shows consistency
• SGD 10,000+ volume vs. 5,000: Demonstrates real business
• Diverse bookings: Multiple destinations, service types (hotels + tours + transfers)
• Repeat clients: Same client booking multiple times = stable business
• Good communication: Responsive emails, clear documentation, professional interactions

Financial Red Flags to Avoid:

• Consistently low bank balances (suggests cash flow problems)
• Recent bounced checks or overdrafts
• Outstanding tax liabilities
• Negative references from other suppliers
• Very new company (< 6 months) with no trading history

After Approval - Building Your Credit:

Start with a modest limit and grow it:

• Months 1-3: Pay every invoice on time (most critical!)
• Month 3-6: Increase booking frequency/volume
• Month 6: Request limit increase (good chance of approval with clean record)
• Month 12: Negotiate better terms (longer payment window, higher limit)