How does DBS multi-currency account work?

How does DBS multi-currency account work?

If your My Account is linked as the primary account to your DBS Visa Debit Card, foreign currency purchases made online and overseas will automatically be debited from your account’s respective foreign currency funds without any foreign exchange conversion fees. This also applies to overseas ATM withdrawals.

Is DBS my account a multi-currency account?

At a Glance Access 12 foreign currencies and the Singapore dollar conveniently with one account wherever you are, 24/7. Pay in multiple currencies for your overseas and online shopping with your linked DBS Treasures Visa Debit Card in up to 11 foreign currencies* with no foreign exchange fees.

What is the minimum balance for DBS multi-currency account?

DBS Account

Account Type Minimum Average Daily Balance (MADB)
DBS Savings Account (Opened from 12 September 2011) S$1,000
DBS Multiplier Account* S$3,000
DBS eMulti-Currency Autosave Account* DBS Multi-Currency/eMulti-Currency Autosave Plus Account* DBS eAutosave Account DBS eAutosave Plus Account DBS Current Account S$3,000

Is DBS multi-currency account free?

While there are certain fees associated with the account, the DBS MCA features themselves are free to use. The Multiplier Account has a fall-below fee of S$5 per month if the average daily balance for the month is below S$3,000 (or its equivalent in available foreign currencies).

Can I transfer money from multi-currency card to bank account?

Check your forex card balance online, as checking balance in ATMs is chargeable. Even though you can check your forex card balance online, but you can’t transfer funds from your forex card to your bank account. Most forex cards levy a fee per ATM withdrawal abroad, there is also a limit to your daily withdrawal.

Can I withdraw money from DBS multiplier account?

Can I withdraw cash from the ATM from my DBS Multiplier account using my credit card? It is possible, no problems at all withdrawing cash using DBS Altitude Credit Card when it is linked to a Multiplier account.

How does a multi currency account work?

A multi-currency bank account is a type of bank account, which allows you to receive, pay, and hold multiple currencies. With a multi-currency account, you may deposit and withdraw cash in different currencies. You need not open separate accounts in respective countries for each currency you deal with.

How much deposit do I need to open a DBS account?

No initial deposit required. No monthly account fees. If this is your first account with us, open online now and there will be no minimum average daily balance required. Service charge of S$5 if average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances).

What is the best multi-currency account?

DBS, Citibank, and HSBC are your best options if you’re looking to open a foreign currency account with a high street bank. They all let you hold major currencies including USD, GBP, EUR, AUD, etc (10+ currencies supported), and DBS even offers a multi-currency debit card that would be helpful for frequent travelers.

How does the DBS multi currency account work?

How it works is simple: you open an account and tag your DBS Visa debit card to it. You then transfer your SGD into any of the 12 currencies supported.

Can a DBS multiplier account work like a MCA?

In fact, the DBS Multiplier Account works like a MCA as well, which means you can deposit various currencies, including both SGD and USD deposits in one DBS Multiplier Account! Be sure to open the DBS Multiplier Account so that you can get even more out of your stock transactions with DBS Vickers.

Can a corporate multi currency account be deactivated?

Yes, but ensure that you have access to DBS IDEAL for your Corporate Multi-Currency Account. All currencies activated will be added automatically for viewing or transacting in DBS IDEAL. Can I deactivate certain currencies?

How much money do you need to open a DBS account?

Open your account with a minimum S$3,000 or equivalent Simply log in to DBS IDEAL to view or download your account statements. Singapore dollars (SGD) and 12 foreign currencies including USD, EUR, HKD and AUD.

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