My Account - Open Multi Currency Account Instantly | POSB Singapore (2024)

FAQs

Can I deposit USD in my DBS account? ›

Foreign currency can be held in a multi-currency account like DBS Multiplier or DBS My Account but placing it in an FCFD will offer more attractive interest rates.

Your application will be processed within 3 working days after we receive your complete application. Once approved, you will receive your debit card within 3-5 working days then proceed with the following steps: Activate your debit card. Learn more on how to Activate New Card.

Apply for a personal My Account instantly on digibank app

Applicant must be 16 years old or above. Your Singpass should be ready to use once your Personal details are displayed in your Singpass mobile app. Pro tip: Select Face Verification for instant registration.

A multi-currency account allows you to save, send and receive Singapore dollars and other foreign currencies in a single account. This makes international transactions easier when banking abroad.

Yes. 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.

Documentation requirements include a valid passport, employment pass, and possibly secondary ID like a utility bill or employer letter. Top banks in Singapore for foreigners include DBS Bank, United Overseas Bank (UOB), and Oversea-Chinese Banking Corporation (OCBC), offering various account types and services.

Non-residents of Singapore and foreigners are eligible to apply for the Singapore international bank account (for personal use) remotely.

To open a bank account, you must provide proof of identity, such as an up-to-date passport or national ID, proof of residence, and hold a Long-Term Visit Pass, Letter of Employment, or Admission.

WaFd Bank, named Best Big Bank by Newsweek three years in a row, offers top-rated checking accounts you can open in just minutes. We also offer Small Business and Commercial accounts.

What is fast in Singapore banking? ›

FAST (Fast And Secure Transfers) is a new electronic funds transfer service that enables customers of the participating banks to transfer Singapore Dollar funds from one bank to another in Singapore almost instantly.

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 currencies¹ with no foreign exchange fees.

DBS Corporate Multi-Currency Account is an efficient and cost-effective solution for you to maintain balances and perform transactions in different currencies.

Can I open a USD account in Singapore? Yes, you may open a USD Account if you are based in Singapore.

The short and simple answer is – yes, you can, but there's a catch. In this article, we'll explore how to do it, what the process entails, and why you may not want to do it, especially if you are running a business.

Yes, you can deposit USD in what are called FCNR accounts but No, you will not get the same interest rates in USD what you will get in INR. To check USD deposit rates, search for FCNR account rates. To check INR deposit rates, search for NRE/NRO Fixed Deposit rates.

It ensures that you can send, receive, and transfer funds in foreign currencies such as Dollars, Pounds, Euros, and Yen from the comfort of your home or office.

The Reserve Bank of India allows Indian citizens to receive foreign remittances into their savings bank account without any restrictions (apart from remittance under the Foreign Contribution Regulation Act, 1976). However, the receiving method may vary.