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Old 08-01-2018, 02:40 AM   #406
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interest in already? i check mine still nothing ley...........
this is MCA thread.. not multiplier

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Old 08-01-2018, 01:36 PM   #407
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Oh sorry, hahah
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Old 12-01-2018, 02:48 PM   #408
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Transfer SGD to MCA

Hi,
Would like to know is it possible to park some SGD to Multi Currency account and later when the rate is good then internal convert to the foreign currency within MCA itself? Please advise. Thanks
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Old 12-01-2018, 02:54 PM   #409
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Hi,
Would like to know is it possible to park some SGD to Multi Currency account and later when the rate is good then internal convert to the foreign currency within MCA itself? Please advise. Thanks
Yes. That is one of the most common use of the MCA. However, note that if your MCA is the DBS multiplier account, the amounts in foreign currency will not get the bonus interest, only get the small % of interest depending on the currency.
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Old 12-01-2018, 05:40 PM   #410
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Perhaps opening a FCFD would be better for the higher interest rates?

Shortest period is 1 month.

I'm considering doing this as holding some USD from selling stocks that I don't intend to change to SGD at this rate yet.

But commission and fees will eat into any potential return.

Last edited by Jazzbie; 12-01-2018 at 05:48 PM..
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Old 12-01-2018, 10:49 PM   #411
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Yes. That is one of the most common use of the MCA. However, note that if your MCA is the DBS multiplier account, the amounts in foreign currency will not get the bonus interest, only get the small % of interest depending on the currency.
Mine is the Multi currency account, Can you help to advise once SGD is transferred to my Multi currency account is SGD, but how can I convert it to Foreign dollars within my Multi currency account when the rate turns good?
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Old 12-01-2018, 11:01 PM   #412
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Mine is the Multi currency account, Can you help to advise once SGD is transferred to my Multi currency account is SGD, but how can I convert it to Foreign dollars within my Multi currency account when the rate turns good?
https://www.dbs.com.sg/personal/support/bank-ssb-exchange-foreign-currencies.html
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Old 13-02-2018, 10:55 PM   #413
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Wanted to ask, if you withdraw through Visa, USD currency into your DBS multi-currency account, will the amount appear in USD? Are there also any charges through this way?
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Old 14-02-2018, 09:02 AM   #414
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Apparently, when I tried to make an internet withdrawal through DBS Visa debit into my multi-currency account, the ****ing bank declined the withdrawal to put the money into my bank account. Now my money seems to have vanished. If the bank declines my withdrawal, will my money return back to the sender?
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Old 14-02-2018, 09:09 AM   #415
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DBS multiplier is better as it is a multi currency account and gives higher interest if you fulfil the credit salary and invest/credit card spend/insure/mortgage criteria.
Are there any drawbacks of multiplier account Vs multicurrency account, like higher TT fees or something? It appears multiplier account is a win win as it is multicurrency as well as high interest?

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Old 14-02-2018, 09:14 AM   #416
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Apparently, when I tried to make an internet withdrawal through DBS Visa debit into my multi-currency account, the ****ing bank declined the withdrawal to put the money into my bank account. Now my money seems to have vanished. If the bank declines my withdrawal, will my money return back to the sender?
Hm. Are you trying to do a cash advancement? Never do that as it will incur hefty fees and interests.
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Old 14-02-2018, 09:18 AM   #417
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Are there any drawbacks of multiplier account Vs multicurrency account, like higher TT fees or something? It appears multiplier account is a win win as it is multicurrency as well as high interest?

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Think no drawbacks. Should go for multiplier instead of multicurrency unless POSB cashback bonus is preferred over multiplier.
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Old 14-02-2018, 09:33 AM   #418
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Think no drawbacks. Should go for multiplier instead of multicurrency unless POSB cashback bonus is preferred over multiplier.
Thanks!

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Old 14-02-2018, 01:43 PM   #419
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Are there any drawbacks of multiplier account Vs multicurrency account, like higher TT fees or something? It appears multiplier account is a win win as it is multicurrency as well as high interest?

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get multi currency autosave only if you have the need to regularly issue SGD or foreign currency cheques.. otherwise just get the multiplier will do.

side track abit. the new UOB Mighty FX account exchange rates are really impressive.

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Old 14-02-2018, 02:20 PM   #420
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get multi currency autosave only if you have the need to regularly issue SGD or foreign currency cheques.. otherwise just get the multiplier will do.

side track abit. the new UOB Mighty FX account exchange rates are really impressive.

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Thanks. I have DBS cashline account, I can issue cheques using that and do a fast transfer from DBS multiplier to keep the balance non negative.

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