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Old 25-03-2013, 11:50 AM   #1
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DBS Multi-currency

I am thinking of opening a DBS Multi-currency account so as to put a small amount in different currency with main purpose of getting better interest rates and small FX gain.

Does the DBS MCA offer the best rates among all the bank and is there any transaction cost? As I am existing DBS customer, advantage is one less 2FA token card.
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Old 25-03-2013, 09:46 PM   #2
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bookmarked this thread first. i ish also looking at it.
APPARENTLY, you can draw out cold hard foreign notes at NO spread.

i'm re-checking with DBS on this. tbc...
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Old 25-03-2013, 11:09 PM   #3
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bookmarked this thread first. i ish also looking at it.
APPARENTLY, you can draw out cold hard foreign notes at NO spread.

i'm re-checking with DBS on this. tbc...
i told my mum the other day about this and she think i am CSB.
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Old 25-03-2013, 11:43 PM   #4
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i told my mum the other day about this and she think i am CSB.
I told my Mom I got 1k per month dividends, she also said I CSB.....

Until I showed her my CDP statement.....

Sighz....parents.......
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Old 26-03-2013, 06:02 PM   #5
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bookmarked this thread first. i ish also looking at it.
APPARENTLY, you can draw out cold hard foreign notes at NO spread.
NO spread? is it really true?

you take some banks take more. thats how they operate.
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Old 26-03-2013, 06:17 PM   #6
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dbs has yet to reply. I remain unconvinced, hence re checking with them.
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Old 26-03-2013, 06:29 PM   #7
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dbs has yet to reply. I remain unconvinced, hence re checking with them.
Later they reply you with 2 words "Honest Mistake".
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Old 26-03-2013, 08:53 PM   #8
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Cool. No spread is amazing, but if it is too good to be true... then they are making it back from somewhere.
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Old 27-03-2013, 09:34 AM   #9
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Sorry Bros, i'm lost here. No spread means? DBS Multi-currency account have many categories, which one are we looking at? what is the minimum amount to put in? Thanks
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Old 27-03-2013, 09:53 AM   #10
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Buy and sell rate from bank = spread?
Isn't bank rate are quite bad in terms of buy and sell rate?
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Old 27-03-2013, 10:58 AM   #11
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Sorry Bros, i'm lost here. No spread means? DBS Multi-currency account have many categories, which one are we looking at? what is the minimum amount to put in? Thanks
DBS Multi-Currency Autosave (MCA)

Most basic one don't have, but the plus will need to maintain 3k.

http://www.dbs.com.sg/Resources/pers...osit_guide.pdf

If you wish to convert an amount in a foreign currency
into another foreign currency, we will convert to S$ equivalent and then re-convert to the foreign currency at prevailing exchange rates.
which means

DBS Singapore | Rates Online | Foreign Currencies | Foreign Exchange

I seriously doubt there is no spread, but it is just how much.
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Old 27-03-2013, 11:55 AM   #12
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DBS Multi-Currency Autosave (MCA)

Most basic one don't have, but the plus will need to maintain 3k.

http://www.dbs.com.sg/Resources/pers...osit_guide.pdf



which means

DBS Singapore | Rates Online | Foreign Currencies | Foreign Exchange

I seriously doubt there is no spread, but it is just how much.
What is a spread?
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Old 27-03-2013, 01:29 PM   #13
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What is a spread?
Difference between the buying rate and selling rate.
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Old 27-03-2013, 02:53 PM   #14
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If no spread the bank will lose money

Maybe for small amount is possible but I doubt it's possible for big amount like USD100k and above
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Old 27-03-2013, 03:09 PM   #15
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If no spread the bank will lose money

Maybe for small amount is possible but I doubt it's possible for big amount like USD100k and above
Usually the spread makes foreign deposit unattractive right?
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