Foreign Currency Account

[tbs]

Hi,

I am currently looking to open a FX account to keep all my foreign currencies and also from my overseas saving account. I have read about the different threads but actually not sure about the charges.

I am considering the DBS e multi-currencies savers, SC FCY saver, and citibank.

What are some of the fees if i transfer money into the bank account (Foreign to local, local to local and local to foreign), and over the counter services, (deposit and withdrawal)?

Cannot find these fees on the internet.

Thanks!

 

[DBS Bank]

Hi,

I am currently looking to open a FX account to keep all my foreign currencies and also from my overseas saving account. I have read about the different threads but actually not sure about the charges.

I am considering the DBS e multi-currencies savers, SC FCY saver, and citibank.

What are some of the fees if i transfer money into the bank account (Foreign to local, local to local and local to foreign), and over the counter services, (deposit and withdrawal)?

Cannot find these fees on the internet.

Thanks!

Hi there tbs,

We have the DBS Multiplier account, which is an all-in-one multi-currency account that lets you save and transact in SGD and up to 12 foreign currencies.

With the DBS Multiplier account, you can convert SGD to any of the 12 foreign currencies at your convenience through iBanking, and the exchange rate at the time of conversion will be made known to you before you convert.

In terms receiving foreign currency, e.g. inward transfer of USD to your DBS Multiplier account, there's no charge. It'll go into your Multiplier account as USD and will not be converted into SGD. You can decide if/when you want to convert FX to SGD

For sending foreign currency, there are a few options.. there's DBS remit which allows you to send money to 7 countries at $0 transfer fees, usually same day transfer. And there's also the regular Overseas Funds transfer which incurs cable/telex charges and other fees which you can check out here. (https://www.dbs.com.sg/personal/deposits/pay-with-ease/international-transfers)

For local transfers of foreign currency, there's no charges if you're transferring USD into another DBS/POSB Multi-currency account for both parties.

It's really easy to apply for if you're an existing DBS/POSB account holder, just login to iBanking and select 'Apply' and look for the savings account you want to get.

Do note there is a fall-below fee of $5 if your average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances).

Here's the link to the Multiplier account if you wish to find out more. https://www.dbs.com.sg/personal/deposits/savings-accounts/multiplier

 

[tbs]

Any thoughts on citi bank?

 

[OngHuatHuat]

Hi dbs, i have a multiplier account.
Can you teach me how to do giro transfer of usd to Citibank?
I see from the option, there is only sgd available.
And can tell me what are the charges.

Thanks in advance.

Hi there tbs,

We have the DBS Multiplier account, which is an all-in-one multi-currency account that lets you save and transact in SGD and up to 12 foreign currencies.

With the DBS Multiplier account, you can convert SGD to any of the 12 foreign currencies at your convenience through iBanking, and the exchange rate at the time of conversion will be made known to you before you convert.

In terms receiving foreign currency, e.g. inward transfer of USD to your DBS Multiplier account, there's no charge. It'll go into your Multiplier account as USD and will not be converted into SGD. You can decide if/when you want to convert FX to SGD

For sending foreign currency, there are a few options.. there's DBS remit which allows you to send money to 7 countries at $0 transfer fees, usually same day transfer. And there's also the regular Overseas Funds transfer which incurs cable/telex charges and other fees which you can check out here. (https://www.dbs.com.sg/personal/deposits/pay-with-ease/international-transfers)

For local transfers of foreign currency, there's no charges if you're transferring USD into another DBS/POSB Multi-currency account for both parties.

It's really easy to apply for if you're an existing DBS/POSB account holder, just login to iBanking and select 'Apply' and look for the savings account you want to get.

Do note there is a fall-below fee of $5 if your average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances).

Here's the link to the Multiplier account if you wish to find out more. https://www.dbs.com.sg/personal/deposits/savings-accounts/multiplier

 

[DBS Bank]

Hello! Is there interest if I keep USD and EUR in the multiplier account? Thanks!

Hi seanlks,

You can check out the interest rate for Foreign Currency held in the Multiplier/Multi-Currency account here -> https://www.dbs.com.sg/personal/rates-online/multi-currency-accounts.page

 

[DBS Bank]

Hi dbs, i have a multiplier account.
Can you teach me how to do giro transfer of usd to Citibank?
I see from the option, there is only sgd available.
And can tell me what are the charges.

Thanks in advance.

Hi yyhwin,

Unfortunately, GIRO and Standing Instruction and even FAST can only be conducted in local SGD currency.

Let us check on this for you to see if there's a better way to do this.

 

[BeingObjective]

bring up this point, have same queries. I understand that depositing foreign currency in DBS now requires commission, so what better options are there out there?

 

[stjoe1]

Hi DBS,

How to open eMCA plus joint account? Both my wife and I are existing DBS/POSB customers?

How do we request the USD and SGD cheque book? Any charge for the USD cheque book?

Last question: can the SGD account be used for income tax giro, EPS (Electronic Payment for Shares) and to credit dividend from SGX?

Thanks

 

[sgdividends]

Hi there tbs,

We have the DBS Multiplier account, which is an all-in-one multi-currency account that lets you save and transact in SGD and up to 12 foreign currencies.

With the DBS Multiplier account, you can convert SGD to any of the 12 foreign currencies at your convenience through iBanking, and the exchange rate at the time of conversion will be made known to you before you convert.

In terms receiving foreign currency, e.g. inward transfer of USD to your DBS Multiplier account, there's no charge. It'll go into your Multiplier account as USD and will not be converted into SGD. You can decide if/when you want to convert FX to SGD

For sending foreign currency, there are a few options.. there's DBS remit which allows you to send money to 7 countries at $0 transfer fees, usually same day transfer. And there's also the regular Overseas Funds transfer which incurs cable/telex charges and other fees which you can check out here. (https://www.dbs.com.sg/personal/deposits/pay-with-ease/international-transfers)

For local transfers of foreign currency, there's no charges if you're transferring USD into another DBS/POSB Multi-currency account for both parties.

It's really easy to apply for if you're an existing DBS/POSB account holder, just login to iBanking and select 'Apply' and look for the savings account you want to get.

Do note there is a fall-below fee of $5 if your average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances).

Here's the link to the Multiplier account if you wish to find out more. https://www.dbs.com.sg/personal/deposits/savings-accounts/multiplier

What's the over the counter withdrawal fees.in usd?

Cashier order out how much?

 

[Hafi]

What's the over the counter withdrawal fees.in usd?

Cashier order out how much?

lol... I think you'll have faster answer reading their fee and charges PDF then waiting for them to answer you in this thread. That is a year 2016 post you are quoting.

 

[matrix05]

hello DBS, If I have USD in Cash, am I able to deposit into Multicurrency account?

 

[Perisher]

Hi

hello DBS, If I have USD in Cash, am I able to deposit into Multicurrency account?

Paging.