Open My Account - Multi-Currency Account for foreign currency needs

My Account - Instant Multi Currency Account Opening

At a GlanceMy Account is a digital multi-currency bank account that makes banking simple. You can save, spend, invest and tailor different banking services to meet your financial needs and bank the way you want.

All the banking services you need for life

Pay bills, exchange currencies, perform overseas funds transfers, invest globally and plan for your retirement all from one place.

Your go-to account for foreign currencies

Access 13 currencies instantly via digibank at attractive exchange rates with no FX conversion fees.

No account fees

No minimum balance, no initial deposits, no service charge.

Apply now

Set up your travel walletExchange currencies with no FX conversion fees and earn cashback easily!Simply set up your travel wallet by making My Account the primary multi-currency account linked to your DBS Visa Debit Card.Learn more about your travel wallet.

Eligibility & Fees

Service Charge	S$0
Account Fee	No account fee for customers on eStatement $2 per month for customers with paper statement¹
Deposit/withdrawal in foreign currency notes	Please refer to Deposits Guide for the applicable fees. Fees apply for deposit/withdrawal in the same foreign currency.
Minimum age	No age restriction
Initial deposit	Not required

¹Account fee is waived if you are 16 years old and below

Please refer to the Deposits Guide for the list of applicable fees.

Documents Required for Account OpeningRefer to the documents required for account opening before you proceed.

Apply for a personal My Account instantly on digibank appSingaporeans, Permanent Residents, and Foreigners (EP/SP/DP /Long Term Visit Pass/Student Pass) can open a personal My Account instantly with Singpass. Applicant must be 16 years old or above.Download digibank app

Download digibank app

Register for Singpass here

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.

For foreigners: Have your FIN number and Singapore (+65) mobile number ready.

Unable to register for Singpass

On digibank app, select “Continue without Singpass” and upload the supporting documents.

Learn how to set up My Account with Singpass.

Open a Joint-Alternate My Account

Joint-Alternate My Account

Both applicants must be 16 years old or above.

Apply here

Joint-Alternate My Account with your child

Main applicant must be 16 years old and above.
Child must be below 16 years old.

Find out more

General

Why do I need to download DBS digibank app to open an account?

If you are a new DBS / POSB customer, you can open your personal My Account via the digibank app. With just one application, you can open a personal My Account, obtain a debit card, and set up PayNow all at once.

For further assistance, simply drop us a note here and our service team will contact you at your preferred date and time.

Is My Account a multi-currency account?

Yes. My Account is a multi-currency account.

What are the currencies I have access to with My Account?

With My Account, you have access to 12 foreign currencies and the Singapore dollar. The 12 foreign currencies are:

Australian Dollar (AUD)
Canadian Dollar (CAD)
Chinese Renminbi (Offshore) (CNH)
Euro (EUR)
Hong Kong Dollar (HKD)
Japanese Yen (JPY)
New Zealand Dollar (NZD)
Norwegian Kroner (NOK)
Sterling Pound (GBP)
Swedish Kroner (SEK)
Thai Baht (THB)
US Dollar (USD)

You can also exchange these currencies conveniently at prevailing rates.

Are there any fees or minimum balance that come with My Account?

My Account comes with zero service charge and no requirement on maintaining a minimum balance.

There is a S$2 account fee per month for customers who are not enrolled to electronic statements and receiving paper statements. The account fee is waived for customers up to 16 years old or who are enrolled to electronic statements.

How can my child own a personal account?

Your child is required to be 16 years old on the date of application. To apply for a personal deposit account, your child can open one via digibank mobile app.

The following actions should be carried out by your child.

Apply for first account with DBS/POSB.

Click here to get started.

Has an existing deposit account with DBS / POSB and has digibank access.

digibank app

Can I convert the Joint-Alternate My Account for Kids to a personal account for my child?

Joint-Alternate My Account for Kids cannot be converted to a personal account. Your child can apply for a personal account separately via digibank online or mobile app once they are 16 years old on the date of application.

If your child has digibank access

Your child can:

digibank app

If your child has no digibank access

Please refer to the FAQ point above on how to apply for access.

How is interest calculated?

Interest is computed daily and credited at the end of every month.

How do I get a chequebook?

My Account does not come with a chequebook facility. We recommend that you use PayNow or FAST to conduct local funds transfer via the DBS digibank app or digibank online.

Learn More

However, if you still need a chequebook, you will need to apply for an eMCA+ Account online.

Card

Can I link my My Account to a DBS Visa Debit Card for multi-currency spend? What are the eligible DBS Visa Debit Cards to be linked to My Account?

Yes, your My Account can be linked to an eligible DBS Visa Debit Card to enable you to transact directly in foreign currency without conversion fees.

The eligible DBS Visa Debit Cards are:

How do I link my eligible DBS Visa Debit Card to my My Account?

For digibank mobile, please:

Log in to digibank mobile
Upon successful login, tap “More”
Under “Manage Cards & Loans”, select “Link Card to Account”
Select the Card you wish to link your My Account to
Verify the details and tap “Confirm” to complete the card linkage

For digibank Online, please:

Log in to digibank Online
Under “Cards”, select “Link Card to Deposit Account for ATM Use”
Select the Card you wish to link your My Account to
Verify the details and click “Submit” to complete the card linkage

How many foreign currencies can I transact with my primary linked DBS Visa Debit Card?

There are 11 available foreign currencies:

Australian Dollar (AUD)
Canadian Dollar (CAD)
Euro (EUR)
Hong Kong Dollar (HKD)
Japanese Yen (JPY)
New Zealand Dollar (NZD)
Norwegian Kroner (NOK)
Sterling Pound (GBP)
Swedish Kroner (SEK)
Thai Baht (THB)
US Dollar (USD)

Renminbi Offshore (CNH) is not available for the card feature.

Will my foreign currency funds be debited automatically when I spend using my linked DBS Visa Debit Card?

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.

Note: The respective Multi-Currency Account (MCA) foreign currency wallet must contain sufficient funds prior to making a transaction. Only then will your transaction be automatically debited from the respective foreign currency wallet without any foreign exchange conversion fees. Please ensure that your DBS Visa Debit Card is primary linked to your MCA and the correct currency is selected at point of transaction. Please also note that in some cases, depending on how the merchant processes your transaction, your transaction may be billed to you in another foreign currency other than the local currency.

What should I select on the overseas ATM for foreign currency cash withdrawals using my primary-linked DBS Visa Debit Card?

Generally, overseas ATM withdrawals will be automatically deducted from your primary account. However, if prompted, please select "Checking/Current Account" to withdraw foreign currency cash overseas from your My Account using your linked DBS Visa Debit Card.

Please ensure you have sufficient foreign currency funds in your account prior to withdrawal. Otherwise, the foreign currency cash withdrawal will be deducted from your SGD wallet.

I have my My Account opened, but I don’t have my Visa Debit Card yet. How can I get my Visa Debit Card?

Click here to apply online for a Visa Debit Card instantly and it will be mailed to you within 5 working days.

Alternatively, you can log in to DBS digibank app and tap on ‘More’ followed by ‘Cards’.

Note:
– Foreign currency transactions are subject to exchange rate fluctuations, which may result in capital gains or losses; such accounts may also be subject to exchange controls imposed on the currency held.
– Please note that in some cases, depending on how the merchant processes your transaction, your transaction may be billed to you in another foreign currency other than the local currency.Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$100,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.