Cash and Accounts

Corporate Multi-Currency Account

1 account, 13 currencies

The DBS Corporate Multi-Currency Account (MCA) is a single account with which you can manage up to 13 currencies. It is an efficient and cost-effective solution for you to maintain balances and perform transactions in different currencies.

Ease of account opening and management – Each supported foreign currency wallet will be automatically created when the funds are received

Reduce currency conversion costs – You can offset flows in the same currency and have flexibility in managing currency conversions at your own schedule

Real time visibility – Automatic linkage of currency wallets in DBS IDEAL™ for transaction initiation and reporting

FAQs

What are the currencies offered under Corporate Multi-Currency Account?

The 13 currencies offered are SGD, USD, AUD, CAD, CNH, HKD, NZD, GBP, NOK, SEK, CHF, EUR and JPY. You will receive the SGD wallet automatically. CNH will be available only upon your submission of the RMB Declaration Form.

Can I choose a currency other than SGD (default Charge Currency) to be charged for Fall Below Fee and Annual Account Service Fee?

Yes, you may choose one of the other twelve currencies to be the Charge Currency. Where you select a non-SGD Charge Currency, that wallet will be charged the SGD equivalent fees based on our currency exchange rate in force at the time.

When will a currency under a Corporate Multi-Currency Account be activated?

If you open a Corporate Multi-Currency Account, a Singapore dollar wallet will be automatically added under this account. We will add a foreign currency wallet when:

  1. you receive funds in that foreign currency;
  2. you apply for and we grant you an overdraft limit in that foreign currency;
  3. you select that foreign currency as your Charge Currency; or
  4. we make available to you certain facility or service or in any other case where we deem is necessary or desirable for that foreign currency wallet to be added.
Can I request the Bank not to activate certain currencies under a Corporate Multi-Currency Account?

Yes, you may opt-out of any currency except SGD. You will need to indicate the same in section 4 of the Application Form or the Currency Opt-In and Opt-Out Form.

Can I view all currencies under a Corporate Multi-Currency Account in my account statement?

Yes, you will receive an all-in-one MCA statement. It will contain balances and transaction details for all currencies activated.

Can I view all currencies of a Corporate Multi-Currency Account on DBS IDEAL™?

Yes. Please ensure that you have access to DBS IDEAL™ for your Corporate Multi-Currency Account. All currencies activated will be added automatically for viewing and/or transacting in DBS IDEAL™.

Can I close certain currencies under a Corporate Multi-Currency Account?

No, an activated wallet cannot be closed unless the Corporate Multi-Currency Account is closed.

How will interest payments and charges be done?

They will be independently calculated for each currency wallet under a Corporate Multi-Currency Account based on our prevailing interest rates applicable to each relevant currency.

 

How do I apply?

Simply call us at 1800 222 2200, or +65 6222 2200 if you are calling from overseas to apply. Alternatively, please speak with your relationship manager.

 

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$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Get In Touch

DBS BusinessCare 1800 222 2200

Get In Touch

DBS BusinessCare 1800 222 2200