NewbieCan I ask about Instant Multi Currency Account here?
I added a new account according to the guidance that popped-up on the screen of DBS digibank smartphone app.
I understand the account is for a multi-currency account.
But at this moment, I want to reconfirm what kind of account it is exactly.
(1)How much does it cost to keep the Multi Currency Account?
(2)How can I close this Multi Currency Account?
HeyAnna Boss administrators
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Hi @mmm , we can't view your account info on this channel but based on what you've shared, the account can either be a My Account or a DBS Multiplier. Both are Multi-Currency Accounts.
In terms of cost to keep the account open, there's no account fee for the DBS Multiplier Account. What you need to maintain is a S$3,000 average daily balance (ADB) in order to avoid the S$5 fee.
The My Account does not have a minimum ADB to maintain and there's a S$2 monthly fee with a paper statement.
Here's the deposit guide for your reference. You can refer to the sections dedicated to DBS Multiplier and My Account.
If you want to close the account, you can actually do this online on digibank. Here's another guide for that!