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mmm Can 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?
Best regards.
Replies
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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.
https://www.dbs.com.sg/iwov-resources/pdf/deposits/DBS_deposit_guide.pdf
If you want to close the account, you can actually do this online on digibank.
Here's another guide for that!https://www.dbs.com.sg/personal/support/bank-account-closure.html
