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Special purpose accounts
Conveyancing Account
Safeguard conveyancing money with a customised account for law firms
Keep your client’s conveyancing money safe with a DBS Conveyancing Account, meant specifically for law firms. As a bank appointed by the Ministry of Law, we safeguard conveyancing money and issue pay outs on your behalf.
Why choose DBS Conveyancing Account?
- Deposit conveyancing money conveniently with DBS. With more than 80 DBS and POSB branches, we have the largest banking network in Singapore
- Collect your cashier’s orders with ease at five conveniently located branches island wide (Marina Bay Financial Centre, Raffles City, Raffles Place, South Bridge Road and Toa Payoh branches)
- Leverage our experienced staff for guidance and advice. DBS was a pioneer in Singapore’s initial conveyancing pilot programs
FAQs
I already have a Conveyancing Account with another bank. Can I still open one with DBS?
Yes. You can open more than one Conveyancing Account across appointed banks. There is no limit to the number of conveyancing accounts you may hold.
Can I select any Business Account from which Conveyancing Account transaction charges will be deducted?
Yes, you can designate one DBS Business Account under the same law firm. Please note all transaction charges will be deducted from that account.
I do not have a DBS Business Account. Can I choose to deduct the transaction charges from the conveyancing account instead?
No, charges must be deducted from a DBS Business Account.
When and where will I be able to collect my cashier’s order?
Your cashier’s order will be ready for collection on the collection date and branch you have stated on the pay out form. If you did not indicate a preferred branch, your cashier’s order will be directed to DBS Marina Bay Financial Centre for collection. Other branches available for collection are Raffles City, Raffles Place, South Bridge Road and Toa Payoh branches. Please note that the expected collection date has to be at least one working day later than the date of submission of the pay out form.
Who can we refer to for an explanation on the legislation and changes?
Please refer to the Ministry of Law website for more information.
How do I apply?
Please visit any of the following DBS branches to open a conveyancing account: Marina Bay Financial Centre, Raffles City, Raffles Place, South Bridge Road and Toa Payoh branches.
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.
Not a DBS SME Banking customer? Enjoy IDEALTM set-up and monthly fee waivers* by starting your DBS Business Account application online. This service is available to Sole Proprietorships, Partnerships, Limited Liability Partnerships and Private/Limited Companies.
*Terms & Conditions apply
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