DBS Business Multi-Currency Account

DBS Business Multi-Currency Account

Packed with all the features and services
you need to grow your business

DBS Business Multi-Currency Account

Packed with all the features and services
you need to grow your business


Apply for the account that supports your business growth

Optimised for scaling up your SME

DBS Business Multi-Currency Account

Features

  • 50 free FAST and 50 free GIRO per month for payments made via DBS IDEAL (Includes bulk transactions and payroll)
  • S$30 flat fee for outward telegraphic transfers, excluding agent bank fees
  • Only S$1,000 required as initial deposit
  • Competitive FX rates on FX Online

Fees

  • S$50 annual account fee
  • S$10,000 minimum balance
  • S$40 fall below service charge
  • S$20 charge for over-the-counter transactions
    (This charge is waived till 31 Mar 2022)
  • S$0.75 for every cheque issued
Perfect for lifting off your new business

DBS Business Multi-Currency Account - Starter Bundle

Open only to companies incorporated for less than 3 years

Features

  • Unlimited free FAST and GIRO for payments made via DBS IDEAL. (Excludes bulk transactions and payroll from 1 Apr 2022 onwards)
  • S$30 flat fee for outward telegraphic transfers, excluding agent bank fees
  • Only S$1,000 required as initial deposit
  • Competitive FX rates on FX Online
  • No fall below service charge

Fees

  • S$10 monthly account fee
  • S$20 charge for over-the-counter transactions
    (This charge is waived till 31 Mar 2022)
  • S$3 for every cheque issued

3 great reasons to apply today

  • Be ready for the world today

    With just one account, you can hold SGD and 12 other currencies:
    AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NOK, NZD, SEK, and USD

  • Get your account instantly

    Companies incorporated in Singapore and fully owned by Singaporeans or PRs are eligible for instant account opening upon our approval.

  • Apply in as fast as 5 minutes

    You’ll speed through the online application if you have your company’s UEN, and the contact details of all the account users.

How to open a new business account
1
Get ready

Have your company’s UEN and the contact details of all account users on hand.

2
Complete your application online

Missing some information? You can always save as draft to continue later.

3
Look out for our good news

We'll email your account access info upon successful application.

Frequently asked questions

You’ll probably find the answers you need here. If not, contact BusinessCare for help.

General questions
Should I apply online if I know I’m not eligible for instant account opening?

Absolutely! You can still save time by providing required information online, and then make an appointment with a Relationship Manager to complete your application at any branch.

What documents do I need to prepare to apply for a business account?

No documents are needed for applicants who meet our criteria for instant account opening. For all other applicants, view this checklist. We only require documents after the application has been submitted online. We’ll pick up your documents by courier if you’re arranging to meet a Relationship Manager. For branch appointments, bring the documents when you visit.

I am unable to find my company on the 'ACRA Details' step in the online application form. Why?

Try keying in your company name without 'Pte Ltd', etc. and you should be able to locate your company. Please note that if your company is newly registered, it will take 2 working days before your company details can be retrieved via ACRA search.

Can I still make over-the-counter transactions in person at DBS Bank branches?

Yes, you can. There is a S$20 charge for making over-the-counter transactions at our branches. This charge will be waived till 31 Mar 2022.

 

You can save money by performing payment issuance and collections transactions digitally. To make cash deposits, you can use our cash deposit machines for free.

 

How often are account statements provided?

Monthly account statements are available from the 3rd business day of the following month as eStatements, which you can view on DBS IDEAL online banking platform. With eStatements, you'll never have to wait for your account statements to be printed and delivered through post. You can even view eStatements from as far back as 7 years and decide who within your company has access to them.

DBS Business Multi-Currency Account
Why should I apply for a multi-currency account when I only need to transact in SGD?

With the DBS Business Multi-Currency Account, you can transact in SGD and 12 other currencies. Best of all, you only need to manage all these different currencies from one account.

How can I make use of the 50 free FAST and 50 free GIRO transactions?

You can use the 50 free FAST and 50 free GIRO transactions for payments made via DBS IDEAL anytime during the entire month. You can also make Bulk Payments, and Payroll transactions with them. These free transactions will reset on the 1st of every calendar month. Unused free transactions will not be carried over to the following month.

When you have used up your free transactions before the end of the month, you can continue making transactions at chargeable standard rates.

What does the S$30 flat fee for outward TT (telegraphic transfer) cover?

This flat fee only covers transactions made digitally via DBS IDEAL. It does not include any applicable agent bank fees. If you make outward telegraphic transfers at our bank branch, standard charges as listed on our pricing guide will apply.

Is there a payment schedule for settling the fees and charges of my account?

Annual account fees are debited on the anniversary of the account opening date.

Transactional fees for GIRO, FAST, and TT (telegraphic transfer) transactions made in the previous month are debited on the 22nd of each month, or the next business day if the 22nd is a non-business day.

Do I automatically get to book FX contracts when the account is opened?

First, you need to sign up for FX Online while you’re applying for your business account. Once your account is opened, you can book FX contracts at competitive rates on FX Online, through DBS IDEAL online banking platform.

DBS Business Multi-Currency Account—Starter Bundle
Am I missing anything if I apply for this Starter Bundle?

Absolutely not! You’re getting the same DBS Business Multi-Currency Account that supports 13 currencies. If your business is a young enterprise or start-up, you would be happy to know that the Starter Bundle was specially created to support your budding company with affordable and accessible banking services.

Can you consider my application for Starter Bundle if my company has been incorporated for more than 3 years?

We’re afraid you would have to apply for DBS Business Multi-Currency Account instead.

Can I apply for Starter Bundle for my new business even though I already have a DBS business account?

Yes. If your new company has not been incorporated for more than 3 years on the date of the account application, it qualifies for the Starter Bundle.

Do I need to switch to another account when my company reaches its fourth year of incorporation?

No, you need not. You can continue with this account for as long as it meets your business needs.

How can I make use of the unlimited free FAST and GIRO transactions?

You can make as many FAST and GIRO payment transactions as you need for free. These payment transactions must be made via DBS IDEAL. From 1 Apr 2022 onwards, unlimited free FAST and GIRO payment transactions for the Starter Bundle excludes Bulk Payments or Payroll transactions —these are chargeable at standard rates as listed on our pricing guide.

What does the S$30 flat fee for outward TT (telegraphic transfer) cover?

This flat fee only covers transactions made digitally via DBS IDEAL. It does not include any applicable agent bank fees. If you make outward telegraphic transfers at our bank branch, standard charges as listed on our pricing guide will apply.

Is there a payment schedule for settling the fees and charges of my account?

Monthly account fees are debited on the last working day of the month.

Transactional fees for GIRO, FAST, and TT (telegraphic transfer) transactions made in the previous month are debited on the 22nd of each month, or the next business day if the 22nd is a non-business day.

Do I automatically get to book FX contracts when the account is opened?

First, you need to sign up for FX Online while you’re applying for your business account. Once your account is opened, you can book FX contracts at competitive rates on FX Online, through DBS IDEAL online banking platform.