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Anonymous
Hi I have some foreign currency notes on hand and is looking to bank in to my DBS MCA. Is there a way to deposit these notes (eg. USD, HKD, EURO) without incurring any bank charges?
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Ivan Guan
07 Sep 2021
Founder at SGMoneyMatters.com
I am also interested in knowing if any bank has less charges? how about USD cheque?
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Tan Choong Hwee
07 Sep 2021
Solutions Specialist at Providend
There will be foreign currency deposit commission (USD/EUR 1.5%, HKD 3%, min SGD10), refer to DBS de...
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Deposit usually free or handled by the depositing part via remittance fee. DBS has no charges but youโre at the mercy of their bid spread which can be quite wide.
You can consider deposit into an online broker like SAXO, IBKR, Tiger or Moomoo and swap to SGD before transferring back to your sgd account.