facebookSending USD from Tiger to DBS multi currency account - Seedly

Advertisement

Anonymous

25 May 2021

General Investing

Sending USD from Tiger to DBS multi currency account

Does anyone know if I can transfer the USD in my Tiger app into DBS multi currency account and then transfer it into Moomoo?

Discussion (2)

What are your thoughts?

Learn how to style your text

Yes, no problem.

However, do take note you need to select currency as USD before sending.

thefrugalstudent

24 May 2021

Founder at thefrugalstudent.com

Hi Anon,

It is possible to, but I would advise against it. The reason is that the only way to do local transfers in foreign currency is via TT, which almost always incurs an upfront fee from banks as high as $25 per transfer. Unless you're making a transfer of a huge sum of USD, it's unlikely that that this fee is going to be more worth it than suffering FX losses twice (USD to SGD in Tiger, then SGD to USD in Moomoo). So it's usually better to just do the latter.

Regards,
thefrugalstudent

Write your thoughts

Advertisement