Are there any downsides to the Multiplier Account? - Seedly


DBS Multiplier

DBS Vickers Securities

DBS Multi Currency Account

Bank Account

Asked by Ang Bing Xian

Asked on 15 Jul 2018

Are there any downsides to the Multiplier Account?

A Multi-Currency Account (MCA) was created automatically when I created my DBS Vickers trading account. However DBS Multiplier Account appears to do everything MCA does and has better interest rates.


Answers (5)

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Yes you are right, DBS Multiplier is just a DBS MCA with steroid at higher interest rate.

I don't see any downside except the min 3k balance or else with admin charges and the higher interest rates (eg.1.85%) comes at the cost that one must do 2 types of transactions with DBS.


Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Answered on 23 Sep 2018

The only downside I can think of is that it has a fall below fee if you have less than $3000 daily average balance in your account!



Short Answer

The Multiplier Account is A High Yield Savings Account that increase the interest rate bases on the criteria fulfilled.

The downside is not fulfilling any of the criteria when this account is not suitable for u other then the normal $1k base amount and $2 monthly deduction due to tt.

Multi Currency Accounts works like a currency wallet and is useful when you have transaction other the SGD.

There are waiver now but don't ignore the accounts you dun need.

Is best to close accounts that are not required after the penalty period.




  • Fall-below fee of S$5 if average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances). This fall-below fee is waived for you up until 29 years old.4
  • Early closure fees of S$30 if account is closed within 6 months.


  • higher interest rate !
  • Join the Facebook burrow for additional perks and community support
  • single sign on to DBS vickers
  • clearance of stock payments directly from multipler

I love how it allows us to bank in a more seamless manner


Teoh Zetong
Teoh Zetong
Level 3. Wonderkid
Answered on 19 Jul 2018

It's just a higher-interest savings account, so it behaves like normal savings account.

One downside I could spot is the fall-below-service-fee they charge. DBS Multiplier's minimum average $3000 or they will start charging you $5, whereas the normal savings account is just $1000.

If you don't wish to park $3000 there, you might want to close the account. I don't use Vickers.