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DBS Multi Currency Account

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TransferWise

Promo Codes

DBS Multi Currency Account

Anyone has Transferwise referral?
Kenneth Sim
Kenneth Sim
Level 4. Prodigy
Updated on 12 Jun 2020
⭐️ Hi, you can use this 2020 Transferwise referral code https://transferwise.com/invite/u/samsudinn1 Get a free international transfer of up to S$900! 2020 latest Transferwise referral sign up promo code
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Forex (FX)

DBS

Salary

DBS Multi Currency Account

Savings

Savings Accounts

If I have an incoming income in USD from a company’s DBS account and I gave them my DBS MCA account, would I be charged Telegraphic transaction fee?
Generally payable Best to ask DBS not here https://www.dbs.com.sg/personal/deposits/pay-with-ease/international-transfers
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SAXO Capital Markets

SAXO Markets

DBS Multi Currency Account

Multi Currency Cards

Should I perform my currency exchange using MCA or Saxo?
Malvin Tan WP
Malvin Tan WP
Level 5. Genius
Answered 4w ago
It would depend on the ultimate use case of the foreign currency, many atimes the misc fees would outweigh the savings in exchange rate spread. misc fees include TT fee, cheque book and sometimes if you need open a new foreign currency current account to hold your foreign currencies then theres consideration of the minimum balance in this new account and whats the opportunity costs or account maintenance costs. Choose the one with the greatest ease of use in your case.
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DBS Multi Currency Account

Savings

Savings Accounts

Will we be given a USD bank account number for DBS MCA? Can we also receive sales proceeds from External brokerages into DBS MCA?
JL
Joshua loh
Level 2. Rookie
Answered on 09 Jun 2020
Your DBS MCA account can receive wire transfer in USD. However, be prepared to pay $10 in handling fees.
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SAXO Capital Markets

DBS Multi Currency Account

Investments

Anyone tried funding USD to Saxo with DBS multicurrency account? What are the fees involved?
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jun)

Level 9. God of Wisdom
Answered on 16 May 2020
Use TransferWise for any conversion of currencies and send back to Your own account, much cheaper (and very reliable & safe) than Your banks or brokers. Second choice could maybe be CurrencyFair as to the fees. But make sure that Your bank/broker does not charge high fees for money out transfers to TransferWise. everything else here: https://seedly.sg/questions/what-is-your-general-investing-philosophy-strategy
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Investments

SAXO Capital Markets

SAXO Markets

DBS Multi Currency Account

Anyone knows what are the fees if i decided to withdraw my USD from saxo to DBS multi-currency? The info on DBS website is scarce.?
YT
YT
Top Contributor

Top Contributor (Jun)

Level 9. God of Wisdom
Answered on 01 May 2020
" Ability to remit or receive foreign currency funds directly from and into your MCA account thus allowing you to save on foreign exchange fees " https://www.dbs.com.sg/treasures/deposits/your-accounts/multi-currency-account
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Investments

DBS Multi Currency Account

How do I avoid the Currency Coversion Fee from Fidelity with Multi Currency Account?
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jun)

Level 9. God of Wisdom
Answered on 18 Apr 2020
Try to use something like TransferWise, still conversion fees but much cheaper
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DBS Multi Currency Account

How does multi currency account work? How do i enter money into that account?
KA
Khairudin Ali
Level 4. Prodigy
Answered on 02 Apr 2020
It is just a normal transfer to your multi currency account. The setup is the same as a normal bank transfer. For currency exchange, you can do it within the multi currency account itself. It is easier to do it on a desktop.
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Forex (FX)

DBS Multi Currency Account

TransferWise

Multi Currency Cards

Which is the cheapest way to transfer USD10k from US bank account to SGD?
Andy Sim
Andy Sim, HR Professional at a Financial Institution
Level 7. Grand Master
Answered on 05 Mar 2020
You can try instarem as well :)
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Robo-Advisors

Kristal.AI

YouTrip

DBS Multi Currency Account

How does Kristal.AI earn $$$?
Asheesh Chanda
Asheesh Chanda, Founder at Kristal.AI
Level 6. Master
Answered on 28 Jan 2020
Thanks for the query. There are 2 conditions you need to be aware of - Its free only upto 50,000 USD size after which the fees kick in. Secondly only 25 trades are free (excluding automated rebalances) and beyond that you are upgraded to paid tier. The idea is to have more investing like behaviour and not frequent trading which in my experience I strongly believe investing like behaviour is better in longer term. We make money from more HNW client who bank millions with us. We do not get any commissions on Forex conversions.
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