Do you need to remit money overseas to family back home? Are you eyeing further investments in the market abroad? Or perhaps, you’re thinking of relocating to your home country after years of living in Singapore. If any of these situations sound familiar to you, the DBS Multi-Currency Account (MCA) is something you should consider.
What’s in it for me?
From now until 31 August 2018, deposit fresh funds of at least US$10,000 into your MCA and maintain it for four months (1 September to 31 December) to enjoy 2.5% per annum interest, paid out in full by 31 Jan 2019. What’s more, if you choose to deposit your fresh funds in SGD and convert to USD, you’ll receive a S$25 FX rebate. So, whether you’re thinking of remitting money overseas to family back home, or spending in USD, now’s the time to buy and lock-in your USD with the MCA. Register for the promo now!
Greater convenience and savings
You’ll also enjoy full access to 12 foreign currencies and the Singapore Dollar online, wherever and whenever. The account allows you to protect your USD from fluctuations in the long run by buying and saving 13 currencies at your preferred rate. When the rates are favourable, just buy it, lock-in the FX rate, and save the funds for later shopping, investments, overseas transfers or payments. Then, take the back seat and wait for a FX Alert notification from the bank as soon as your ideal FX rate hits. Easy peasy!
For the globetrotters out there, this account is a godsend when you’re travelling. The MCA lets you buy and save up to 13 foreign currencies at your preferred rate, so you can travel and spend without worrying about unfavourable conversion rates or having to carry truckloads of cash. Simply link your MCA to your DBS Visa Debit Card, and the foreign currency used for your overseas purchase will be automatically deducted from the respective currency wallet in your account. This is great on your pocket, as you’ll avoid incurring common charges like the Dynamic Currency Conversion (DCC) when transaction in foreign currencies are converted to SGD, or double conversion fees when payment is made in foreign currencies. You’ll also get to enjoy 5% cashback on foreign currency spend, whether online or offline.
Interested in earning 2.5% per annum interest on USD deposits from September to December? Apply for the DBS MCA now!
Terms and Conditions apply. SGD deposits are insured up to S$75k by SDIC.
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