DBS or Development Bank of Singapore is one of the leading banks across the globe that offers great financial services and products. They are designed to meet the changing needs and requirements of the customers. The DBS Multi Currency Autosave is an all-in-account that you need. You can use twelve different currencies, including Singapore Dollar (SGD) with this account for saving and transaction.
Features and Benefits of DBS Multi Currency Autosave:
There are several features and benefits that come with DBS Multi Currency Autosave. These are as follows:
- You can easily convert one currency to another with DBS Multi Currency Autosave. This will allow you to make most of the opportunities caused due any movement in foreign exchange.
- You can save a lot on the foreign exchanges as you can enjoy the ability to receive, remit or withdraw funds in foreign currencies directly into or from your account.
- If you choose to withdraw in foreign currencies at the branch then no fee will be charged.
- You have to open an account one time only and you will have the same account number for all your thirteen different currencies.
- You can enjoy all-in-one statements for Singapore Dollar and other foreign currencies when you carry out a transaction or check balances.
Options for DBS Multi Currency Autosave (MCA):
There are three different options that you can choose as per your convenience and needs. They are as follows:
- eMulti-Currency Autosave (eMCA).
- eMulti-Currency Autosave Plus (eMCA+).
- Multi-Currency Autosave Plus (MCA+).
The table below talks about the services that can be availed with these different accounts.
|Multi-Currency Autosave Plus (MCA+)||Yes||Not Available||Not Available|
|eMulti-Currency Autosave Plus (eMCA+)||Yes||Yes||Yes|
|eMulti-Currency Autosave (eMCA)||Not Available||Yes||Yes|
Fees and Charges:
|Cheque Book Charges||Monthly Account Fee||Fee if ADB (Average Daily Balance) goes below S$3000|
|Multi-Currency Autosave Plus (MCA+)||When you open an account, the first cheque book that you receive is free of cost. After that, for every cheque book containing 50 leaves will cost you S$10.||S$4||S$7.50|
|eMulti-Currency Autosave Plus (eMCA+)||When you open an account, the first cheque book that you receive is free of cost. After that, for every cheque book containing 50 leaves will cost you S$10.||S$2||S$7.50|
|eMulti-Currency Autosave (eMCA)||Not Applicable.||Not Applicable.||S$7.50 (It is waived till you reach the age of 29 years).|
How to convert existing Autosave Account?
If you already have an Autosave Account with the Development Bank of Singapore (with e-statement), then you can easily convert it to DBS Multi Currency Autosave Plus. The services that you get and the account number will stay the same and nothing will be changed.
The steps that you must follow to convert your DBS Autosave Account to DBS Multi Currency Autosave Plus are as follows:
- You must login to DBS iBanking.
- Choose the option that says ‘Request’ on the top right corner of the page. From there, you will have to select ‘Other Services’. After this step, you will have make a request for the DBS Autosave conversion to happen.
- Confirm all the account details that you have entered there and then click on the ‘Submit’ button.
How to apply?
If you wish to apply for DBS Multi Currency Autosave, you can do it in the following ways:
- You can apply for this account via iBanking.
- You can apply via Debit Card / ATM and PIN.
There are several documents that are required when you want to apply for D DBS Multi Currency Autosave. They are as follows:
- Citizens of Singapore and permanent residents of Singapore must produce their NRIC at the time of application for DBS Multi Currency Autosave.
- The foreigners must produce passes that are issued by Checkpoint Authority of Singapore and the Immigration office.
- Either one of the following documents is required as a proof of address:
- Utility bills.
- Approval letter issued by the MOM (Ministry of Manpower).
- Telephone bills.
- Rental agreement.
- Credit Card Statements / Bank Statements / Bank Reference Letter.
- Management Fee Bills.
- Human Resource letter from the current company of employment.
To apply for the DBS Multi Currency Autosave, you must meet the following eligibility criteria:
- Your minimum age must be at least 18 years when you wish to apply for this savings account.
- To enjoy the benefits of DBS Multi Currency Autosave, no initial deposit is needed.
List of Currencies that can be availed with DBS Multi Currency Autosave:
There are thirteen different currencies that you can choose when you hold the DBS Multi Currency Autosave Account. These currencies are as follows:
- Singapore Dollar (SGD)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Chinese Renminbi (CNH) (Offshore)
- Euro Dollar (EUR)
- Hong Kong Dollar (HKD)
- Japanese Yen (JPY)
- New Zealand Dollar (NZD)
- Norwegian Kroner (NOK)
- Sterling Pound (GBP)
- Swedish Kroner (SEK)
- Thai Baht (THB)
- United States Dollar (USD)