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DBS multi-currency account review for Singapore businesses

Last update: July 2, 2026

Contents

A review of the DBS multi-currency account for Singapore businesses, covering features, fees, and eligibility

Key takeaways

The DBS multi-currency account lets businesses in Singapore hold, send, and receive funds in 13 currencies
The business multi-currency account comes with a S$50 yearly account maintenance fee and S$40 monthly service charge
The World Account by WorldFirst is a multi-currency account that supports 20+ currencies and international payments to 200+ countries

The DBS business multi-currency account supports 13 currencies and includes a free business debit card, but account fees apply and some payment features like bulk payments vary between account types. This DBS multi-currency account review explains its features, fees, eligibility, payment capabilities, and how it compares with the World Account by WorldFirst.

What is the DBS multi-currency account?

The DBS multi-currency account is a business account that lets Singapore businesses send, receive, hold funds in 13 major currencies from a single account.¹ It is available in two versions¹:

The Starter Bundle is designed for businesses that have been incorporated for less than three years¹
The Business Multi-Currency Account is available to businesses that have been incorporated for more than three years²

Quick look: Pros and cons of DBS multi-currency account

Pros	Cons
Hold funds in 13 currencies from a single account¹ Get DBS business card at no cost¹ Book FX transactions online across 40+ currency pairs up to a year in advance¹	The DBS multi-currency account starter bundle does not include bulk payments or payroll transactions¹ A monthly account fee starting from US$10 applies¹

Key features of the DBS multi-currency account

Supported currencies

The DBS multi-currency account lets businesses transact in 13 currencies including SGD, USD, EUR, GBP, JPY, AUD, CNH, and more. ¹ Businesses can receive, hold, convert, and make payments in supported currencies without opening separate local currency accounts.¹

Payments

Businesses with the DBS multi-currency account can send payments using FAST (Singapore’s instant bank transfer network) and GIRO (used for recurring or scheduled payments such as supplier invoices and payroll).¹ The standard account includes 50 free FAST and 50 free GIRO transactions each month, while the Starter Bundle offers unlimited FAST and GIRO transfers (excluding bulk and payroll payments).¹

Users can convert currencies through DBS FX Online and SecureFX1:

DBS FX Online allows businesses to book foreign exchange transactions across more than 40 currency pairs and lock in exchange rates for up to one year in advance¹
SecureFX enables businesses to secure exchange rates for five major currency pairs (USD/SGD, EUR/SGD, EUR/USD, GBP/SGD, and JPY/SGD) up to one month ahead for local and international payments of up to US$1 million¹

Overdraft

Businesses can apply for an overdraft facility, subject to DBS’s credit assessment and approval.1 Eligible customers can also access DBS Quick Finance, which provides up to S$50,000 in unsecured working capital.¹

Debit card

The account includes the DBS business advance+ debit card, which has no annual fee and charges 0% foreign exchange fees on card purchases across 200+ countries.¹

DBS multi-currency account fees — the breakdown

Fee type	DBS Starter Bundle multi-currency account fees	DBS Business Multi-Currency Account fees
Account opening fee	Zero	Zero
Account maintenance fee	S$10/month	S$50/year
Monthly service charge	Zero	S$40/month (waived if the average daily balance is at least S$10,000 or equivalent)
FAST & GIRO payments	Unlimited free FAST and GIRO payments	50 free FAST and 50 free GIRO payments per month
Sending funds overseas	S$30 per transfer, excluding agent bank fees	S$30 per transfer, excluding agent bank fees
DBS Business Advance+ Debit Card	Zero	Zero

*Fees checked in 2026

Who can open a DBS multi-currency account?

Companies incorporated in Singapore and fully owned by Singapore citizens or permanent residents can apply for the DBS multi-currency account online.¹

How to apply for a DBS multi-currency account

Follow the below steps to apply for a DBS business account:

Get your company’s Unique Entity Number (UEN) and the contact details of all authorised account users

Complete the online application. If required, save it as a draft and continue later
Once approved, DBS emails your account access details

World Account by WorldFirst is a multi-currency account built for global businesses

The World Account is a multi-currency account by WorldFirst, a global payments provider. It lets businesses hold funds in 20+ currencies, including SGD, USD, GBP, EUR, AUD, NZD, CNH, HKD, JPY, and more. Each supported currency comes with local receiving account details, allowing businesses to receive payments as though they were domestic transfers.

Businesses can send payments in more than 100 currencies across over 200 countries and regions. The account also supports payment collection from more than 130+ global marketplaces and payment gateways, including Amazon, Shopify, Shopee, and Stripe.

Each account is linked to a World Card, a Mastercard-powered virtual business payment card that lets you pay in 150+ currencies. Businesses can issue up to 20 World Cards from one account at no additional cost. There are no fees charged when paying in any of the 15 supported currencies, with sufficient balance held in that currency.

Key features of the World Account

Hold funds in 20+ currencies including USD, GBP, EUR, AUD, NZD, CNH, HKD, JPY, SGD and more
Send payments in 100+ currencies across 200+ countries and regions
Collect payments from 130+ global marketplaces and payment gateways
Transfers between World Account holders are free and instant
Forward contracts available for Singapore businesses
Xero integration for automated accounting and reconciliation
Up to 20 World cards from a single account at no extra cost
Cashback is available on eligible World Card spending. Terms and Conditions Apply

Fee type	World Account
Account opening fee	Zero
Monthly account fee	Zero
Opening local currency accounts	Zero
Receiving payments	Zero
Holding funds in multiple currencies	Zero
Sending payments to World Account holders	Zero
Sending payments to other accounts	US$1 for local transfers, US$5 for international transfers
Currency conversion	Up to 0.6%
World Card issuance	Zero for up to 20 cards
Payments to 1688.com suppliers via World Pay	Up to 0.8% currency conversion fee

*Fees checked in June 2026

FAQ

What is the DBS Multi-Currency Account?

The DBS corporate multi-currency account is a business account that lets you send, receive, and hold funds in 13 currencies. It is available as the Starter Bundle for businesses incorporated for less than three years and the standard account for businesses incorporated for more than three years.

What is the minimum balance for the DBS Multi-Currency Account?

DBS does not specify a minimum opening balance. However, the standard account’s S$40 monthly service charge is waived if you maintain an average daily balance of at least S$10,000 or the equivalent.

Can I deposit and withdraw foreign currency from a DBS Multi-Currency Account?

Yes, you can deposit and withdraw funds in 13 supported currencies including SGD, USD, EUR, CNH and more.

Sources:

https://www.dbs.com.sg/sme/day-to-day/accounts/dbs-business-multi-currency-account
https://www.dbs.com.sg/sme/businessclass/business-tools-list.page
https://www.dbs.com.sg/sme/day-to-day/ways-to-bank/online_banking_ideal.page?pk_source=typed&pk_medium=direct&pk_campaign=bookmarked

The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.

Joan Poon leads marketing across Southeast Asia at WorldFirst, driving growth and brand leadership in key markets including Singapore, Malaysia and the Philippines.

Joan Poon

Author

Head of Marketing SEA, WorldFirst Singapore

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DBS multi-currency account review for Singapore businesses

What is the DBS multi-currency account?

Quick look: Pros and cons of DBS multi-currency account

Key features of the DBS multi-currency account

Supported currencies

Payments

Overdraft

Debit card

DBS multi-currency account fees — the breakdown

Who can open a DBS multi-currency account?

How to apply for a DBS multi-currency account

World Account by WorldFirst is a multi-currency account built for global businesses

FAQ

What is the DBS Multi-Currency Account?

What is the minimum balance for the DBS Multi-Currency Account?

Can I deposit and withdraw foreign currency from a DBS Multi-Currency Account?

Continue reading

Open a World Account for free

Get local currency accounts, fast payments and competitive FX – all in one place.

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