Meet “My Account”: One Account, Many Currencies, Zero Fuss
If you travel often, shop on overseas websites, or get paid in different currencies, juggling money can feel like a part-time job. Different accounts, hidden fees, and confusing FX rates all add up.
That’s where DBS My Account steps in – one multi-currency account that lets you hold, spend, and manage multiple currencies in one place, with no account fees and no minimum balance.
What is DBS My Account?
My Account is a multi-currency bank account that lets you hold 13 currencies in a single place:
- Singapore Dollar (SGD)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Chinese Renminbi (Offshore) (CNH)
- Euro (EUR)
- Hong Kong Dollar (HKD)
- Japanese Yen (JPY)
- New Zealand Dollar (NZD)
- Norwegian Kroner (NOK)
- Sterling Pound (GBP)
- Swedish Kroner (SEK)
- Thai Baht (THB)
- US Dollar (USD)
All of this is managed through the DBS digibank app, so you’re essentially carrying a multi-currency wallet in your phone.
Key Benefits You Get
1. No Account Fees, No Minimum Balance
My Account is designed to be fuss-free:
- No monthly service charge
- No minimum balance requirement
- No initial deposit needed
The only time a fee kicks in is if you insist on paper statements. There’s a small S$2 monthly account fee for paper statements, which is waived if you’re 16 or under or if you switch to e-statements. Go digital and that fee disappears.
2. 13 Currencies, One App
You can exchange between the supported currencies directly in the digibank app, at prevailing rates, with:
- No foreign exchange conversion fees when you use My Account together with an eligible DBS Visa Debit Card for supported currencies
- The flexibility to hold foreign currencies ahead of your trips or overseas spending
Think of it like this: instead of changing money at the airport last minute, you “prep” your foreign currency inside the account whenever the rate looks good to you.
3. Spend Overseas with Your DBS Visa Debit Card
Link your My Account to an eligible DBS Visa Debit Card and you can spend directly from your foreign currency balances:
Eligible cards include:
- DBS Visa Debit Card
- DBS Treasures Visa Debit Card
- DBS Treasures Private Client Visa Debit Card
- DBS Private Bank Visa Debit Card
How it works when linked as your primary account:
- When you spend overseas or online in a supported foreign currency, the money is deducted straight from that currency wallet in your My Account.
- No FX conversion fee, as long as you have enough money in that specific currency.
- The same logic applies to overseas ATM withdrawals — if you’ve got enough in that foreign currency wallet, it comes straight from there.
If your currency wallet doesn’t have enough, the transaction may fall back to your SGD or be billed differently depending on how the merchant processes it, so it’s worth checking your balances before you spend.
Do note that Renminbi Offshore (CNH) is not available for the card feature.
4. Fully Digital, No Chequebook Needed
My Account is designed for digital banking from day one:
- Open and manage the account via the DBS digibank app
- Use PayNow or FAST for local transfers instead of cheques
- No chequebook facility is included
If you really need a chequebook, that’s where a different product (like an eMCA+ Account) comes into the picture. But for most daily and overseas spending, transfers and online payments will cover almost everything.
5. Interest on Your Balance
The account pays interest:
- Interest is computed daily
- Credited at the end of every month
It’s not meant to be a high-yield savings account, but you do earn interest while your money sits there.
6. Easy Application and Setup
You can open a personal My Account through the digibank app.
If you have Singpass:
- Register for Singpass (if you don’t already have it)
- Use Face Verification for instant registration where available
- Once your personal details show in the Singpass app, you’re ready to use it to open the account through digibank
If you’re a foreigner:
- You’ll need your FIN number
- A local (+65) mobile number
If you can’t use Singpass:
- On the digibank app, choose “Continue without Singpass”
- Upload the required supporting documents directly in the app
You can also:
- Check application status via the Application Status Portal using your NRIC/Malaysian IC/Passport and email
- Reach out via the bank’s help channels if you need support
7. For Teens and Young Adults
If your child wants their own account:
- They need to be at least 16 years old on the date of application
- They can open a personal account via the digibank app
If there’s an existing joint My Account for Kids:
- That joint account cannot be “converted” into a personal account
- Your child will need to apply separately for their own account once they turn 16
If they already have digibank access, they can manage or open deposit accounts directly inside the app.
Who Is This For?
1. Frequent Travellers
If you’re often flying for work or leisure:
- Hold currencies like USD, EUR, JPY, AUD and more ahead of trips
- Spend overseas with your linked DBS Visa Debit Card and have it deducted directly from the right currency
- Withdraw foreign currency at overseas ATMs using the same card, as long as your foreign currency wallet has enough balance
You avoid multiple ad-hoc exchanges at money changers or paying extra fees each time you swipe abroad.
2. Online Shoppers and Subscription Lovers
If you pay for:
- Overseas websites
- International subscriptions (e.g. platforms billed in USD, EUR, GBP)
You can fund those currencies inside My Account and have your card spend from the relevant wallet. This helps reduce the “surprise” of extra FX charges.
3. People with Overseas Ties
If you:
- Send money abroad
- Have family expenses overseas
- Receive payments in foreign currencies
Holding multiple currencies in one place makes it easier to manage fluctuations and decide when to convert.
4. Students, Young Adults, and First-Time Account Holders
If you’re just starting out:
- No minimum balance removes pressure to keep a large sum in the account
- No account fees when you opt for e-statements
- You can still enjoy global flexibility from a single main account
It’s an all-in-one everyday account that can grow with your lifestyle, from basic needs today to travel, study, or work overseas later on.
How to Get Started (Step-by-Step Overview)
- Download the DBS digibank app.
- Register or log in.
- If eligible, use Singpass for faster setup.
- Apply for My Account.
- Open a personal My Account directly in the app.
- In one go, you can:
- Open the account
- Get a debit card
- Set up PayNow
- Link your DBS Visa Debit Card.
- In digibank mobile:
- Log in → More → “Manage Cards & Loans” → “Link Card to Account”
- Choose your card, link it to My Account, and confirm.
- In digibank mobile:
- Start funding your wallets.
- Exchange into foreign currencies in-app at prevailing rates.
- Use it locally and overseas.
- Pay, transfer, shop online, travel, and withdraw cash abroad from the relevant currency wallets.
Final Takeaway: One Account for a Global Lifestyle
My Account is built for a world where your life is not limited to one country or one currency.
You get:
- A single account for 13 currencies
- No minimum balance and no standard account service fees
- Integration with DBS digibank and Visa Debit for everyday and overseas use
If you want an account that can handle your local day-to-day spending and your global lifestyle at the same time, My Account is a strong, low-friction starting point.