DBS Bank

: 2024 Review

Free (depending on account, minimum account balance is required)


DBS Bank

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DBS, short for Development Bank of Singapore, is a solid banking option for expats in Singapore.  

It offers several types of accounts that are relevant to expat needs: 

  • My Account Multi-currency accounts. Allows you to hold 12 foreign currencies in a single account, simplifying your cross-border transactions. No initial deposit or minimum account balance required.
  • Multiplier accounts. Unlocks tiered interest rates to help you save more.
  • DBS Treasures. For Accredited Investor expats with >$350k in deposits or investments. Lowest tier of wealth management services that provides you with personalized financial advisory services, investment opportunities, and priority banking services.

For non-residents, DBS bank account opening may be possible, but it will require you to visit a physical branch.

I have used DBS for my personal bank accounts.

Dexter Zhuang
Dexter Zhuang

Dexter is the founder of Money Abroad, a website and newsletter on building wealth for global professionals. Over the last 10 years, he's been a product leader, product manager, consultant and coach at companies like Dropbox, Xendit, and growth-stage startups across the US, Asia Pacific, and Latin America. His work has been featured in global publications like Business Insider, CBS, US News & World Report, and Tech in Asia. He graduated from Dartmouth College.

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