At a Glance

Don’t bother opening another account. With My Account, you can add benefits to meet your changing needs.

One account, everything you need

  • Available to customers of all ages
  • No minimum balance, no initial deposits, no service charge.
  • As you grow, your banking needs grow too. You have the option to convert your My Account to a Multiplier Account to earn higher interest – up to 3.8% p.a.!

Banking at your fingertips anytime, anywhere.

  • Easily access over 150 banking services with digibank while you’re on the go
  • Get rides, book shows, order food, and pay bills, and much more. Just scan and PayLah!
  • Request payments from your friends, or send money to anyone, including users who are registered on PayNow.

Personalise your account name the way you want it

  • Name your account however you want it. You can now do so conveniently via digibank and also get your chosen nickname shown on your statements.
 
 
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One account, everything you need.

The only account you need to get going in life.

  • Earn daily interest
  • With multi-currency capability
    You can exchange and store up to 13 currencies.
  • Statement
    Keep a record of your transactions easily, with the statement of your choice.
  • Account personalised for you
    You can open a personal or joint-alternate My Account with another applicant over 16 years old, depending on your needs.
 

My Account for your little one.

My Account functions as a joint account, allowing you and your child to manage it together.

Growing their savings

  • S$1 gift deposit1
    When it’s time to get them started.

Fee waiver

  • No coin deposit fee2
    So they’ll be able to save more.

Cool for school

  • Complimentary POPULAR 1-year student membership3
    Perfect for when they start school.
  • POSB Smart Buddy
    You’ll be able to link it to your child’s account to automatically save their unutilised pocket money.
  1. Gift deposit for anyone below 21 years old.
  2. Waiver is limited to first 1000 pieces per calendar month at the coin deposit machine.
  3. For child age below 16 years old at the point of account opening.
 

Open a Personal
My Account on
digibank app

Get digibank now

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By downloading the DBS digibank
app, you will be able to open My
Account using Singpass in less than 3
mins*.

Alternatively, you may apply online.
 

Open a Joint-Alternate Account

Apply now

If you would like to apply for a joint
-alternate My Account with another
applicant, please ensure he/she is 16
years old and above.

Open a Joint-Alternate Account with your child

Apply now

For existing POSB/DBS account holders, you can apply for a joint alternate My Account with your child online1.

1 Applicable to children below 16 years old, and do not own an existing joint alternate My Account.

 

For foreigners, please prepare these required documents to open My Account.

 

Eligibility & Requirements

  • No age requirement.
  • No initial deposit required.

Fees & Charges

   
Service Charge S$0
Account Fee S$2 per month1
(With paper statement)

1 Account fee is waived for customers up to 16 years old or account on eStatement.

Please refer to the Deposits Guide for the list of applicable fees.

Join Our Online Community

The Burrow

Take the next step and be part of an awesome and supportive community with like-minded parents. Learn a tip or two when you participate in discussions focused on money management as a family in this digital age.

Find out more


Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Conversions between currencies involve fluctuations and are subject to exchange controls. If you are converting from another currency to place the deposit and intend to convert it to the original currency, exchange rate fluctuations could cause the converted amount to be less than your original amount.

 

Opening a My Account

Yes, you can. You can open a My Account online without the need to visit the branch, if you are holding a valid Singapore work or student pass. Click here for the documents that you will need to prepare.


Yes, if you have an existing savings/current account with us, you can apply for a joint-alternate My Account with your child online. Click here to apply for the account.

By downloading the POSB digibank app, you will be able to open My Account using Singpass in less than 3 mins. In addition, you will be able to set up your digibank login ID and PIN, digital token and request for Debit Card simultaneously.

Click here to view the documents that you will need to prepare. Do note that applications without Singpass authentication will take about 3 to 5 business days to process.

Features

Yes. My Account is a multi-currency account.

With My Account, you have access to 12 foreign currencies and the Singapore dollar. The 12 foreign currencies are:

  1. Australian Dollar (AUD)
  2. Canadian Dollar (CAD)
  3. Chinese Renminbi (Offshore) (CNH)
  4. Euro (EUR)
  5. Hong Kong Dollar (HKD)
  6. Japanese Yen (JPY)
  7. New Zealand Dollar (NZD)
  8. Norwegian Kroner (NOK)
  9. Sterling Pound (GBP)
  10. Swedish Kroner (SEK)
  11. Thai Baht (THB)
  12. US Dollar (USD)

You can also exchange these currencies conveniently at prevailing rates.


My Account comes with zero service charge and no requirement on maintaining a minimum balance.

There is a S$2 account fee per month for customers who are not enrolled to electronic statements and receiving paper statements. The account fee is waived for customers up to 16 years old or who are enrolled to electronic statements.


Yes, your My Account can be linked to an eligible DBS Visa Debit Card to enable you to transact directly in foreign currency without conversion fees.

The eligible DBS Visa Debit Cards are:

  1. DBS Visa Debit Card
  2. DBS Treasures Visa Debit Card
  3. DBS Treasures Private Client Visa Debit Card
  4. DBS Private Bank Visa Debit Card

For digibank mobile, please:

  1. Log in to digibank mobile
  2. Upon successful login, tap “More”
  3. Under “Manage Cards & Loans”, select “Link Card to Account”
  4. Select the Card you wish to link your My Account to
  5. Verify the details and tap “Confirm” to complete the card linkage

For digibank Online, please:

  1. Log in to digibank Online
  2. Under “Cards”, select “Link Card to Deposit Account for ATM Use”
  3. Select the Card you wish to link your My Account to
  4. Verify the details and click “Submit” to complete the card linkage

There are 11 available foreign currencies:

  1. Australian Dollar (AUD)
  2. Canadian Dollar (CAD)
  3. Euro (EUR)
  4. Hong Kong Dollar (HKD)
  5. Japanese Yen (JPY)
  6. New Zealand Dollar (NZD)
  7. Norwegian Kroner (NOK)
  8. Sterling Pound (GBP)
  9. Swedish Kroner (SEK)
  10. Thai Baht (THB)
  11. US Dollar (USD)

Renminbi Offshore (CNH) is not available for the card feature.


Yes. If your My Account is linked as the primary account to your DBS Visa Debit Card, foreign currency purchases made online and overseas will automatically be debited from your account’s respective foreign currency funds without any foreign exchange conversion fees. This also applies to overseas ATM withdrawals.

Note: The respective Multi-Currency Account (MCA) foreign currency wallet must contain sufficient funds prior to making a transaction. Only then will your transaction be automatically debited from the respective foreign currency wallet without any foreign exchange conversion fees. Please ensure that your DBS Visa Debit Card is primary linked to your MCA and the correct currency is selected at point of transaction. Please also note that in some cases, depending on how the merchant processes your transaction, your transaction may be billed to you in another foreign currency other than the local currency.


Generally, overseas ATM withdrawals will be automatically deducted from your primary account. However, if prompted, please select "Checking/Current Account" to withdraw foreign currency cash overseas from your My Account using your linked DBS Visa Debit Card.

Please ensure you have sufficient foreign currency funds in your account prior to withdrawal. Otherwise, the foreign currency cash withdrawal will be deducted from your SGD wallet.


Click here to apply online for a Visa Debit Card instantly and it will be mailed to you within 5 working days.

Alternatively, you can log on to DBS digibank app and tap on ‘More’ followed by ‘Cards’.


The My Account does not come with a chequebook facility. We recommend that you use PayNow or FAST to conduct local funds transfer via the DBS digibank app or digibank online.

Learn More

However, if you still need a chequebook, you will need to apply for an eMCA+ Account online.

Note:
- Foreign currency transactions are subject to exchange rate fluctuations, which may result in capital gains or losses; such accounts may also be subject to exchange controls imposed on the currency held.
– Service charge is waived for eMulti-Currency Autosave (eMCA) account holder up to 29 years old.
– Please note that in some cases, depending on how the merchant processes your transaction, your transaction may be billed to you in another foreign currency other than the local currency.


Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Conversions between currencies involve fluctuations and are subject to exchange controls. If you are converting from another currency to place the deposit and intend to convert it to the original currency, exchange rate fluctuations could cause the converted amount to be less than your original amount.

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