500
My Account
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.

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.
Promotion

One account, everything you need.
The only account you need to get going in life.
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Earn daily interest
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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
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S$1 gift deposit1
When it’s time to get them started.
Fee waiver
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No coin deposit fee2
So they’ll be able to save more.
Cool for school
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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.
- Gift deposit for anyone below 21 years old.
- Waiver is limited to first 1000 pieces per calendar month at the coin deposit machine.
- For child age below 16 years old at the point of account opening.
Get digibank now
Alternatively, you may apply online.
Open a Joint-Alternate AccountApply now | If you would like to apply for a joint |
Open a Joint-Alternate Account with your childApply 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 customers without Singpass, please prepare these required documents to open My Account
* Instant account opening using Singpass applies to Singaporeans, Permanent Residents, and Foreigners with EP/SP/DP only.
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
POSB Parents
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.
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
I am not a Singaporean/PR, can I still open a My Account?
Yes, you can instantly open a My Account using digibank app if you have Singpass access and a valid Singapore pass (EP/SP/DP). A copy of your Passport (or IC for Malaysians) will also be required.
If you do not have Singpass access, you may choose the continue without Singpass journey in digibank app.
Alternatively, you may open a My Account online.
Click here for the documents that you will need to prepare.
Can I open a My Account together with my child who is below 16 years old?
Why do I need to download POSB digibank app to open an account? What are the advantages?
I want to apply but I do not have a Singpass, what are the documents that I need to prepare?
Features
Is My Account a multi-currency account?
What are the currencies I have access to with My Account?
With My Account, you have access to 12 foreign currencies and the Singapore dollar. The 12 foreign currencies are:
- 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)
You can also exchange these currencies conveniently at prevailing rates.
Are there any fees or minimum balance that come with My Account?
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.
Can I link my My Account to a DBS Visa Debit Card for multi-currency spend? What are the eligible DBS Visa Debit Cards to be linked to My Account?
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:
How do I link my eligible DBS Visa Debit Card to my My Account?
For digibank mobile, please:
- Log in to digibank mobile
- Upon successful login, tap “More”
- Under “Manage Cards & Loans”, select “Link Card to Account”
- Select the Card you wish to link your My Account to
- Verify the details and tap “Confirm” to complete the card linkage
For digibank Online, please:
- Log in to digibank Online
- Under “Cards”, select “Link Card to Deposit Account for ATM Use”
- Select the Card you wish to link your My Account to
- Verify the details and click “Submit” to complete the card linkage
How many foreign currencies can I transact with my primary linked DBS Visa Debit Card?
There are 11 available foreign currencies:
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- 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)
Renminbi Offshore (CNH) is not available for the card feature.
Will my foreign currency funds be debited automatically when I spend using my linked DBS Visa Debit Card?
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.
What should I select on the overseas ATM for foreign currency cash withdrawals using my primary-linked DBS Visa Debit Card?
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.
I have my My Account opened, but I don’t have my Visa Debit Card yet. How can I get my Visa Debit Card?
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’.
How do I get a chequebook?
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.
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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