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DBS Multi-Currency Account vs YouTrip in Singapore
Which multi-currency account is best suited to your needs?
If you need to access foreign currencies frequently, be it for overseas travel or online purchases, DBS Multi-Currency accounts and YouTrip are two of the most popular options you can consider.
While both allow direct debiting from your foreign currency balance, round-the-clock currency exchange and global spending without additional FX fees, they are not built the same.
In this review, we provide a side-by-side comparison for DBS Multi-Currency Accounts and YouTip. See how they stack up and decide which one is better for you before applying.
A quick review: DBS Multi-Currency Accounts and YouTrip
DBS Multi-Currency Accounts (MCA)
With DBS MCA, you can save and transact 12 foreign currencies and the Singapore Dollar conveniently in a single account, alongside standard banking features such as day-to-day transactions, interest on balance, cash withdrawals and more.
In addition, you can also link it with your DBS Vickers account and trade in different foreign currencies and multiple markets.
Although it was once a standalone account, this feature is now offered on two accounts – the DBS My Account and DBS Multiplier Account.
YouTrip
YouTrip is the first locally introduced multi-currency travel wallet that comes with a prepaid Mastercard.
With the Youtrip card, you can make payments online and at POS (point-of-sale) terminals worldwide, in over 150 currencies without any fees. It also doubles up as an EZ-Link card that can be used to pay your public transport fares in Singapore.
The app also comes with a host of convenient payment features, such as the conversion and storage of 10 different currencies and 24/7 in-app exchange rate monitor.
Verdict
Overall, both DBS Multi-Currency Accounts and YouTrip offer low-cost money transfers, in-app currency exchange, and allows you to hold multiple currencies.
With DBS MCA, you can enjoy the convenience of everyday banking in Singapore via the largest network of ATM/branches, hold unlimited balances and grow your savings with competitive interest rates — all of which you won’t have access to with YouTrip.
However, if you already have an existing account with another bank and don’t need another savings account — YouTrip definitely makes a good complementary tool for your multi-currency needs. It even comes with a prepaid card doubles up as an EZ-Link card for public transport in Singapore and a few selected cities.
DBS Multi-Currency Accounts vs YouTrip in Singapore: a side-by-side comparison
YouTrip |
DBS Multiplier Account |
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| OVERVIEW | ||
| Description | Use promo code FINDER5 to earn $5 on signup. A prepaid Mastercard with no monthly fees, contactless payment features and fee-free transactions in over 150 currencies. NOTE: Promo code valid for new signups and Singapore residents only. |
Multiply your savings with bonus interest rates when you credit your income and meet all the account's criteria. |
| Monthly fees: | S$0 | S$0 |
| Card delivery | 5-8 business days | N/A |
| Mobile wallets | Apple Pay, Google Pay | Apple Pay, Google Pay, Samsung Pay, NETSPay, PayLah! |
| Supported currencies | SGD, AUD, EUR, GBP, HKD, JPY, NZD, SEK, USD, CHF | SGD |
| Fee-free ATM withdrawals limit | N/A | N/A |
| GLOBAL SPENDING | ||
| Currency conversion fee | 0% | |
| Fee-free currency conversion limit | Unlimited | |
| EXTRA FEATURES | ||
| Benefits | Payment notifications Cashback Web app |
Payment notifications Fast transfers Web app |
| Learn more |
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*We selected products from each provider that were the most comparable. You can find all available products on our review pages as well as the provider’s website.
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