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Best multicurrency accounts in Singapore

Enjoy low ATM fees and save on transactions made overseas with a multi-currency account.

YouTrip

YouTrip logo

S$0

Monthly Fee

  • Use promo code FINDER5 to earn $5 on signup
  • Competitive exchange rates
  • Store and exchange dozens of currencies
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Do you need access to multiple currencies? If so, a multi-currency account is an easy, hassle-free option that can save you money in foreign exchange fees and charges.

Use this guide to learn about how to find the best multi-currency account for you.

Best no-fee consumer travel card

YouTrip

YouTrip logo
Apply now
at YouTrip's secure site
S$0
Monthly fee
S$5
ATM fee
N/A
Currency conversion fee
As the first multicurrency travel wallet launched in Singapore, YouTrip is a highly popular option among locals. It charges no monthly fees and comes with a free physical YouTrip prepaid card that’s accepted at millions of merchants worldwide. In addition, the YouTrip card also doubles up as an EZ-Link card that allows you to pay for your public transport fares with ease.
    • Free to use. There are no card fees or minimum balance required to maintain the account.
    • No cross border transaction fees. Pay for online transactions without incurring any currency conversion fees.
    • Doubles up as an EZ-Link card. The YouTrip card can be used for public transport in Singapore, as well as 20 other cities including Kuala Lumpur, Sydney and New York.
  • Limited features. YouTrip doesn&rsquo
  • t offer features such as sub accounts, cryptocurrency support or disposable virtual cards.
  • Overseas cash withdrawal fees. Cash withdrawals from overseas Mastercard, Maestro or Cirrus ATMs will incur a flat fee of S$5 per transaction.
  • No local cash withdrawal. Cash withdrawals from ATMs in Singapore are not available.
Monthly fee S$0
ATM fee S$5
International ATM Fee 0%
Card fee S$10
Free ATM withdrawal limit N/A
Currency conversion fee 0%
Overseas transfer fee 0%

Best for range of foreign currencies

Wise Multicurrency Account

Wise Multicurrency Account logo
Apply now
at Wise's secure site
S$0
Monthly fee
S$1.50
ATM fee
0.35%
Currency conversion fee
The Wise Multicurrency Account offers an impressive range of foreign currencies. Get local bank account details in nine currencies, transfer money to over 70 countries, plus hold and convert money in 50+ currencies at the real exchange rate. So if you need access to multiple currencies for travel, shop online, or bank in more than one country, this multi-currency account is definitely a great option to consider.
    • Wide range of currencies. Hold and convert 50+ currencies in your account.
    • Minimal fees. Wise does not charge any monthly fees or no annual card fee. Do note that there will be a one-off S$10 fee for your debit card.
    • Low-cost foreign transfers. Wise only charges a low upfront currency conversion fee and allows you to convert foreign currencies at the real exchange rate, without adding any margin.
  • Limited features and perks. Wise does not offer features such as interest on account balance, loan/overdraft facility, travel insurance, disposable virtual cards, or cryptocurrency support.
  • Fees for USD wire transfers. Receiving funds via USD wire transfers will incur a US$7.50 fee.
  • No local cash withdrawal. Cash withdrawals from ATMs in Singapore are not available.
Monthly fee S$0
ATM fee S$1.50
International ATM Fee 1.75%
Card fee S$10
Free ATM withdrawal limit S$350 / 30 days
Currency conversion fee 0.35%

Best overall for multi-currency card

Revolut Standard

Revolut Standard logo
Apply now
at Revolut's secure site
S$0
Monthly fee
S$0
ATM fee
0.5%
Currency conversion fee
Revolut is a digital banking app and card that focuses on technology, low fees, and premium features. It’s designed for those who travel frequently and offers ways to spend abroad, including international money transfers with no hidden fees. With the Revolut Standard plan, you’d gain access to a free digital banking account, a physical card, a virtual card, and a disposable virtual card - without having to pay any monthly subscription fee. On top of these, you can also hold a balance or make an exchange in the app in 28 currencies.
    • Wide array of features. The Revolut app comes with a range of advanced finance management features such as bill splitting, spend analytics, expense categorisation, set up recurring payments and more.
    • No monthly fees. Revolut Standard does not come with any monthly subscription.
    • Multiple sub-accounts. Revolut Vault feature lets you build up funds for a specific funding goal. Keep in mind it does not pay any interest like a normal savings account, but it can be helpful for saving towards short-term goals.
  • Foreign currency transaction markups. Revolut applies a markup of 0.5% on major currencies and 1% on other currencies over the weekend when markets are closed. Thai Baht and Ukrainian hryvnia will always get a 1% markup even during open markets, which will rise to 2% on weekends.
  • Foreign currency transfer fee. If you hold the Standard account you would not be charged for currency transfers up to Up to S$9000 per month, after which you will pay a 0.5% fee.
  • No local cash withdrawal. Cash withdrawals from ATMs in Singapore are not available.
Monthly fee S$0
ATM fee S$0
International ATM Fee 2%
Free ATM withdrawal limit $350 per month
Currency conversion fee 0.5%

Best for cryptocurrency compatibility

Wirex Standard

Wirex Standard logo
Apply now
at Wirex's secure site
S$0
Monthly fee
N/A
ATM fee
N/A
Currency conversion fee
Wirex is a borderless payment app that lets you hold, spend and manage both fiat currencies and cryptocurrencies. It includes a payment card that allows you to make payments at 54 million outlets on the global Visa network, and automatically settles your overseas payments in the local currency at the interbank rate without any extra fees. To sweeten the deal, Wirex also offers a reward programme known as Cryptoback, which generates up to 0.5% back in WXT (Wirex Token) on all in-store purchases you make on the card.
    • Zero fees. Wirex Standard does not charge any fees for account subscription, card maintenance, card issuance or replacement.
    • Cryptocurrency support. With Wirex, you can exchange, hold and spend in eight cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP), Wirex Token (WXT), Dai (DAI), Nano (NANO) and Stellar Lumens (XLM).
    • Crypto rewards. Generate 0.5% Cryptoback rewards on all your in-store purchases, which will be paid out in WXT.
  • Limited app features. The Wirex app does not offer features such as spend analytics, budgeting tools, receipt scanning and bill splitting.
  • No sub accounts. You will not be able to put money aside in sub accounts to achieve different saving goals.
  • Cash withdrawal fee. You will need to pay a 2% fee on amounts after exceeding the fee-free withdrawal limit of S$400.
Monthly fee S$0
International ATM Fee 2%
Card fee S$5
Free ATM withdrawal limit S$400 per month
Currency conversion fee 0%

How does a multi-currency account work?

A multi-currency bank account lets you send and receive funds in different currencies, which can save you time and money. Regular Singaporean bank accounts, funds can be converted to and from SGD when required, but what if you wanted to keep different amounts of specific currencies without having to worry about short term currency fluctuations affecting your bottom line?

When you use a multi-currency account, you typically can:

  • Deposit different currencies.
  • Switch between the currencies to take advantage of changing exchange rates.
  • Send money overseas without having to worry about extra charges for conversion (though transfer fees may apply). This can offer a convenient way to handle your money if you are often dealing with international transactions.
  • You can often link your account to a debit card with the bank, meaning you can use the card to make payments when you’re overseas.

There are typically two types of multi-currency accounts available: traditional multi-currency accounts and digital multi-currency accounts.

Compare a range of multi-currency accounts in Singapore

Name Product Monthly fee Card delivery Supported currencies Mobile payments
Wirex Standard
S$0
5 business days

12

Apple Pay, Google Pay

Get a Welcome Bonus of 1,000 WXT when you sign up with Wirex through Finder.

A multi-currency card that supports over 150 currencies, including more than 8 cryptocurrencies at interbank rates.
Revolut Metal
S$19.99
Up to 4 working days

21

Apple Pay, Google Pay
An exclusive premium contactless card that allows for unlimited currency exchanges, a free Lounge Pass, and 1% cashback on expenses.
Revolut Premium
S$9.99
Up to 4 working days

21

Apple Pay, Google Pay
On top of standard Revolut perks, this debit card comes with unlimited spending and free overseas ATM withdrawals, up to $700 per month.
Wise Multicurrency Account
S$0
2 - 3 business days

8

Apple Pay, Google Pay
Wise (formerly TransferWise) is an international account for over 50 currencies, with instant, super-cheap money transfer, a card to spend in any currency, bank details to get paid in 30 different countries and multi-currency direct debits.
Wirex Elite
S$29.99
5 business days

12

Apple Pay, Google Pay
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Compare up to 4 providers

How do I compare multi-currency accounts?

Take a look at the following features so you can find the right multi-currency account for you:

  • Number of currencies. You will find that some financial institutions are able to provide you with a wide range of currencies; others may only have two or three.
  • Supported currencies. Check to ensure that the currencies you deal with most are available with each of the accounts you are comparing.
  • Account minimum. Some banks will require that you maintain a minimum monthly balance in the account.
  • Monthly account fees. You could find some that are charging a maintenance fee every month for a multi-currency account. Digital banks may also offer various plans that charge a monthly subscription fee.
  • Currency conversion charges. In addition to the exchange rate differences, the bank could also be charging you each time you convert your money to another currency.
  • Other fees. Read the fine print to see if you are subject to any cash handling fees for transactions. In some instances, this could depend on the particular currency and the type of transaction you are making.
  • Transfer amounts. The amount you are allowed to transfer per transaction and per day will vary between banks.
  • Transfer types. With most accounts, you are going to find that all overseas transfers are conducted as a bank to bank transfer.
  • Money transfer speed. Look to see how long with each account does it take to transfer money from your home bank to one overseas.
  • Flexibility. You might be able to make transfers, deposits and withdrawals over the phone or internet or at a branch. Check to see if any of these transaction types are limited or incur extra fees.

Digital Banks

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Pros and cons of multi-currency accounts

  • Multiple currencies. This is the main benefit of holding one. You don’t need to worry about exchanging your money and can deposit foreign currency.
  • Exchange rates. You can switch between currencies in some instances to take advantage of a better exchange rate. Most digital banks also offer interbank FX rates.
  • Account keeping fees. You should be able to find multi-currency accounts that do not charge any monthly or ongoing fees. A number of digital bank accounts will include some of the pros outlined here.
  • Cash handling fees. You may be charged special cash handling fees for some transactions.
  • Low interest. Depending on the account or currency you’re holding, you may not accrue interest on your balance. Most digital banks do not offer interest payments as well.

How much do multi-currency accounts cost?

A foreign currency account usually comes with a number of fees in addition to regulars ones, such as monthly service charges. These include fees for depositing or withdrawing. Some institutions may offer unlimited deposits and allow a certain number of fee-free withdrawals per month, or vice versa.

When comparing accounts know what your dealings each month will primarily consist of. If you receive many deposits each month, it may be useful to find an account that offers free unlimited deposits.

You should also check for monthly fall-below fees, which some banks charge, and what minimum balance you need to maintain in your multicurrency account.

Read about how credit cards with 0% foreign fees can help you save money when you shop overseas.

How can I open a multi-currency account?

Opening a multi-currency account isn’t very different to opening any other kind of bank account. You’ll need to first decide on the provider that offers an account you need and apply online, or visit its nearest branch. Before applying, make sure that you meet its eligibility criteria and have the required documents on hand.

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Frequently asked questions

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