Best multi currency accounts in Singapore April 2021 | Finder SG
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Best multi-currency accounts in Singapore

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


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  • Competitive exchange rates
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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.

Compare a range of multi-currency accounts in Singapore

Data updated regularly
Name Product Monthly fee Card delivery Supported currencies Mobile Payments
5-8 business days


Apple Pay, Google Pay

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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.
Wise Multicurrency Account
2 - 3 business days


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.
Revolut Standard
Up to 9 working days


Apple Pay, Google Pay
Enjoy no monthly fees, competitive currency conversion rates and spend in over 150 currencies with Revolut’s Standard card.
Revolut Premium
Up to 4 working days


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.

Compare up to 4 providers

Data updated regularly
Name Product Monthly fee Minimum Initial Deposit Fall below monthly fees Mobile payments
POSB current account
Apple Pay, Google Pay, Samsung Pay, NETSPay, PayLah!
Benefit from automatic top-up feature and free chequebooks with this checking account.
CIMB StarSaver Account
Samsung Pay
This combined current and savings account offers three interest tiers based on the size of your account balance.
OCBC Frank Account
Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, NETSPay
This fee-free starter account offers 4x higher interest than regular savings accounts and a customisable debit card.
UOB Current Account
Apple Pay, Google Pay, Samsung Pay
Manage your day-to-day finances with this statement-based chequeing account and enjoy a 3-year waiver on your UOB debit card.

Compare up to 4 providers

Disclaimer: Interest rates are applicable for deposits between S$1,000 and S$49,999. Interest rate and initial deposit are shown in Singapore dollars. Please check with the provider for deposits and rates in other amounts and currencies.

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 will see funds 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.

What currencies are available?

This differs between accounts, but you can generally access the following:

  • Singapore dollars (SGD)
  • Renminbi (RMB), though currency restrictions may apply
  • US dollars (USD)
  • Australian dollars (AUD)
  • Great Britain pound sterling (GBP)
  • Euro (EUR)
  • Hong Kong dollars (HKD)
  • Canadian dollars (CAD)
  • Japanese yen (JPY)
  • New Zealand dollars (NZD)

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.
  • 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.
  • Balance requirements. With some banks, you may not be required to maintain a minimum balance in a multi-currency account.
  • Exchange rates. You can switch between currencies in some instances to take advantage of a better exchange rate.
  • 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. You will not be earning interest payments on your balance.

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 which offers free unlimited deposits.

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

How can I open a foreign currency account?

Opening a foreign currency account isn’t very different to opening any other kind of bank account. You’ll need to first decide on the bank 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.

Eligibility criteria

You typically need to meet the following eligibility criteria to apply:

  • Be at least 18 years old (some banks such as UOB require you to be at least 21 years old)
  • Be living in Singapore

Documents required

You’ll typically need to bring the following with you:

  • Identification. For Singaporeans and permanent residents, make sure to bring along your NRIC. For foreigners, you’ll need to bring your passport as well as your Employment Pass (EP), S-Pass or Student Pass.
  • Proof of residential address. Your latest utility bill, account statement or letter from any government bodies.

    Do note that the documentation and eligibility information we’ve provided is only meant as a general guide. Before proceeding to open a current account at your chosen bank, make sure to check their eligibility criteria and know what are the exact documents required.

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