DBS Bank Singapore is one of the main local banking groups in Singapore, covering personal deposits, payments, cards, home loans, wealth services, SME banking, corporate banking and digital channels through DBS digibank and DBS IDEAL. For 2026, the practical search intent around DBS is not only “what is DBS?” but also which accounts are available, which fees need checking, how digital banking works, and where official verification should be done before opening an account, sending funds or visiting a branch.
Founded 1968
SWIFT: DBSSSGSG
Bank Code: 7171
MAS Regulated
Main Details
DBS Bank Ltd.
DBS Group Holdings Ltd.
1968
12 Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore 018982
Monetary Authority of Singapore
Tan Su Shan, Group CEO and Director since March 2025
DBSSSGSG
7171
DBS digibank, DBS PayLah!, DBS IDEAL
Retail, wealth, SME, corporate and institutional banking
Eligible Singapore-dollar deposits are covered under SDIC rules, subject to limits
DBS account terms, interest tiers, fees, promotions, transfer charges and branch services can change. Use this page as general banking information, then verify product terms through the relevant DBS official page before applying or transacting.
About DBS Bank Singapore
DBS is headquartered in Singapore and operates across major Asian markets. In Singapore, it serves retail customers through DBS and POSB, while businesses use DBS corporate banking, SME banking, transaction banking, treasury services and DBS IDEAL. The bank is listed in Singapore through DBS Group Holdings and is recorded in the MAS Financial Institutions Directory.
For everyday customers, DBS is often used for salary crediting, savings accounts, debit cards, credit cards, PayNow, FAST transfers, GIRO payments, housing loans, fixed deposits, travel wallets and digital account management. Readers comparing bank access can also check DBS branch opening hours for location-specific service planning.
Retail Banking
Personal savings, cards, transfers, PayNow, GIRO, loans, fixed deposits and app-based banking.
Wealth Banking
DBS Treasures, Treasures Private Client, Private Bank, investment products and advisory access for eligible clients.
Business Banking
SME accounts, corporate accounts, cash management, trade services, collections and DBS IDEAL online banking.
DBS Accounts and Deposit Products
DBS offers several personal and business account types. The right starting point depends on whether the user needs a simple account, bonus-interest account, multi-currency wallet, fixed deposit or business operating account. For general preparation, the document checklist in documents for account opening is useful before starting an online or branch application.
| Account / Product | Main Use | Segment | Digital Access | Fee / Balance Note | Official Verification |
|---|---|---|---|---|---|
| DBS Multiplier Account | Savings account with bonus-interest mechanics tied to eligible banking activity | Personal | Can be opened or managed through DBS/POSB digibank when eligible | DBS states a S$5 monthly service charge if average daily balance falls below S$3,000, with waiver conditions for customers aged 29 or below. | DBS Multiplier |
| DBS My Account | Simple multi-currency account for everyday banking and travel wallet use | Personal | Available through DBS/POSB digibank for eligible applicants | DBS states no minimum balance and zero service charge; paper statement account fee may apply unless waived. | DBS My Account |
| Fixed Deposit | Term deposit for customers who want a fixed tenor and stated rate at placement | Personal | Placement may be available online depending on customer status and currency | Rates, tenors, currency options and early withdrawal effects should be checked before placement. | DBS account comparison |
| eMulti-Currency / Multi-Currency Account Options | Holding and spending multiple currencies from one banking relationship | Personal | Currency balances and spending can be managed through DBS digital channels | Currency support, exchange rates, card usage and account fees vary by product type. | DBS deposit accounts |
| DBS Business Multi-Currency Account | Operating account for SMEs and companies that receive or pay in more than one currency | Business | DBS IDEAL and business digital tools | Monthly service charge, annual fee and setup-fee treatment depend on ownership profile and account bundle. | DBS business account |
| DBS Treasures / Wealth Account Access | Wealth relationship access, investments, advisory support and selected banking privileges | Wealth | DBS digibank, digiWealth and relationship channels | Eligibility thresholds, service fees and product charges differ by relationship tier. | DBS Treasures |
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Banking Services Available Through DBS
DBS covers both everyday banking and more specialised banking needs. A personal customer may use DBS mainly for salary, savings, debit cards, PayNow and bill payments, while a business customer may use DBS for receivables, payroll, trade finance, FX, corporate cards and cash management.
Payments
- PayNow transfers
- FAST transfers
- GIRO arrangements
- Bill payments
- MEPS for high-value transfers where applicable
Cards
- Debit cards
- Credit cards
- Contactless payments
- Overseas card usage
- Card controls through digital banking
Borrowing
- Home loans
- Renovation loans
- Car-related financing
- Personal credit products
- Business financing
Wealth
- Fixed deposits
- Investment products
- Insurance distribution
- DBS Treasures access
- Private banking for eligible clients
For Singapore transfers, DBS supports local electronic transfer methods such as PayNow, FAST, GIRO and MEPS through its banking channels. For background on how the local real-time system works, see FAST transfers in Singapore.
DBS Digital Banking in 2026
DBS digibank is the main digital channel for personal customers. It is used for account balances, transfers, bill payments, card services, new account applications, credit card applications and selected wealth actions. DBS also operates DBS PayLah! for payments and DBS IDEAL for business and corporate banking.
Personal Digital Banking
- View account balances and statements
- Transfer money through PayNow and FAST
- Pay bills and manage GIRO
- Apply for selected accounts and cards
- Manage card limits and selected security controls
Business Digital Banking
- Use DBS IDEAL for business payments
- Manage corporate account activity
- Handle collections and supplier payments
- Support authorisation workflows
- Access trade, cash and treasury-related tools where eligible
For mobile-number, NRIC/FIN and UEN transfer setup, the background page on PayNow setup in Singapore explains how the national PayNow identifier system fits into local banking.
Digital banking access should be verified only through official DBS channels. Do not share passwords, OTPs, digibank credentials or card security codes with anyone claiming to help with account setup, fee waivers or transfers.
DBS Fees and Service Charge Areas
DBS fees depend on account type, customer segment, channel, balance level, transfer route, card type and promotion period. The table below lists common fee areas users normally need to verify before opening or using a DBS product. For wider banking context, the page on minimum balance requirements explains how fall-below fees work across Singapore deposit accounts.
| Fee Area | Category | Publicly Stated Detail | What to Check | Official Verification |
|---|---|---|---|---|
| DBS Multiplier Fall-Below Charge | Account | DBS states S$5 per month if average daily balance falls below S$3,000, with waiver conditions for customers aged 29 or below. | Check current waiver rules, bonus-interest categories and balance tiers before relying on the account for bonus interest. | DBS Multiplier fees |
| DBS My Account Service Charge | Account | DBS states no minimum balance and zero service charge for My Account. | Check paper statement fee treatment, eStatement enrolment and child-account conditions. | DBS My Account fees |
| Overseas Funds Transfer | Transfer | Charges can differ by route, channel, currency, handling commission, cable charge and agent bank charge. | Check the final fee and exchange rate on the transfer screen before confirming a remittance. | DBS transfer fees |
| Overseas ATM Withdrawal | Card | DBS card fee pages list overseas ATM service charges and preferential charges for selected networks. | Check ATM operator fees, card network fees, foreign exchange rate and DBS card fee schedule. | DBS card fees |
| Credit Card Cash Advance | Card | Cash advance finance charges and minimum charges are listed separately from regular retail spending charges. | Check the applicable card’s latest cash advance rate, minimum charge and compounding treatment. | DBS card charges |
| Business Multi-Currency Account | Business | Business account fees can include setup, monthly, annual or service charges depending on bundle and ownership profile. | Check whether the applicant is fully locally owned, which account bundle is chosen and whether IDEAL charges apply. | DBS business pricing |
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Published fees may change after product revisions, promotion periods, GST updates, account conversions or channel changes. Official DBS pricing pages and in-app confirmation screens should be treated as the final customer-facing reference.
Branches and ATM Access
DBS and POSB operate branches, ATMs and self-service options across Singapore. This profile page does not replace a branch directory, because branch operating hours, queue services and available counters can differ by location. For a local directory format with addresses and opening-hour checks, use the dedicated DBS branch locations page.
Branch Visits
Use branches for services that require in-person checks, document review, account support or banker assistance.
ATM and Self-Service
Use ATMs and self-service machines for cash, card and selected account tasks where available.
Official Locator
Confirm opening hours, queue notes and service availability through the DBS branch locator before travelling.
Branch and ATM access is only one part of DBS banking. Many transfers, bill payments, card controls and account requests can be handled digitally. For cash access and network basics, see ATM withdrawal networks.
DBS Financial Indicators
DBS reported record full-year total income and profit before tax for FY2025, while net profit was lower than FY2024 due mainly to higher taxes linked to the 15% global minimum tax. The figures below use group-level annual report data, not account-level product returns.
Net Profit Trend
| Year | Total Income | Net Profit | ROE | Notes |
|---|---|---|---|---|
| 2025 | SGD 22.9 billion | SGD 11.0 billion | 16.2% | Total income reached a new high; net profit declined from 2024 due to higher tax effects. |
| 2024 | SGD 22.3 billion | SGD 11.4 billion | 18.0% | Net profit reached an all-time high in FY2024. |
| 2023 | SGD 20.2 billion | SGD 10.3 billion | 18.0% | Total income crossed SGD 20 billion for the first time. |
Financial figures should be read as DBS Group historical results. They do not indicate future deposit rates, card rewards, investment performance, credit approval or personal suitability. The latest investor materials are available through the DBS investor relations page.
Recent DBS Developments in 2026
DBS continues to add digital and wealth-related services in Singapore. These updates matter because DBS customers may see more product activity inside digibank, more wealth advisory locations and more merchant payment options, but eligibility and product risk still need official checks.
DBS announced tokenised physical gold for customers in Singapore, with retail access planned through DBS digibank in the second half of 2026. The product is backed by physical gold held by DBS, but it remains an investment product and should not be treated as a deposit.
DBS announced plans to open 18 new wealth centres and upgrade 36 existing centres across core markets by 2027, with Singapore wealth-centre access linked to eligible wealth segments.
DBS announced a tap-to-phone feature through the DBS MAX app, allowing eligible merchants to accept card payments using Android smartphones without a separate payment terminal.
DBS Account Opening
DBS states that new customers can open personal My Account and Multiplier Account directly on DBS or POSB digibank mobile, subject to eligibility and document checks. Foreigners, pass holders, students and business owners may face different document requirements depending on residency, tax status and product type.
Select between simple savings, Multiplier, multi-currency, fixed deposit or business account needs.
Have identity, residency, employment, address and tax-related details ready where required.
Use DBS/POSB digibank for eligible personal applications or DBS business channels for company accounts.
Some applications open instantly; others may need extra checks or follow-up documents.
For users deciding between remote and branch channels, online account opening gives a broader Singapore context before starting a DBS application.
Account approval is not guaranteed. DBS may request additional documents or information after submission, and account terms may differ by customer profile, residency status, age, product and risk review.
DBS SWIFT Code, Bank Code and Transfers
For international incoming transfers, DBS states that the DBS/POSB SWIFT code is DBSSSGSG. For local bank-code use, DBS/POSB’s bank code is 7171. POSB accounts use the standard branch code 081, while DBS account branch code handling may depend on the first three digits of the account number according to DBS support notes.
| Code Type | DBS Detail | Used For | Official Check |
|---|---|---|---|
| SWIFT / BIC | DBSSSGSG | Receiving overseas transfers into DBS/POSB accounts | DBS SWIFT support |
| Bank Code | 7171 | Local bank-code fields and selected payment instructions | DBS bank code support |
| Branch Code | Varies by account structure; POSB standard branch code is 081 | Selected local payment or form fields | DBS branch code support |
For a dedicated transfer-code page, use the separate DBS SWIFT code reference before entering international payment details.
Before sending funds, verify the recipient name, bank name, account number, currency, SWIFT code, bank code, branch code and transfer fee. A correct SWIFT code alone does not confirm that every transfer detail is correct.
Deposit Insurance and Product Safety Notes
DBS states that eligible Singapore-dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, structured deposits, investment products and other non-deposit products may not receive the same treatment.
Usually Checked Under Deposit Insurance
- Eligible Singapore-dollar savings deposits
- Eligible Singapore-dollar fixed deposits
- Eligible Singapore-dollar current account deposits
- CPFIS and SRS treatment where separately covered under scheme rules
Not the Same as a Deposit
- Investment products
- Insurance products
- Structured deposits where excluded
- Foreign currency deposits where scheme rules exclude them
For overseas transfers, exchange costs and agent bank charges can affect the received amount. The broader fee context is covered in international transfer fees.
For deposit insurance wording, check the DBS Deposit Insurance Scheme page and the Singapore Deposit Insurance Corporation.
DBS Compared With Other Local Banks
DBS is usually considered alongside OCBC and UOB when users compare Singapore current accounts, savings products, home loans, cards, wealth services and branch access. The best fit depends on account usage, salary crediting, card spending, digital habits, travel currencies and whether the user values branch access or app-based service.
| Comparison Area | DBS Consideration | What to Compare |
|---|---|---|
| Everyday Account | DBS My Account and DBS Multiplier serve different user profiles. | Minimum balance, interest mechanics, card linkage, digital opening and paper statement fees. |
| Digital Transfers | DBS supports PayNow, FAST, GIRO and other transfer channels. | Transfer limits, cut-off times, fee treatment and overseas transfer pricing. |
| Branch Access | DBS/POSB has wide physical access, but service availability varies by location. | Weekend hours, counter services, queue options, ATM deposit support and self-service lobbies. |
| Wealth Relationship | DBS Treasures and Private Bank tiers apply to eligible clients. | Eligibility threshold, advisory model, product charges, custody fees and service-fee rules. |
Users comparing local bank profiles can also review OCBC Bank Singapore and UOB Bank Singapore for different account and branch-access structures.
Verification Notes
Use official sources for final confirmation: the MAS Financial Institutions Directory for licence status, DBS Singapore pages for product terms, DBS support pages for SWIFT and bank codes, DBS pricing pages for fees, DBS investor relations for annual results, DBS locator for branch access and SDIC for deposit insurance rules.
For Account Terms
Check DBS product pages, application screens and product terms before opening or converting an account.
For Fees
Check the relevant fee page for the account, card, wealth relationship, business product or transfer channel.
For Branch Visits
Check the DBS locator on the day of visit, especially during public holidays, renovation periods or service changes.
FAQ
Is DBS Bank a local bank in Singapore?
Yes. DBS Bank Ltd. is incorporated in Singapore and appears in the MAS Financial Institutions Directory. It is part of DBS Group Holdings Ltd.
What is the DBS Singapore SWIFT code?
DBS states that the DBS/POSB SWIFT code for receiving overseas funds is DBSSSGSG. Always verify the recipient name, account number and transfer details before sending money.
What is the DBS bank code in Singapore?
DBS/POSB’s bank code is 7171 according to DBS support information. Branch-code treatment depends on whether the account is DBS or POSB.
Can foreigners open a DBS account in Singapore?
DBS provides account-opening routes for eligible foreigners, but requirements depend on pass type, residency, tax status and documents. DBS may request additional information after application submission.
Does DBS My Account have a minimum balance?
DBS states that My Account has no minimum balance and zero service charge. Paper statement account fees and waiver conditions should still be checked on the official DBS product page.
Are DBS deposits insured in Singapore?
Eligible Singapore-dollar deposits are insured by SDIC up to S$100,000 in aggregate per depositor per Scheme member by law. Investment products and foreign currency deposits may be treated differently.
