Free Foreign Currency Transfers from DBS Multi-Currency Account (MCA) to FSM

We've been listening closely to your feedback. Many of you requested a fast, zero-fee way to transfer foreign currencies—such as USD, HKD, GBP, EUR, CNH, and many more—directly to your FSM account.

FSMOne.com
FSMOne.com12 Feb 2026 14343 Views
Free Foreign Currency Transfers from DBS Multi-Currency Account (MCA) to FSM

As we kick off 2026, we're excited to announce that your wish has come true! This major new feature is now live on FSMOne.

Say Goodbye to Transfer Fees: Free Foreign Currency Transfers from DBS

One of our most requested features is finally here. Starting today, you can transfer non-SGD funds—such as USD and HKD—directly from your DBS Multi-Currency Account (MCA) to your FSM account at NO cost.

Why this matters:

Previously, moving foreign currency from your bank to FSMOne required a Telegraphic Transfer (TT), which came with hefty fees. Now, you can bypass the TT entirely and move your funds fee-free. This makes smaller and more frequent transfers far more practical and cost-effective.

How to do it:

1)      Log in to your DBS digibank or iBanking.

2)      Ensure that your account held with DBS is the DBS Multi-Currency Account

3)      Confirm you have sufficient balance in the relevant currency wallet

4)      Select Pay & Transfer

5)      Choose Local (IMPORTANT: Always select 'Local' to avoid fees and ensure the transfer processes correctly)

6)      Select a recipient > Send to someone new

7)      Select DBS/POSB

8)      Go to the FSM Cash Account page to retrieve our DBS Multi-Currency account number (Important security note: To prevent scams, the account number and other deposit details are only visible after you log in to your FSM account.)

Click here to view -  https://secure.fundsupermart.com/fsmone/cash#depositTopUpInstructions

9)      Key in FSM/iFAST DBS Multi-Currency account number

The account number should end with “XXXXXXX550”

10)       Enter the amount you wish to transfer.

Important: In the "Add comments for recipient" (or "Purpose/Remarks") field, include your FSM Account number (which starts with PXXXXXXX).

It is essential that you provide your FSM Account number here. Without it, we will not be able to credit the funds to your FSM Multi-Currency Cash Account.

11)      Ensure all details are correct before transferring


Supported Currencies

  1. SGD – Singapore Dollar
  2. USD – US Dollar
  3. AUD – Australian Dollar
  4. CAD – Canadian Dollar
  5. CNH – Chinese Renminbi (Offshore)
  6.  EUR - Euro
  7. GBP – Pound Sterling
  8. HKD – Hong Kong Dollar
  9. JPY – Japan Yen
  10. NZD – New Zealand Dollar


Withdrawals from FSM to DBS MCA

Note: As of the publication of this article (12 Feb 2026), withdrawals of non-SGD currency from FSM to DBS are subject to TT fees. We are currently working on a feature to allow your withdrawal to be free of charge.


eGIRO Linkage

For eGIRO linkage, the DBS Multi-Currency Account is not supported. You must use a regular DBS SGD account or an SGD account from another bank.

Need Investment Advice?

Still unsure about what to invest in? Feel free to email us at advisory@fundsupermart.com or make an appointment to visit our new office at Singapore Land Tower, Level 36, where you can receive investment advice and recommendations from our friendly, professional, and non-commission-based investment advisory team.




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