What will happen to my Deposit Accounts?
New DBS deposit account(s) will be opened for you and your deposits will be transferred to DBS after the Transfer. You will also gain access to our full suite of products and services to help you grow your wealth.
Which DBS Deposit Account Will I Get?
You will be provided with a DBS Multi-Currency Savings Account (“MCY”)
An all-in-one account that allows you to save and transact in 14 different currencies.
Benefits:
Tailored to your transaction needs:
- Choices of 14 currencies
- Linkage with ATM card and accessible via multiple channels: DBS iBanking, DBS digibank and Phone Banking to meet all your banking needs
- Comprehensive banking services, including ATM, Monthly Statements and Autopay Services
Better manage your foreign currency exposure:
- Easy currency conversion to take advantage of any foreign exchange movement
- Cash withdrawal in foreign currencies
- Receive foreign currency funds directly in your account
Things to note:
If your balance is pledged with Lombard Loan, an additional DBS Wealth Management Account (“WMA”) will be created, and the whole balance in ANZ Savings / Savings Plus Account will be migrated to DBS WMA.
You may transfer the money between the DBS MCY and the DBS WMA via internet banking or through your Designated Relationship Manager.
Interest rates:
MCY interest is calculated daily and credited monthly. Interest calculation is based on 365 days for SGD, GBP and HKD, and 360 days for all other currencies. For more details, please click here.
For ANZ Savings Plus customers, DBS will continue to offer the existing preferential deposit interest rates provided by ANZ, or the prevailing DBS MCY account preferential deposit interest rates, whichever is higher, for 3 months after the Transfer. For detail, please refer to the Terms and Conditions.
For more details about MCY, please click here.
For more details of your product, please refer below:
You will be provided with a DBS Save & Cheque Account for your HKD Current Account
Enjoy the convenience of earning interest and issuing cheques (HKD) under a single account, without the hassle of transferring funds.
Benefits:
- Earn interest on your HKD checking account
- Complimentary chequebook
- Enjoy ease of funds transfers between accounts
Things to note:
If your balance is pledged with Lombard Loan, an additional DBS Wealth Management Account (“WMA”) will be created, and the whole balance in ANZ Current Account will be migrated to DBS WMA.
You may transfer the money between the DBS Current Account / DBS Save & Cheque Account and the DBS WMA via internet banking or through your Designated Relationship Manager.
Interest rates:
DBS Save & Cheque Account interest is calculated daily and credited monthly. Interest calculation is based on 365 days for HKD.
If you are currently holding a USD/CNY current account at ANZ, you will be provided with a DBS Current Account.
Chequebook:
Your ANZ cheques dated on or before Friday, 8 September 2017 will be processed by DBS for 6 months from the date of issuance. From Saturday, 9 September 2017 onwards, please start using your new DBS Chequebook, which will be linked to your new DBS Save & Cheque Account and/or DBS Current Account.
For more details about DBS Save & Cheque Account / DBS Current Account, please click here.
For more details of your product, please refer below:
You will be provided with a DBS Time Deposit Account
Enjoy different deposit tenors, currency and renewal instructions to help your money grow.
Benefits:
Competitive interest rates with a choice of Hong Kong Dollars and 13 foreign currencies, including:
- US Dollar (USD)
- Japanese Yen (JPY)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Danish Krone (DKK)
- Pound Sterling (GBP)
- Norwegian Krone (NOK)
- Singapore Dollar (SGD)
- Swedish Krona (SEK)
- Swiss Franc (CHF)
- New Zealand Dollar (NZD)
- Euro (EUR)
- Chinese Renminbi (CNY)
- Preferential interest rates exclusive to DBS Treasures customers
- Enjoy a HK$200 Inward Remittance Handling Fee Rebate when you remit new funds
- Flexible tenors from 1 day to 12 months
- Ideal for customers who are minimal risk seekers
- Greater returns through Time Deposit Online. Check out the latest offers here
Things to note:
If your balance is pledged with Lombard Loan, your ANZ Time Deposit Account will be migrated to the DBS Wealth Management Account (“WMA”).
Maturity instructions:
Your account will follow the same maturity instructions that you gave to ANZ.
If you instructed ANZ to credit your maturity proceeds into your ANZ current / savings account, we will do the same and credit your maturity proceedings into your designated account.
If you want to change your maturity instructions, you can make a request via DBS iBanking / DBS digibank starting from 9.00am Monday, 11 September 2017.
Interest rates:
Interest is calculated and accrued daily, and credited monthly. The interest calculation is based on 365 days for HKD, GBP and SGD, and 360 days for other currencies.
For more details about DBS Time Deposit Account, please click here.
For more details of your product, please refer below:
You will be provided with a DBS Multi-Currency Savings Account (“MCY”) and a DBS Save & Cheque Account (HKD) / DBS Current Account (USD)
An all-in-one account that allows you to save and transact in 14 multiple currencies. Enjoy the convenience of earning interest on your savings and issuing cheques (HKD) under a single account, without the hassle of transferring funds.
Benefits:
Tailored to your transaction needs:
- Choice of 14 currencies
- Linked with ATM card and accessible via multiple channels: DBS iBanking, DBS digibank, Phone Banking to meet all your banking needs
- Free banking services including ATM, Monthly Statements and Autopay Services
Better manage your foreign currency exposure:
- Easy currency conversion to take advantage of any foreign exchange movement
- Cash withdrawal in foreign currencies
- Receive foreign currency funds directly in your account
Save & Cheque account:
- Earn interest on your HKD checking account
- Complimentary chequebook
- Enjoy ease of funds transfers between accounts
Things to note:
If your balance is pledged with Lombard Loan, an additional DBS Wealth Management Account (“WMA”) will be created, and the whole balance in ANZ Wealth Management Account will be migrated to DBS WMA.
You may transfer the money between the DBS Save & Cheque Account / DBS Current Account / DBS MCY and the DBS WMA via internet banking or through your Designated Relationship Manager.
Interest rates:
The DBS MCY Account and the Save & Cheque Account interest is calculated daily and credited monthly. Interest calculation is based on 365 days for HKD, GBP and SGD, and 360 days for all other currencies. For more details, please click here.
Chequebook:
Your ANZ cheques issued dated on or before Friday, 8 September 2017 will be processed by DBS for 6 months from the date of issuance. From Saturday, 9 September 2017, please start using your new DBS Chequebook, which will be linked to your new DBS Save & Cheque Account.
For more details about the MCY Account, please click here.
For more details about DBS Save & Cheque Account / DBS Current Account, please click here .
For more details of your product, please refer below:
Deposits FAQ
Current and Savings Account
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What interest rates can I enjoy with my new DBS Multi-Currency Savings Account (“MCY”)?
The DBS account’s interest is calculated and accrued daily and credited monthly. Interest calculation is based on 365 days for SGD, GBP and HKD, and 360 days for all other currencies. For more details on interest rates that you can enjoy with your new MCY Account and the respective interest calculation, please click here.
Please click here to view interest rates of various accounts.
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What is the interest calculation of my ANZ saving account(s) after the Transfer to DBS?
The DBS account’s interest is calculated and accrued daily and credited monthly. Interest calculation is based on 365 days for SGD, GBP and HKD; and 360 days for all other currencies. For more details, please click here.
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Which foreign currencies are offered through the DBS MCY Account?
The DBS MCY Account offers Hong Kong Dollars (HKD) and 13 foreign currencies:
- US Dollar (USD)
- Japanese Yen (JPY)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Danish Krone (DKK)
- Pound Sterling (GBP)
- Norwegian Krone (NOK)
- Singapore Dollar (SGD)
- Swedish Krona (SEK)
- Swiss Franc (CHF)
- New Zealand Dollar (NZD)
- Euro (EUR)
- Chinese Renminbi (CNY)
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What is the minimum balance requirement for DBS MCY Account?
Please rest assured that there is no minimum balance requirement for DBS MCY Account..
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What are the fees and charges for my DBS MCY Account?
Fees and charges will be waived as long as you maintain your DBS Treasures or DBS Private Bank status. Please visit DBS Treasures or DBS Private Bank for more details on maintaining the respective banking relationship and relevant fees and charges.
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What are the fees for deposit or withdrawal of foreign currency notes?
Please click here for fees and charges on deposit services.
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What will happen to the preferential rates on my ANZ Saving Plus account after the Transfer?
You will be provided with a DBS Multi Currency Savings Account (“MCY”). Subject to T&Cs, DBS will continue to offer the existing preferential deposit interest rates provided by ANZ, or the prevailing DBS MCY account preferential deposit interest rates, whichever is higher, for 3 months after the Transfer.
In the event that ANZ’s rates are higher, the interest will be calculated by using DBS’s rates and credited to your DBS MCY Account on a monthly basis, plus an additional interest amount which will be given in the form of a cash reward and credited to your DBS MCY Account on a monthly basis (“Additional Interest Amounts”). However, you must maintain a valid DBS MCY Account at the time any reward is given. For detail, please refer Terms and Conditions.
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My address and contact details on record with ANZ are outdated. How do I ensure that I receive future communications from DBS?
Please update your contact numbers, email address and mailing address with ANZ, or with DBS if you are an existing DBS customer, at your earliest convenience to ensure you will be able to receive further communications regarding the Transfer.
If you would like to update your address and contact details after the Transfer, please contact DBS directly to ensure that you will receive future communications.
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Where can I find more details about the product terms and features?
Please click here for more details about product terms and features.
Account Access
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How can I access and manage my accounts?
You can visit any DBS branch or manage your accounts via DBS iBanking and DBS digibank, DBS Phone Banking and DBS ATM Card starting from 9.00am on Monday ,11 September 2017.
For more information about our services, please click the links below:
DBS iBanking
DBS digibank
DBS Phone Banking
ATM Card
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I have an existing DBS ATM Card. Will my new DBS account be automatically linked to my existing card?
Your new DBS account will not be linked to your existing DBS ATM Card. We will issue a new DBS ATM Card separately for your new DBS account instead.
Please note that an indicator, “NEW”, will be embossed on your new DBS ATM Card for your easy reference.
We encourage you to consolidate your DBS accounts (up to 10 accounts) into one DBS ATM Card for your convenience. Simply visit any DBS branch or call the DBS Customer Service Hotline for assistance after the Transfer.
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I have received a new DBS ATM Card but no PIN is attached. What should I do?
Please acknowledge your new card via the DBS website (within 4 months from the issue date of the card mailer, otherwise the card will become invalid. For security reasons, your Personal Identification Number (“PIN”) will be sent separately after acknowledgement of your new DBS ATM Card.
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When can I use my ATM card to access my accounts or withdraw cash?
You can access your accounts or withdraw cash by using your DBS ATM Card at ATMs supporting JETCO or China UnionPay networks worldwide, starting from 9.00am on Monday, 11 September 2017.
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I can make balance enquiries for my CNY accounts through my existing ATM card. Will I be able to do so after the Transfer?
We are sorry that your CNY accounts will not be automatically linked to your new DBS ATM Card. You can view your CNY account information through DBS iBanking, DBS digibank or your monthly statement.
Alternatively, you can also apply for a separate DBS ATM Card at any of our DBS branches after the Transfer to access your CNY account and enquire about your account balance as well as withdraw CNY cash.
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I can access my personal accounts using my joint account ATM card. Will I be able to do so after the Transfer?
Yes, you will be able to do so. You can access your joint account using the new DBS ATM Card immediately from 9.00am on Monday, 11 September 2017, while your personal accounts will be available from 9.00am on Tuesday, 12 September 2017.
Chequebook
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Can I continue to use my ANZ chequebook after the Transfer?
No, your ANZ chequebook should not be used on or after Saturday, 9 September 2017.
We have mailed you a new DBS Chequebook by the end of August 2017 and you can start issuing cheques on or after Saturday, 9 September 2017.
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Can I deposit ANZ cheques into my new DBS account after the Transfer?
ANZ cheques dated on or before Friday, 8 September 2017 will continue to be processed for 6 months from the date of issuance.
We have mailed you a new DBS Chequebook by the end of August 2017and you can start issuing cheques on or after Saturday, 9 September 2017.
Recurring instructions
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Will all my existing ANZ direct debit authorisation(s) be transferred to DBS?
All your active ANZ direct debit authorisation(s) will be transferred to DBS and therefore no action is required from you.
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Will all my existing ANZ standing instructions be transferred to DBS?
All your ANZ standing instructions regarding funds transfers from your ANZ account to other banks will be transferred to DBS and therefore no action is required from you.
DBS will support other standing instructions regarding funds transfers into your ANZ account from other banks for 3 months – until Saturday, 9 December 2017. Please notify relevant parties of the upcoming change as soon as you receive your new DBS account details after the Transfer.
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Will all my existing ANZ remittances be transferred to DBS?
All your ANZ remittances regarding funds transfers from your ANZ account to other banks will be transferred to DBS and therefore no action is required from you.
DBS will support remittances regarding funds transfers into your ANZ account from other banks for 3 months – until Saturday, 9 December 2017. Please notify relevant parties of the upcoming change as soon as you receive your new DBS account details after the Transfer.
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I am expecting my salary / recurring funds to be credited to my ANZ account. What will happen to these transactions?
DBS will support these transactions for 3 months – until Saturday, 9 December 2017. Please notify relevant parties of the upcoming change as soon as you receive your new DBS account details after the Transfer.
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Will I receive funds in my new DBS account(s) if someone transfers funds via CHATS to my ANZ account(s) after the Transfer?
Local funds transfers to your ANZ account will be credited to your new DBS account until Saturday, 9 December 2017. Please notify relevant parties of the upcoming change as soon as you receive your new DBS account details after the Transfer.
Time Deposit
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What will happen to my ANZ time deposits?
Based on the original tenor, we will transfer your ANZ time deposits into DBS Time Deposit Account(s) with the same value and maturity dates, and at the original contracted rates with ANZ.
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If I have multiple time deposit accounts with different holdings (personal and joint accounts) under the same mailing address, how many accounts will be opened by DBS?
To help you manage your time deposits, there will be a consolidated time deposit account showing time deposits in different currencies and/or tenors. This account will include all time deposits with the same account holder and registered correspondence address. For joint-name time deposits, those with the same address and the same signing instruction (i.e. both-to-sign or either-to-sign) will be included in a consolidated time deposit account.
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I have instructed ANZ to credit my maturity proceeds into my ANZ current/savings account. What will happen if my time deposit accounts mature after the Transfer?
Your account will follow the same maturity instructions that you provided ANZ.
If you have instructed ANZ to credit your maturity proceeds into your current / savings account, we will do the same. You will be given a DBS Current / Saving Account, into which your proceeds will be credited. -
What is the interest calculation on my time deposit accounts?
Interest calculation is based on 365 days for SGD, GBP and HKD, and 360 days for all other currencies. For more details on the interest calculation and the interest rates that you can enjoy with your DBS Time Deposit Accounts, please click here.
Please click here to view interest rates of various accounts.
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I have a 12-month time deposit and have already fulfilled a 6-month placement period with ANZ. Do I need to fulfil the remaining tenor with DBS?
Yes, you will need to maintain your time deposit till maturity. No interest will be paid and a premature withdrawal charge will be charged if you withdraw your time deposit prior to the maturity date.
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How can I check my ANZ time deposit amount has been transferred to DBS successfully after the Transfer?
Your ANZ time deposit details will be shown on your new DBS statement. Alternatively, you can always check your Time Deposit Account information through DBS iBanking or DBS digibank from 9.00am on Monday, 11 September 2017.
In case ANZ time deposit details cannot been shown on your new DBS statement, DBS will send you a time deposit advice separately for your easy reference.
Deposit Protection Scheme Coverage
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Will the balance(s) in my new DBS account continue to be protected under the Deposit Protection Scheme after the Transfer?
Yes, deposit(s) in Current Accounts, Savings Accounts and Time Deposits with tenors equal to or less than 5 years are qualified for protection under the Deposit Protection Scheme in Hong Kong. Deposits in Multi-Currency Settlement Accounts and Time Deposit Accounts under Wealth Management Accounts are also qualified for protection under the Deposit Protection Scheme in Hong Kong. Eligible deposits taken by DBS are protected by the Scheme up to a maximum limit of HK$500,000 per depositor.
For example:
You have eligible deposit balances of HK$400,000 with DBS and an eligible time deposit of HK$300,000 with ANZ. After the Transfer, you will have deposit balance of HK$700,000 with DBS, of which HK$500,000 is protected under the Scheme.