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DBS Bank has launched the DBS Corporate Multi-Currency Account (Corporate MCA) to help businesses transact and manage up to 13 currencies in separate e-wallets all maintained in one single account.
The Corporate MCA enables businesses to send and receive cross-border payments in different currencies and manage their foreign exchange costs more efficiently as incoming currencies are stored in respective e-wallets until exchange rates are in the business’ favor.
In addition, the Corporate MCA does away with the need to maintain a minimum balance in different currency accounts. Instead, all a business has to do, is to maintain a minimum balance of SGD10,000 in the account.
According to an...