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Foreign currency investments or deposits are subject to inherent exchange rate fluctuations that may provide opportunities and risks. Earnings on foreign currency investments or deposits would be dependent on the exchange rates prevalent at the time of their maturity if any conversion takes place. Exchange controls may be applicable from time to time to certain foreign currencies. You should therefore determine whether any foreign currency investment is suitable for you in the light of your investment objectives, financial means and risk profile. Any pre-termination costs will be deducted from your deposit.
Yes, you can open a subsequent account via OCBC Velocity to serve your business needs such as receiving of funds in different currency or segregating of transactions for better financials management.
In the event that you are not able to complete your application on OCBC Velocity, you may reach out to us directly via the online enquiry form. The bank will contact you within 3 working days to assist you.
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Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
SDIC Consumer Guides
No physical contact needed, no crowd. Open your business account online and get your account number on the spot. Simple, safe and convenient.
A business account for companies incorporated outside of Singapore
Transact internationally with up to 13 major currencies. No set-up fee, no fall below fee.
