What is a USD savings account?

A USD savings account is a savings account that allows you to hold, transact, and deposit in US Dollars.

Who should open a US Dollar deposit account?

Frequent Travelers who travel frequently to the United States or other countries where the US Dollar is widely accepted. Expats and Foreign Employees who earn income in US Dollars or need to send money back home in US Dollars. Investors looking to diversify their currency holdings and hedge against currency fluctuations. Businesses engaged in international trade that make/ receive transactions in US Dollars. Parents/ Students who need to manage funds for tuition payments living expenses related to studying abroad in the US or other countries that use the US Dollar.

Can Singaporeans/Permanent Resident open a USD account in Singapore?

Yes. For Standard Chartered Singapore’s USD$aver account, Singaporean / PR eligible applicants must be 18 years and above.

Can a non-Singaporean/Permanent Resident open a USD account in Singapore?

Yes. For Standard Chartered Singapore’s USD$aver account, eligible non-Singaporean/Permanent Resident must hold valid employment passes and the applicants must be 18 years and above.

Is there a minimum deposit to the USD$aver Account?

Yes. The USD$aver Account has a minimum average daily balance requirement of USD 10,000. If the average daily balance falls below the minimum amount for any particular month, there is a fall-below fee of USD10 per month.

Can I open my USD savings deposit account online?

Yes. You can open your USD$aver Account online conveniently through Standard Chartered’s website.

Can the USD$aver be opened as a joint account?

The USD$aver Account can be opened as a personal account OR a joint account.

How is USD$aver Account A different from a fixed deposit?

The USD$aver Account is different from a fixed deposit as there is no lock-in period when it comes to the USD$aver account.

How do I withdraw funds from my USD$aver Account?

You can withdraw cash from your USD$aver Account at an ATM using your USD High debit card or at Standard Chartered Branches. Applicable fee may apply.

Can I open more than one USD$aver account?

Yes. You can open a maximum of two (2) USD$aver accounts at any one time with Standard Chartered Singapore. However, each of your USD$aver accounts must have different account operating authority details.

USD$aver: High yield USD savings account with up to 3.50% p.a.

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Proceed

USD$aver Account

Earn up to

5.00% p.a. interest

on eligible deposit balance of USD $3 million

With

No Lock-in period

Enjoy the flexibility to access your funds at anytime

Earn

2% cashback

on all MasterCard transactions with USD High Debit Card

Note: We will be revising the interest rates from 1 May 2025. Refer here for full details.

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USD$aver account is a high interest savings account with no lock-in period, allowing access to your US dollar funds anytime, anywhere.

For a limited time only, you can get up to 5.00% p.a. interest with your USD$aver Account.

Attractive high interest rates

Get attractive high interest on your USD Deposit with no lock-in period

No lock-in

Enjoy the flexibility to withdraw funds anytime, anywhere.

Earn cashback

Enjoy 2% cashback on all MasterCard transactions with the USD High Debit card*, no annual fee.

Save on currency conversion

Save on foreign currency conversion¹ on USD denominated transactions.

Convenient Banking

Easy access to Online Banking and Mobile Banking that allows you to manage your money and complete transactions anywhere in the world at any time

Base interest rate

Earn up to 3.00% p.a. interest all year round for account balances up to USD3,000,000 with USD$aver. No lock-in, no minimum spend and no salary crediting.

Limited time Top Up Promotion^#

Earn up to 2.00% p.a. additional Bonus Interest on your fresh funds* deposit.

BALANCE IN YOUR USD$AVER ACCOUNT	PREVAILING INTEREST RATE^		TOP UP BONUS INTEREST^#
First USD50,000	0.05% p.a.	+	Earn Additional Bonus interest for 3 months on your incremental fresh funds* New-to-deposits clients – 2.00% p.a. Existing-deposits clients – 1.00% p.a.
Next USD150,000	0.50% p.a.
Next USD1,300,000	1.50% p.a.
Next USD1,500,000	3.00% p.a.

Important notes:

Account balances exceeding USD3,000,000 shall earn prevailing interest of 0.05% p.a.
^The maximum effective interest rate (EIR) on the prevailing rate on your USD$aver account is 2.35% p.a. for deposit balance of USD3,000,000.
* “Fresh funds” means funds that do not originate from any existing account with the Bank or funds thatare not withdrawn and re-deposited within 30 days of the Promotion Period.
^#Bonus Interest is applicable on your incremental average daily balance of each month during the Bonus Interest earning period as compared to 30 April 2025 balance (capped at USD3,000,000).

Key charges of USD$aver Account

Service	Charges
Minimum initial deposit	US$1
Fall-below fee	US$10 per month if average daily balance for the month falls below US$10,000
Monthly service charge	US$0
Unarranged overdraft	Prime +5%, minimum US$5
Early account closure fee (within 6 months)	US$20
Debit Card Annual Fee	US$0

Refer here for all the relevant fees and charges

Eligibility & documents to open a USD savings account

Eligibility

Nationality: Singapore citizen / Singapore permanent resident / foreigner
Age requirement: Minimum 18 years old

Documents Required

Mandatory supporting documents for Singapore citizens and permanent residents:

NRIC (front and back)
Mandatory supporting documents for foreigners:
Passport

Employment Pass

Any of the following documents:
- Utility bill within the last 3 months
- Bank statement within the last 3 months
- Letter from the human resource department of current employer stating address
- Government-issued documents stating address (e.g. IRAS, CPF, ICA)
- Telecommunications bill within the last 3 months
- Tenancy agreement

Terms & Conditions: USD$aver Account

For details, please click here.

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⁺Exclusions apply. Cashback cap at USD100. Please refer to USD$aver terms and conditions at the link above for more details. MasterCard transactions incurred with merchants based outside of Singapore are subject to a charge of 1% of the transaction as imposed by MasterCard International on the Bank

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USD$aver Account

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