Closing a DBS Multiplier account online is a quick and easy process that can be completed in just a few minutes. Here’s a step-by-step guide on how to do it:
- Log in to your DBS IDEAL account.
- Click on the “Accounts” tab.
- Select the DBS Multiplier account that you want to close.
- Click on the “Close Account” button.
- Follow the on-screen instructions to complete the process.
It’s important to note that once you close your DBS Multiplier account, you will no longer be able to access the funds in that account. You should therefore transfer any remaining funds to another account before closing the DBS Multiplier account.
Things to Consider Before Closing Your DBS Multiplier Account
Before you close your DBS Multiplier account, there are a few things you should consider:
- Make sure you have paid off all outstanding debts. If you have any outstanding debts that are linked to your DBS Multiplier account, you will need to pay them off before you can close the account.
- Transfer any remaining funds to another account. Once you close your DBS Multiplier account, you will no longer be able to access the funds in that account. You should therefore transfer any remaining funds to another account before closing the DBS Multiplier account.
- Cancel any automatic payments. If you have any automatic payments that are linked to your DBS Multiplier account, you will need to cancel them before you close the account.
Alternatives to Closing Your DBS Multiplier Account
If you’re not sure whether you want to close your DBS Multiplier account, there are a few alternatives that you may want to consider:
- Switch to a different DBS account. DBS offers a variety of other account types that may be a better fit for your needs. You can switch to a different DBS account without having to close your DBS Multiplier account.
- Put your account on hold. If you’re not planning on using your DBS Multiplier account for a while, you can put it on hold. This will prevent you from incurring any fees while the account is on hold.
- Reduce your account balance. If you’re concerned about the fees associated with your DBS Multiplier account, you can reduce your account balance. This will help you to avoid paying any unnecessary fees.
Frequently Asked Questions About Closing Your DBS Multiplier Account
Here are some of the most frequently asked questions about closing your DBS Multiplier account:
- How long does it take to close a DBS Multiplier account? It takes just a few minutes to close a DBS Multiplier account online.
- Will I be charged a fee to close my DBS Multiplier account? There is no fee to close a DBS Multiplier account.
- What happens to my funds when I close my DBS Multiplier account? Any remaining funds in your DBS Multiplier account will be transferred to another account that you specify.
- Can I reopen my DBS Multiplier account after I close it? Yes, you can reopen your DBS Multiplier account after you close it. However, you will need to pay a new account opening fee.
Conclusion
Closing a DBS Multiplier account online is a quick and easy process. However, there are a few things you should consider before closing your account. If you’re not sure whether you want to close your account, there are a few alternatives that you may want to consider.
