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What's an External Account?

An external account is a personal deposit account (current or savings) held with a bank in Singapore. This doesn't include your Revolut account, as Revolut doesn't currently hold a banking licence in this region.

Balance limit

Customers with an external account can hold more than the S$20,000 limit, as set by the Payment Services Act, in their Revolut account throughout the day. At the end of each day (between 11.30pm and 11.59pm), any excess balance over S$19,800 (or the foreign currency equivalent) will automatically be transferred to the external account.

This allows you to enjoy greater flexibility around the amount of money you can hold with your Revolut account.