OCBC to become first non-Malaysian bank to allow Singapore saving accounts to hold ringgit from Oct 23

Customers can spend the ringgit using OCBC debit cards or withdraw the currency at ATMs in Malaysia.

People walk in front of the Oversea-Chinese Banking Corp (OCBC) headquarters in Singapore, on Nov 7, 2025. (Photo: Reuters/Yantoultra Ngui)

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SINGAPORE: OCBC customers will soon be able to hold up to RM50,000 (US$12,000 or S$15,700) in a Singapore-based personal savings account and earn interest on those cash balances, the bank said on Wednesday (Oct 21).

From Oct 23, customers who have an OCBC Global Savings Account or Premier Global Savings Account will be able to convert Singapore dollars into Malaysian ringgit.

OCBC said the exchange rate will be competitive and there will be no foreign currency transaction fees or high mark-ups. Customers can then spend the ringgit using OCBC debit cards or withdraw the currency at ATMs in Malaysia.

It will become the first non-Malaysian bank to allow customers to hold ringgit in a Singapore-based savings account, following in the footsteps of fintech companies such as YouTrip and Wise that also allow ringgit to be held in their multi-currency e-wallets.

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less "As (Malaysian ringgit) is a tightly controlled non-internationalised currency, opportunities for individuals to hold the currency in bank accounts outside Malaysia are limited," said OCBC. An internationalised currency refers to a currency that is widely used outside of its own borders, such as the US dollar. OCBC said customers can earn 1 per cent interest per annum until Jun 30 next year, and 0.5 per cent per annum thereafter, noting that e-wallets do not pay interest on cash balances. No minimum balance is required. The bank said customers are increasingly conscious of currency movements and buy foreign exchange when the Singapore dollar strengthens, citing data that showed consumers built up yen balances when the Japanese currency weakened. OCBC also noted that the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link is expected to further drive cross-border travel and consumer spending in Malaysia.

"As (Malaysian ringgit) is a tightly controlled non-internationalised currency, opportunities for individuals to hold the currency in bank accounts outside Malaysia are limited," said OCBC.

An internationalised currency refers to a currency that is widely used outside of its own borders, such as the US dollar.

OCBC said customers can earn 1 per cent interest per annum until Jun 30 next year, and 0.5 per cent per annum thereafter, noting that e-wallets do not pay interest on cash balances. No minimum balance is required.

The bank said customers are increasingly conscious of currency movements and buy foreign exchange when the Singapore dollar strengthens, citing data that showed consumers built up yen balances when the Japanese currency weakened.

OCBC also noted that the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link is expected to further drive cross-border travel and consumer spending in Malaysia.

Head of group wealth management Tan Siew Lee said many Singaporeans already make frequent trips to Malaysia for work and leisure.

" Singaporeans are savvy and rate-conscious. They keep a close eye on FX (foreign exchange) because they want to get the most value from every dollar they exchange," she said.

"A small difference in exchange rates may seem insignificant, but over dozens of trips and years of spending, the savings can add up quickly," Ms Tan added.

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顾客可以使用华侨银行借记卡消费令吉，也可以在马来西亚的ATM机上提取令吉。

2025年11月7日，人们走过位于新加坡的华侨银行（OCBC）总部大楼前。（图片：路透社/Yantoultra Ngui）

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新加坡：华侨银行周三（10月21日）表示，该行客户很快将能够在新加坡的个人储蓄账户中持有高达50,000令吉（12,000美元或15,700新元），并赚取这些现金余额的利息。

从 10 月 23 日起，拥有华侨银行环球储蓄账户或卓越环球储蓄账户的客户将能够把新加坡元兑换成马来西亚林吉特。

华侨银行表示，汇率将具有竞争力，且不收取外币交易手续费或高额加价。客户可以使用华侨银行借记卡消费令吉，或在马来西亚境内的自动取款机提取。

它将成为第一家允许客户在新加坡储蓄账户中持有令吉的非马来西亚银行，此前 YouTrip 和 Wise 等金融科技公司也允许在其多币种电子钱包中持有令吉。

CNA游戏 猜词游戏 逐行破解单词 流行词游戏 用给定的字母组成单词 迷你数独 小谜题，脑力挑战 迷你填字游戏 小方格，大挑战 单词搜索 尽可能多地找出单词 显示更多 显示更少 “由于（马来西亚林吉特）是一种受到严格管制的非国际化货币，个人在马来西亚境外银行账户中持有该货币的机会有限，”华侨银行表示。国际化货币是指在其境外广泛使用的货币，例如美元。华侨银行表示，客户在明年6月30日之前可获得1%的年利率，之后为0.5%，并指出电子钱包不支付现金余额利息。没有最低余额要求。该银行表示，客户越来越关注汇率波动，并在新加坡元走强时购买外汇，并援引数据显示，当日元走弱时，消费者会积累日元余额。华侨银行还指出，即将开通的新山-新加坡快速交通系统（RTS）连接线有望进一步推动马来西亚的跨境旅游和消费支出。

华侨银行表示：“由于（马来西亚林吉特）是一种受到严格管制的非国际化货币，个人在马来西亚境外的银行账户中持有该货币的机会有限。”

国际化货币是指在本国境外广泛使用的货币，例如美元。

华侨银行表示，客户在明年6月30日之前可享受1%的年利率，之后年利率为0.5%，并指出电子钱包现金余额不计息。无最低余额要求。

该银行表示，客户越来越关注汇率波动，并在新加坡元走强时购买外汇，并援引数据显示，当日元走弱时，消费者会积累日元余额。

华侨银行还指出，即将开通的新山-新加坡快速交通系统（RTS）连接线有望进一步推动马来西亚的跨境旅游和消费支出。

集团财富管理主管陈秀丽表示，许多新加坡人经常因工作和休闲前往马来西亚。

“新加坡人精明且对汇率很敏感。他们密切关注外汇市场，因为他们希望每一美元的兑换都能获得最大价值，”她说。

“汇率上的微小差异看似微不足道，但经过数十次旅行和多年的消费，节省的金额会迅速累积起来，”谭女士补充道。

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