OCBC adds Malaysian ringgit to Singapore-based multi-currency savings accounts

Singapore's second-largest bank OCBC on Wednesday (Oct 21) announced that it will add the Malaysian ringgit (MYR) to its multi-currency savings accounts, making it the first non-Malaysian bank here to hold the currency in a local personal savings account.

The ringgit is a non-internationalised currency, making opportunities for individuals to hold the currency in bank accounts outside of Malaysia limited, OCBC pointed out.

It added that with the ringgit's addition, its customers can convert currencies ahead of their travel or spending needs, and spend with a linked OCBC debit card without foreign currency transaction fees.

They can also withdraw ringgit from all OCBC ATMs in Malaysia without incurring foreign exchange (FX) conversion charges, administrative fees or third-party operator fees.

The lender cited its data findings, which showed that consumers tend to lock in favourable exchange rates.

"Consumers are increasingly conscious about FX movements and exchanging currencies when the Singapore dollar (SGD) strengthens."

OCBC added that this was evident after the tightening of Singapore's monetary policy in July 2026 , when Singapore dollar strengthened, and the number of global savings accounts climbed by more than 25 per cent in the three months that followed.

Turning to the upcoming Johor Bahru-Singapore Rapid Transit (RTS) Link, the Singapore bank said its opening is expected to further drive cross-border travel and consumer spending across the Causeway.

It noted that spending by Singapore residents across the Causeway has already been growing at a compound annual growth rate of 25 per cent since 2022.

"Accounting for one in three overseas transactions, Malaysia is OCBC customers' most popular overseas spending destination, with dining and shopping as the two largest spending categories."

OCBC's head of group wealth management Tan Siew Lee pointed out that while a small difference in exchange rates may seem insignificant, the savings can add up quickly over dozens of trips and years of spending.

She added that OCBC's launch of ringgit on its global savings account means that its customers no longer have to choose between favourable exchange rates and growing their savings.

"They can now do both," Tan said.

The currency's addition to OCBC's global savings account and premier global savings account will begin on Oct 23, with customers earning an interest of 1 per cent on their balance till June 30 next year.

Thereafter, the interest rate per annum becomes 0.5 per cent.

OCBC customers can hold up to RM50,000 in their global savings account at any point of time, the bank said.

新加坡第二大银行华侨银行（OCBC）周三（10 月 21 日）宣布，将在其多币种储蓄账户中添加马来西亚林吉特（MYR），使其成为新加坡第一家在本地个人储蓄账户中持有该货币的非马来西亚银行。

华侨银行指出，令吉是一种非国际化货币，因此个人在马来西亚境外的银行账户中持有令吉的机会有限。

该公司补充说，随着令吉的加入，其客户可以在旅行或消费前兑换货币，并使用关联的华侨银行借记卡进行消费，而无需支付外币交易费。

他们还可以从马来西亚所有华侨银行自动取款机提取令吉，而无需支付外汇兑换费、管理费或第三方运营商费用。

该贷款机构援引其数据调查结果称，消费者倾向于锁定有利的汇率。

“消费者越来越关注外汇走势，当新加坡元（SGD）走强时，他们会进行货币兑换。”

华侨银行补充说，这一点在新加坡于 2026 年 7 月收紧货币政策后就显而易见，当时新加坡元走强，随后三个月内全球储蓄账户数量增长超过 25%。

谈到即将开通的新柔地铁（RTS）连接线，这家新加坡银行表示，该线路的开通预计将进一步推动新柔长堤两岸的跨境旅行和消费。

报告指出，自 2022 年以来，新加坡居民在长堤两岸的消费额已以 25% 的复合年增长率增长。

“马来西亚是华侨银行客户最喜爱的海外消费目的地，占海外交易总额的三分之一，其中餐饮和购物是两大消费类别。”

华侨银行集团财富管理主管陈秀丽指出，虽然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，节省的费用会迅速累积起来。

她补充说，华侨银行在其全球储蓄账户中推出令吉，意味着其客户不再需要在有利的汇率和储蓄增长之间做出选择。

“他们现在可以两件事都做了，”谭说道。

该货币将于 10 月 23 日起加入华侨银行的全球储蓄账户和卓越全球储蓄账户，客户可享受 1% 的年利率，直至明年 6 月 30 日。

此后，年利率变为0.5%。

华侨银行表示，客户在全球储蓄账户中最多可持有 5 万令吉。