OCBC has announced the addition of Malaysian ringgit (MYR) to its multi-currency savings accounts, marking a first for non-Malaysian banks. From 23 October 2026, customers can convert Singapore dollars into MYR at competitive rates, holding up to MYR50,000 in their OCBC Global Savings Accounts. This move allows customers to earn interest on MYR balances, a feature not available on digital multi-currency wallets.
The inclusion of MYR strengthens OCBC’s multi-currency offering, which now supports 11 currencies. Customers can convert currencies ahead of travel or spending needs and use their OCBC debit card in Malaysia without incurring foreign exchange fees. This development comes as Singapore residents increasingly spend in Malaysia, with transactions growing at a compound annual rate of 25% since 2022.
The upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link is expected to further boost cross-border travel. Tan Siew Lee, Head of Group Wealth Management at OCBC, noted, “Singaporeans are savvy and rate conscious. The launch of ringgit on OCBC’s Global Savings Account will be particularly powerful for such consumers.”
OCBC’s initiative reflects a growing trend of consumers locking in favourable exchange rates. Following a strengthening of the Singapore dollar in July 2026, Global Savings Account openings increased by over 25% between July and September. This trend was also seen in January 2026 with the Japanese yen.
OCBC’s move provides greater financial flexibility for Singaporeans frequently travelling to Malaysia, allowing them to manage their currency needs more effectively.
