OCBC to become first non-Malaysian bank to allow Singapore saving accounts to hold ringgit from Oct 23
OCBC Bank in Singapore is allowing customers to hold Malaysian ringgit in their personal savings accounts starting October 23, 2026. This move makes OCBC the first non-Malaysian bank to offer this service, enabling easier spending and ATM withdrawals in Malaysia.
Why it matters
This development simplifies cross-border financial transactions for travelers and businesses between Singapore and Malaysia, challenging the traditional limitations of non-internationalized currencies.
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)
Abigail Ng 21 Oct 2026 07:42PM Bookmark Bookmark Share WhatsApp Telegram Facebook Twitter Email LinkedIn Set CNA as your preferred source on Google Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. Get bite-sized news via a new cards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FAST 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).
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