Asset Management
What's New In Investments, Funds? – OCBC, Malaysia
The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.
OCBC
OCBC will be adding the
Malaysian ringgit to its multi-currency savings accounts from 23
October. The bank said this will make it the first
non-Malaysian lender to let customers hold the currency in a
Singapore-based personal savings account.
Holders of the OCBC Global Savings Account and Premier Global Savings Account will be able to convert Singapore dollars into ringgit (MYR) and hold up to MYR50,000 ($12,000). Ringgit balances will earn interest, which OCBC said digital multi-currency wallets do not offer.
The ringgit is a tightly controlled currency. Individuals have limited options for holding it in bank accounts outside Malaysia.
The addition takes the number of currencies available in the account to 11. Customers can spend balances with a linked OCBC debit card without foreign currency transaction fees. They can also withdraw ringgit from OCBC ATMs in Malaysia without foreign exchange conversion, administrative or third-party operator charges.
Global Savings Account openings rose by more than 25 per cent between July and September 2026, after a tightening of Singapore’s monetary policy in July strengthened the Singapore dollar.
Malaysia is the most popular overseas spending destination for OCBC customers, accounting for one in three of their overseas transactions.