3 Types Of Frequent Travellers Who Would Benefit From OCBC Adding Malaysian Ringgit To Its Multi-Currency Savings Accounts

Singaporeans love travelling to Malaysia. In the first half of 2026 alone, there were 10.74 million tourist arrivals from Singapore, a 4.39% increase compared to the same period in 2025, which was already up 22.5% compared to 2024. This is undoubtedly due to the convenience of travelling there, including being exempted from submitting the Malaysia Digital Arrival Card and the use of automated immigration gates. Adding to that convenience now is OCBC, which becomes the first non-Malaysian bank to offer Malaysian Ringgit in Singapore-based savings account.

From today, 23rd October 2026, OCBC customers with a multi-currency savings account such as the Global Savings Account or Premier Global Savings Account can convert Singapore dollars to Malaysian Ringgit at competitive exchange rates. The Malaysian Ringgit is a “tightly controlled non-internationalised currency”, according to the bank’s media release announcing this, with limited opportunities for individuals to hold the currency in bank accounts outside Malaysia.

Currently, Singaporeans can keep Malaysian Ringgit only through Maybank’s Global Access Account-i, launched in August last year, or through multi-currency digital wallets such as YouTrip or Wise. Notably, none of these methods will earn interest (or profit, since Maybank’s GAA-i is Shariah-compliant).

You can now hold up to 50,000 Malaysian Ringgit in your OCBC Global Savings Account and earn 1% per annum interest until 30 June 2027. Thereafter, customers will earn interest of 0.5% per annum. No minimum balance is required.

This means customers will be rewarded even more for locking in favourable exchange rates between Malaysian Ringgit and Singapore Dollars, because they can store it and earn interest on the balance, all without relying on physical trips to money changers or multi-currency digital wallets.

#1 Frequent Travellers To Johor Bahru

Obviously, the biggest beneficiaries of such an account will be those travelling often to Malaysian destinations such as Johor across the Causeway. This group is expected to grow even larger once the Johor Bahru-Singapore Rapid Transit System (RTS) Link starts operation.

Customers who regularly spend between 500 and 1,000 MYR per weekend trip, for example, would now be freer to plan ahead and convert larger amounts of SGD to MYR when rates are favourable.

Across multiple trips, these currency-exchange savings add up. You can make payments using the linked OCBC debit card, using the physical card or adding it to Apple Pay or Google Pay for greater convenience.

This ensures that no foreign currency transaction fees are incurred, since payment is being made directly from the savings account in MYR.

Travellers can also make withdrawals from bank-operated ATMs in Malaysia without incurring ATM usage fees. Withdrawals at non-bank-operated ATMs in Malaysia may incur an additional service charge imposed by the operator, which varies by bank.

Read Also: Is Going to JB Still Worth It? A Practical Guide to Saving Money (and Making the Most of It)

#2 Singaporeans Who Own Property In Malaysia

While many restrictions limit the types and values of property non-Malaysians can own in Malaysia, that hasn’t stopped many Singaporeans from considering buying property there.

With the ability to store MYR and earn interest in an OCBC Global Savings Account, property owners can benefit from converting more MYR when exchange rates are favourable, rather than being limited to exchanging only when bills are due.

Regular maintenance fees and utility bills, or less regular payments such as renovations or property taxes, can now be done by locking in exchange rates ahead of future spending, and earning interest on the amounts long before you need to use them.

Read Also: 5 Things Singaporeans Need To Know Before Buying A Property In Johor Bahru

#3 Singaporeans Who Have Children Studying In Malaysia

With some Singaporean families sending their children to Malaysian universities or international schools there, accounts like OCBC’s Global Savings Account now make it even more convenient to convert SGD to MYR as and when exchange rates are favourable and then store them till they need to make payments for their child such as tuition fees, accommodation and other living expenses.

This account would also benefit the rest of the family members when they travel to Malaysia.

Read Also: 5 Internationally-Recognised Enrichment Programmes That You Can Enrol Your Kids In Johor