OCBC Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
OCBC Bank suits people in Singapore who want a single account to hold several currencies and move money abroad, with a currency conversion fee of 0% and 10 currencies available at the same time. The savings account is easy access, pays 4.45% on a variable basis, and costs SGD 2 a month.
Key facts
- Best for
- A Singapore account for expats who convert and save at the same time.
- Monthly fee
- SGD 2↗
- Currency conversion fee
- 0%↗
- Currencies
- 10↗
- Transfer fee
- 0 SGD per wallet transfer; admin or transaction fees may apply↗
- Legal entity
- Oversea-Chinese Banking Corporation Limited↗
- Headquarters
- Singapore↗
- Founded
- 1932↗
- Support channels
- Phone, Help-centre↗
- Audience
- Expats, Teens
- Pricing model
- No monthly fee, Low FX fees
- Features
- Joint account
- Official website
- ocbc.com
Savings
Money transfer
Facts checked September 26, 2026, 6 sources
Pros and cons
Pros
- Currency conversion is 0% on the multi-currency account, against 3% to 4% at PayPal Colombia and 3.99% at Skrill.
- An easy access savings account paying 4.45% on a variable rate.
- Wallet and card payouts with a transfer fee of SGD 0 and same-day delivery.
- Support runs on phone and help centre, and the account is available as a joint account.
Cons
- The monthly fee is SGD 2 a month, where the site median is €0.
- Access is on demand through the app and internet banking, with e-statements only.
- A minimum deposit of SGD 1,000 is needed to open the savings account.
Who it suits
- Expats and teens in Singapore, the audiences the bank names.
- Anyone who converts often, since conversion is 0% and payout is same-day.
- Savings customers who want access without a term, on an easy access account.
Who should look elsewhere
- Not for anyone who wants to pay a conversion charge: PayPal Colombia lists 3% to 4% and Skrill 3.99%.
- Not for people shopping on currencies alone: eToro covers 5 against OCBC Bank's 10, so weigh the rate and the monthly fee too.
- Not for anyone wanting a monthly fee-free account, since the savings account charges SGD 2.
How OCBC Bank compares
9.3 vs 8.7
9.3 vs 8.6
9.3 vs 8.0
9.3 vs 8.9eToro covers 5 currencies, fewer than the 10 held here.
9.3 vs 9.1
9.3 vs 9.2
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 9.0Skrill charges 3.99% to convert, where this account charges 0%.
9.3 vs 8.7
9.3 vs 9.5
9.3 vs 9.4
9.3 vs 9.3
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.1
9.3 vs 9.0
9.3 vs 9.0
9.3 vs 8.9
9.3 vs 8.9- 9.3 vs 8.9
9.3 vs 8.7
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.4
9.3 vs 8.3
9.3 vs 8.2
9.3 vs 8.1- 9.3 vs 8.1
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 9.1
Where OCBC Bank is available
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to keep an account with OCBC Bank?+
The savings account carries a monthly fee of SGD 2. Currency conversion on the multi-currency account is 0%, and wallet transfers cost SGD 0, though admin or transaction fees may apply on some transfers. A minimum deposit of SGD 1,000 is needed to open.
How many currencies can I hold, and what does converting cost?+
The multi-currency global savings account holds 10 currencies at the same time and charges 0% to convert between them. Other providers in the comparison cost more: PayPal Colombia lists 3% to 4% and Skrill lists 3.99%.
What rate do I earn, and can it change?+
The account pays 4.45% on a variable basis, so the rate can move with the market. It is an easy access account, so money can be reached on demand, and a minimum deposit of SGD 1,000 applies.
How do I get help if something goes wrong?+
Support runs on phone and help centre, so a phone line and a help centre cover most questions. The account itself is reached through the app and internet banking, with a wide network of ATMs and branches for anyone who prefers cash.
How do payouts work and how quickly do they arrive?+
Payouts go to a wallet and card, with a transfer fee of SGD 0 per wallet transfer, though admin or transaction fees may apply. Delivery is same-day, and balance access is on demand through the app and internet banking.
Who is OCBC Bank built for?+
OCBC Bank serves people banking in Singapore and names expats and teen among its customers, with a joint account option for couples. The bank has been running since 1932 under the legal entity Oversea-Chinese Banking Corporation Limited.
Is this an easy-access account or a fixed-term one?+
It is easy access, so money can be reached on demand through the app and internet banking. The rate is variable, so the 4.45% can move, and a joint account option lets couples hold the account together.
How does it compare with the brands around it?+
The account takes an overall 7.8, with the cost part at 8 and the offer part at 7.4. On currency conversion fee it ranks 1 out of 312 brands compared, at the 0% charged here.
Sources
- ocbc.com/group/about-us/group-business.page checked September 26, 2026
Backs: Founded, Headquarters
“OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912”
- ocbc.com/group/conditions-of-access checked September 26, 2026
Backs: Legal entity
“Access to this website or any page of the same is granted by Oversea-Chinese Banking Corporation Limited (hereinafter known as "OCBC Bank")”
- ocbc.com/personal-banking/accounts checked September 26, 2026
Backs: Audience
“Singapore Bank Account: An account for individuals relocating to Singapore that can be opened remotely; OCBC FRANK Account: An account for youths between 16 to 26”
- ocbc.com/personal-banking/deposits checked September 26, 2026
Backs: Access terms
“Over 1,000 ATMs Get cash at all OCBC and UOB ATMs”
- ocbc.com/personal-banking/deposits/360-savings-account checked September 26, 2026
Backs: Account kind, Features, Headline rate, Minimum deposit, Monthly fee, Rate type, Support channels
“You will earn a base interest of 0.05% a year on your entire account balance regardless of whether you fulfil the above categories.”
- ocbc.com/personal-banking/deposits/multi-currency-global-... checked September 26, 2026
Backs: Currencies, Currency conversion fee, Pricing model
“Access up to 10 major currencies in one account”
- ocbc.com/personal-banking/investments/forex-trading checked September 26, 2026
Backs: Delivery time, Payout methods, Transfer fee, Fee to send 1,000
“Enjoy same-day transfers* with zero cable and commission fees^ and competitive foreign exchange rates for 19 currencies including AUD, USD and MYR”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.
Related by the facts
OCBC Bank
A Singapore account for expats who convert and save at the same time.