For security reasons, requests to unlock can only be made through our Customer Service Hotline at +603 8317 5000 (Monday to Sunday from 8.00am to 10.00pm) or by visiting your nearest OCBC branch during banking hours (Monday to Friday from 9.30am to 4.00pm).
For Premier and Premier Private Client customers, you may also contact our Premier Hotline at +603 8315 4288 (Monday to Sunday from 8.00am to 10.00pm).
Please note that when you request to release the locked funds through our Customer Service, the process will not be immediate.
Safeguard your money with OCBC Money Lock
WHAT IS OCBC MONEY LOCK
OCBC Money Lock is our latest anti-scam security feature designed to give you greater control and enhanced protection over your finances. With Money Lock, you can securely lock the funds in your current and savings accounts to prevent unauthorized withdrawals or transfers. Additionally, you can extend this protection to your Fixed Deposit accounts, ensuring that your savings remain safe from any unauthorized access.
By locking the funds in your current/savings account(s) and securing your Fixed Deposit account(s), you are adding an extra layer of protection against scams.
BENEFITS
Money Lock on the go
Use the OCBC Malaysia Mobile Banking app or OCBC Internet Banking anytime or anywhere to lock:
- Funds in your current and/or savings account(s) or increase the locked amount
- Your Fixed Deposit account(s)
Greater peace of mind
Funds in your current/savings account(s) can only be released, or your Fixed Deposit account(s) unlocked, after we verify your identity. This means that, even in the unlikely event where a scammer gains digital access to your account(s), your locked funds will remain safe.
No impact on your account benefits
Even when you lock the funds in your current or savings account(s), your locked funds will still count towards the account balance for the purposes of earning interest.
If you lock your Fixed Deposit account, you will continue to earn interest as well.
HOW TO LOCK YOUR FUNDS
Funds can be locked via the OCBC Malaysia Mobile Banking app or OCBC Internet Banking. They will be kept safe until you are ready to release them. Please take the steps below to lock your funds via the OCBC Malaysia Mobile Banking app.
Please note that locked funds cannot be used for all fund-transfers and payments such as DuitNow, Interbank GIRO (IBG), Bill Payments and recurring payments. To avoid late fees and charges, ensure you have sufficient available balance in your account.
How to
for all current and/ or savings accounts
how to release funds
WHAT YOU NEED TO KNOW BEFORE USING OCBC MONEY LOCK
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Locked funds cannot be used for all fund-transfers and payments, including:
- New or existing payment arrangements (e.g. DuitNow, Interbank GIRO (IBG), standing instructions or future-dated transfers)
- Transfers to another OCBC account
- Transfers to another bank’s account (e.g. local and overseas transfers)
- Bill or credit card payments
- Fixed deposit placements or investments
- Insurance purchases or payments
- Cheque payments
- DuitNow QR payments
- Loan or tax repayments
- ATM withdrawals or transfers
To avoid late fees and charges, ensure you have sufficient available balance in your account.
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Locked funds can be partially release or released in full
You can request to partially release your locked funds or release it in full via OCBC Customer Service Hotline at +603 8317 5000 or by visiting any OCBC branch.
Your funds will only be released after we verify your identity. Please note that when you request to release the locked funds via OCBC Customer Service, the process will not be immediate.
You can then submit a request to lock a new amount via OCBC Malaysia Mobile Banking app or OCBC Internet Banking. -
Can I use OCBC Money Lock to lock all types of Fixed Deposit accounts?
No. Foreign Currency Fixed Deposit accounts and joint Fixed Deposit accounts where all account holders must jointly perform any action cannot be locked. -
Does locking my Fixed Deposit account only protect placements I make after I lock it? Will placements I made in the past also be protected?
Once a Fixed Deposit account is locked, all placements made under the account will be locked, including existing placements made before the account was locked. Any placements made in the future under your locked Fixed Deposit account will also automatically be locked. -
If my Fixed Deposit placement matures and the funds are credited to my selected current or savings account, will these funds remain locked?
No. Once your placement matures, your funds will be – if you have instructed us to – withdrawn from your Fixed Deposit account and deposited in the account you specified. These funds will not automatically be locked. You may choose to lock them for an extra layer of protection against scams. -
Can I visit an OCBC branch to withdraw funds before its maturity for placements made under my locked Fixed Deposit account?
Yes. You can make a request involving your Fixed Deposit account at an OCBC branch, even if the account is locked.
Locking a Fixed Deposit account only makes it impossible for you to withdraw funds before each placement matures via OCBC Internet Banking. This is to prevent unauthorised access to your funds even in the unlikely event that a scammer gains unauthorised digital access to your account.