1. What is OCBC Money Lock?

   Our latest anti-scam security feature – OCBC Money Lock – allows you to lock some or all the funds in your account(s) to protect them from scams. You can choose to lock the extra funds that you don’t need for your regular or planned expenses.

   By locking your funds and releasing them when needed, you are adding an extra layer of protection from scams. For your security, your funds can only be released after we verify your identity.

2. Why should I use OCBC Money Lock

   Scammers and cybercriminals often use tactics like malware attacks to gain access to your account(s) and/or payment information like your debit card details.

   When you lock your funds, it adds extra protection to keep them safe from scammers and cybercriminals. So, even if someone tries to access your account without permission, your locked money will stay secure.

3. What happens when my funds are locked?

   When your funds are locked, they cannot be used for all fund-transfers and payments, including:

   • New or existing payment arrangements (e.g. DuitNow, Interbank GIRO (IBG), bill payments, 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

   Please note that locked funds cannot be used for DuitNow, Interbank GIRO (IBG) or recurring payments. To avoid late fees and charges, ensure you have sufficient available balance in your account.

4. How much of my funds should I lock away

   Only set aside the portion of your funds that you won’t need for short-term expenses. A common rule of thumb for saving from your monthly salary is to save about 20% of your income. However, this amount can vary depending on your personal situation, expenses and goals.

5. Do I have to open a new account to use this feature

   No. You can lock the funds in your existing current and/or savings account(s) seamlessly via the OCBC Mobile Banking app or Internet Banking. To ensure that you continue to enjoy the benefits of your account(s), your locked funds still count in your account balance and earn interest.

6. Can I request to release the locked funds

   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 Customer Service, the process will not be immediate.

7. If I do not use OCBC Money Lock, are my funds safe

   We have a robust security features and other measures in place to protect your account(s) and funds from falling into the wrong hands. However, should incidents that are out of our control happen (e.g. your device is stolen or infected with malware), locking your funds gives you extra protection for your money.

   Scammers are adept at finding new and sophisticated ways to break into devices and bank accounts, and tricking people into revealing their personal and banking details. By locking your funds, you stay one step ahead and feel safer because the lock can only be released after we verify your identity.

Locking

1. How much funds can I lock?

   You can lock some of or all your funds – in multiples of MYR 10 – in your existing current and/or savings account(s). You may not access these funds until you release them.

   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.

2. How can I lock my funds using OCBC Money Lock?

   You can lock the funds in your existing current and/or savings account(s) seamlessly via – the OCBC Malaysia Mobile Banking app and OCBC Internet Banking.

   Please follow these step-by-step guides to lock the funds in your existing current and/or savings account(s).

3. How long will it take for my Money Lock request to be processed?

   You request will be processed immediately. We will send you a push notification/SMS and email informing you that your funds have been locked.

4. How do I increase the amount locked in my account(s)? Can I submit multiple requests to lock funds in the same account(s)?

   You can increase the amount locked in your account(s) anytime. You do not need to release your locked funds first.

   For example, if you decide to lock MYR 1,000 in your account today and increase that locked amount to MYR 2,000 tomorrow, all you have to do is submit another request via the OCBC Malaysia Mobile Banking app or OCBC Internet Banking. Your funds will be locked immediately and your locked amount updated to MYR 2,000.

   Please follow this step-by-step guide to increase the amount of funds locked in your account.

5. I have locked my funds using OCBC Money Lock. Will the locked amount count towards my account balance for the purposes of earning interest?

   Yes. Funds under OCBC Money Lock will count towards the account balance for the purposes of earning interest.

Releasing

1. How do I release my funds?

   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 Customer Service, the process will not be immediate.

2. How long will it take for my funds to be released?

   Your funds will only be released after we verify your identity. Please note that when you request to release the locked funds, the process will not be immediate.

   If you are living overseas, you may contact OCBC Customer Service Hotline for fund release.

3. Can I release my funds at an OCBC ATM?

   No. You can only release your funds by contacting OCBC Customer Service Hotline or by visiting any OCBC branch. 

   For your convenience, if you have plans to go overseas and may need to access your locked funds during that period, we encourage you to release your funds via OCBC Customer Service or by visiting your nearest branch before your travel.

4. May I release a portion of the funds I have locked?

   Yes, you can partially release your locked funds by contacting OCBC Customer Service Hotline or by visiting any OCBC branch.

5. Why am I unable to release my funds via the OCBC Malaysia Mobile Banking app or OCBC Internet Banking?

   For your security, your funds can only be released after we verify you. Because locked funds cannot be released via digital channels, cybercriminals cannot get to them even if they gain digital access (e.g. through malware attacks) to your account(s). It is much harder for cybercriminals to gain access your account(s) and funds through physical methods like visiting an OCBC branch.

1. Can I use my locked funds to make DuitNow, Interbank GIRO (IBG), scheduled or recurring payments?

   No. When your funds are locked, you cannot use them for:

   • New or existing payment arrangements e.g. DuitNow, Interbank GIRO (IBG), bill payments, 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
   • Loan or tax repayments
   • Cheque payments
   • DuitNow QR payments
   • ATM withdrawals or transfers

   You may not access your locked funds until you release them. Do keep enough available balance to avoid late fees and charges.

2. What happens if charges to my account exceed my available balance (i.e. funds that are not locked)?

   Please ensure that you keep enough available balance in your account for all your expenses and payment arrangements. If a scheduled payment cannot be made due to insufficient funds, you may incur late fees and charges. For such fees and charges, please refer to your account’s Terms and Condition.