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OCBC digital banking review

A hassle-free online solution that saves you a trip to the bank.

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Digital banking is not only convenient, but essential. Traditional banks, including OCBC, have thus launched online banking solutions to ease its customers’ banking experience. Read on to find out more about OCBC Digital Banking, including its features, fees and security.

What is a digital bank?

A digital bank refers to a bank that offers services online, as opposed to traditional brick-and-mortar establishments. Some digital banks, better known as neobanks, are completely based online. Others are hybrid mixes that offer physical banks and online services.

OCBC falls under the latter — being a traditional bank, it has recently offered complementary online services to make banking more accessible to its customers.

OCBC digital banking features

  • Actionable insights. Manage your finances with personalised wealth and investment tips generated in your digital banking account.
  • Monitor transactions. View recent transactions across your accounts in a centralised dashboard.
  • Banking assistant. Pay bills and more by speaking or typing to your personalised, AI-based banking assistant.
  • OCBC Pay Anyone. Make cashless payments for on-the-go transactions. This feature also allow you to withdraw cash by scanning the QR code at any OCBC ATMs.
  • Funds transfer. Transfer funds via PayNow or FAST and enjoy lower costs for overseas fund transfers.
  • GIRO. Automate your payments by setting up GIRO (General Interbank Recurring Order) with OCBC or directly through IRAS.
  • Money In$ights. Track your spending in one place and get tips to manage your expenses. Set budgets and alerts to know when you’re exceeding your limits.
  • Invest on the go. Buy, sell and monitor unit trusts, Singapore Government Securities and BCIP with OCBC digital banking. Set alerts to monitor unit trust price movements and stay on top of your investments.

Is OCBC digital banking safe?

OCBC is a well-established traditional bank that’s been familiar to Singaporeans for a long time. It is a regulated by the Monetary Authority of Singapore (MAS) and is equipped with plenty of online features to ensure the security of your money.

  • Digital token. Use your OneToken to access and secure your online finances.
  • Guarantee against fraudulent transfers. OCBC guarantees a full refund of any money that has been transferred out of your account due to fraud via digital banking services.

What are the benefits of OCBC digital banking?

  • Wide range of online banking features. Users get full control and knowledge of online transactions.
  • Useful resources. Tips to improve budgeting, wealth management and personal investing based on AI algorithms.
  • Intuitive design. Transfer funds, make payments and invest in a few swipes.

What should I watch out for?

  • Not all features are available. Does not completely eliminate the need for a physical bank. A trip to your nearest branch may be required for changing key account details.

How can I sign up for an OCBC digital bank account?

You can only apply for an OCBC digital banking account if you already own an OCBC account or card.

If the above applies to you, you can activate OCBC digital banking services via OCBC’s online portal. Simply fill in the required details and submit the form for instant access to mobile banking. Alternatively, you can visit any local OCBC account to set up your online banking account.

Bottom Line

OCBC digital banking is a quick, easy way to manage your finances. It’s great for having a transparent overview of your money, learning how to manage your expenditure and making payments on the go.

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