The Ledger

Money Lock and Anti-Scam Features: How to Lock Your Savings at Your Bank

Posted by eduKate Asia on

By The Ledger desk · Last verified 28 September 2026

Singapore’s major banks let you lock part or all of your savings so it can’t be moved digitally. Locked money can’t be transferred, used for bill payments or withdrawn through the app, even if a scammer has your phone or your login. Unlocking needs you in person, at an ATM or a branch depending on the bank. DBS calls it digiVault; OCBC and UOB call it Money Lock. Locked money keeps earning interest in your existing account.

Quick facts

  • Lock any amount in the app, instantly.
  • Locked funds can’t be moved by any digital channel.
  • Unlocking is done in person, at an ATM or a branch.
  • Locked money in existing accounts keeps earning interest.
  • Keep enough unlocked for GIRO, bills and daily spending.
  • A separate kill switch freezes everything if you suspect a scam.

How does each bank do it?

BankNameWhat you can lockHow to unlock
DBS/POSBdigiVaultSavings accounts and fixed depositsAt DBS/POSB ATMs, over 1,200 of them
OCBCMoney LockCurrent and savings accounts, time depositsAt an OCBC ATM or branch; overseas customers by secure request
UOBMoney LockExisting savings accountsAt any UOB ATM in Singapore, in person

Other major banks, including HSBC, Maybank and Standard Chartered, were set to offer similar features. The details change, so check your bank’s current terms.

What does locking stop?

At OCBC, for example, locked funds can’t be used for local or overseas transfers (even between your own accounts), GIRO or standing instructions, bill or card payments, fixed deposit placements or investments, insurance payments, loan or tax repayments, or ATM withdrawals and transfers.

What’s the kill switch?

A different tool, for emergencies. OCBC’s, for example, freezes all your current and savings accounts, cards and digital banking at once, through the bank’s hotline or an ATM. After that, no transactions go through by any channel until you restore access.

The WahLiao Verdict

Lock the savings you don’t touch month to month, like your emergency fund or house deposit, and leave enough unlocked for bills and GIRO. It takes a minute in the app, and it’s the difference between a scammer emptying your account and a scammer finding it empty.

Questions people ask

Do I lose interest if I lock my money?

Not when it’s locked within your existing account; it keeps earning as before.

What if I’m overseas and need the money?

Unlocking is designed to be in person, so keep enough unlocked before you travel. OCBC accepts secure requests from overseas customers.

Will locked money pay my GIRO bills?

No. GIRO and scheduled payments can’t draw on locked funds.

Does locking protect me from every scam?

It protects the locked money from digital theft. It can’t stop you unlocking it yourself at an ATM because a scammer told you to.

Sources: OCBC, Money Lock launch and extension to time deposits; UOB, Money Lock; Digital for Life on DBS digiVault; Dollars and Sense on locking savings at the three banks; Fintech News Singapore on OCBC’s kill switch. The Ledger explains; it does not advise.

Read next: The Shared Responsibility Framework · Deposit Insurance in Singapore · Back to The Ledger

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