OCBC MyOwn Account | OCBC Singapore

OCBC MyOwn Account

Unlock your child’s financial superpowers

Why you will love this

Your child gets the freedom to spend smart and go cashless with his/her own debit card

You set the spending limits and your child manages his/her own pocket money – all via the OCBC app

Who can open an account

Parents (Singaporean or Permanent Resident residing in Singapore) on behalf of their child

Child (Singaporean, Permanent Resident or foreigner born in Singapore) must be 7 to 15 years old

Apply online

Help your children manage money their way – now with an account they can call “MyOwn”!

THE ALL-IN-ONE STARTER KIT

All children can be savvy with the right gear.
Equip your little money masters with everything they need to get started:

OCBC MyOwn Account

A savings account of their own lets them grow more confident with managing money while you stay in the back seat.

OCBC MyOwn Debit Card

Give them a debit card just for children – there are over 15 designs to choose from.

OCBC app

Our new and simplified OCBC app makes it super easy for them to stay on top of their spending. Plus, a shared dashboard allows you to keep up.

GET THE LOWDOWN ON BENEFITS

Why you should choose MyOwn, if you are

Why you should choose MyOwn, if you are

Stay in the know

Keep tabs on your child’s spending with the OCBC app. Get real-time alerts so you know how, when and where your child is using his/her money. No surprises here!

Remain in control

Set daily transaction limits so your child does not overspend – this could be your chance to teach him/her how to budget and spend wisely.

Scam alert? We have got your back

Just hit the OCBC Kill Switch to suspend the account in a snap. To keep your child’s money extra safe, use OCBC Money Lock to easily lock funds via the OCBC app. Use the OCBC MyOwn Debit Card at any OCBC ATM to release locked funds anytime.

Make pocket money digital

Set a daily, weekly or monthly allowance that goes straight into your child’s account – and cross this to-do off your list for good!

Call your money your very own

Get comfy with saving, spending and budgeting with your own bank account and debit card – even if you do not have a phone. Once your parents decide you are ready for the digital world, team up with them to track your savings and expenses via the OCBC app!

Save, deposit, repeat

Have pocket money you can save? Just pop your spare coins into our cash deposit machines – they are kind of like piggy banks, but way cooler – and watch your savings stack up.

Get your first debit card

Use the card to grab lunch with friends, stock up on school supplies and more. You even get to choose from over 15 fun card designs!

Make your card your own

Using a debit card has never looked this stylish – not with over 15 amazing designs to choose from. Plus, get special deals at your favourite spots all year long!

Go cashless with no fear

Pay for lunch, school supplies and more using the OCBC MyOwn Debit Card or via PayNow on the OCBC app. Need extra cash after school? Swing by any OCBC ATM to withdraw cash in a jiffy.

Keep calm and stay safe

Your money will be in safe hands. The anti-scam features available on the OCBC app – OCBC Kill Switch and OCBC Money Lock – can help make your account extra secure… and they are right at your fingertips.

Get ready to take charge

Your time to shine is now. Take control of your own money with the OCBC app. Plus, level up your budgeting skills and discover awesome financial and digital literacy tips with OCBC Financial Literacy.

ONE CARD, OVER 15 DESIGNS

Let your child own his/her creativity with a debit card design that he/she loves.

Disney and Marvel card designs

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  • LIMITED EDITION
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DRAG

Exclusive MyOwn Debit Card designs

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DRAG

Once your child has chosen a favourite design, it will be his/hers for good – pick wisely!

JOIN THE CLUB AND SNAG REWARDS

Score limited-edition Disney and Marvel blind box pins!

Your child can score limited-edition blind box pins when:

  • You open an OCBC MyOwn Account for him/her and S$10 is deposited within 30 days of that date (one pin);
  • The first S$500 is deposited by 31 December 2024 (one pin);
  • The next S$500 is deposited by 31 December 2024 (one pin); and
  • Your child refers a friend to us – and the friend opens an account too (one pin).

Terms and Conditions apply. While stocks last.

GET READY FOR OUR LAUNCH PARTY

Join us on 20 October from 11 am to 6pm at OCBC Wisma

Here’s what awaits you at our exclusive launch party:

  • For the first time in Singapore, don’t miss the chance to Meet and Greet a special friend from Disney’s Stitch! 
  • First 1,000 visitors will get a goodie bag
  • Complimentary treats: Get popcorn for all, plus a macaron if you dress up as your favourite character. While stocks last!
  • Strike a pose: Capture memories at three themed photo zones and a photo booth
  • Money mastery: Learn about the newly launched OCBC MyOwn Account and teach your little ones to master their money

SIGN-UP PERKS FOR THE FAM

Get a 1-year Disney+ Premium subscription (worth S$159.98) on us

Grab the popcorn – it’s family movie time. Enjoy a year’s worth of Disney+ Premium (worth S$159.98) fun if you are a new OCBC customer who signs up for a 360 Account for yourself and a MyOwn Account for your child by 31 December 2024.

Terms and conditions apply.

Apply now

Apply now

SPECIAL DEALS UP FOR GRABS

Get a flavour of the epic savings the OCBC MyOwn Debit Card could give your child. They can access these exclusive deals on their app: OCBC app > Deals.

CHICHA San Chen

Get exclusive discounts and perks when you mention a special code. Till 31 December 2024.

Shopee

Claim exclusive MyOwn vouchers on selected days. Limited quantities will be available, so grab them as soon as you can. Till 31 December 2024.

More deals to love

Before you apply

Eligibility requirements

Age

Child must be 7 to 15 years old

Nationality

Parent: Singaporean or Permanent Resident residing in Singapore

Child: Singaporean, Permanent Resident or foreigner born in Singapore

Fees for MyOwn Account Debit Card

Annual fee

S$0

Card replacement fee

Waived for the first two replacements made within a 12-month period

Deposit requirements

Initial deposit

S$0

Minimum average daily balance to have fall below fee automatically waived each month

S$0

Account interest rate

0.05% a year

Statement preferences

Monthly statements

Electronic statements only

Letter preferences

Electronic letters only

 

Important notices

Fees and charges

GIRO

Insured Deposits Register

Deposit Insurance Scheme

Fees and charges for debit card

Terms and Conditions

Terms and Conditions governing Deposit Accounts

Terms and Conditions governing Electronic Banking Services

Terms and Conditions governing OCBC Electronic Statements

Terms and Conditions governing Automatic Standing Instruction

Terms and Conditions governing OCBC MyOwn Account

Terms and Conditions governing OCBC MyOwn Account Launch Promotion

Terms and Conditions governing OCBC MyOwn Account Referral Rewards October 2024 Promotion

Ready to get started?

Kickstart your child’s saving journey with the OCBC MyOwn Account

Open account now
You will need an existing OCBC SGD current or savings account to open an OCBC MyOwn Account on your child’s behalf. Do not have one? You will first be asked to open an OCBC 360 Account.
FAQs
Common questions
What services can a child access via the OCBC app?

Children will be able to do the following:

  • View account details and transactions
  • View account transactions
  • Transfer funds using PayNow
  • Make QR payments via the ‘Scan & Pay’ feature
  • Make cardless cash withdrawals at ATMs using the OCBC app
  • Activate debit card
  • Lock/unlock card
  • Replace card
  • Log in to the app using biometrics
  • Activate OCBC Money Lock
  • Activate OCBC Kill Switch
  • Access financial literacy content
  • View deals
What services can a parent of a child with an OCBC MyOwn Account access via the OCBC app?

Parents will be able to do the following:

  • Set up digital access for the child
  • Link/delink the child’s mobile number to/from PayNow
  • View the child’s account details and transactions on a dashboard
  • Set up recurring allowances
  • Manage transaction limits for the child’s account and debit card
  • View the child’s account statements
  • Receive notifications on the child’s account activities
What daily transaction limits can a parent set for the child?

Please refer to the table below for your options. You may manage these transaction limits individually.

PayNow/NETS QR Cash withdrawal using debit card Debit card spending Cardless withdrawal
Deactivate Deactivate Deactivate S$50 (default)
S$10 S$10 S$10  
S$20 S$20 S$20  
S$30 S$50 (default) S$30  
S$40 S$80 S$40  
S$50 (default) S$100 S$50 (default)  
S$80 S$300 S$80  
S$100 S$500 S$100  
S$300 S$1,000 S$300  
S$500 S$500  
S$1,000 S$1,000  
What happens when the child turns 16 – what happens to the accounts/limits/debit card?

We will allow parents the flexibility to choose when to give up supervisor control of the account starting from when the child turns 16. This feature is currently not available and will only be available in 2025. More information will be revealed when this feature is launched.

What can parents/children if they suspect that the account has been compromised?

Parents can choose to activate the OCBC Kill Switch via the OCBC app on the child’s behalf. To authorise this request, we will send an SMS OTP to the child’s number in our records.

Once activated, the OCBC Kill Switch will immediately suspend the child’s current and savings accounts (including joint accounts), OCBC app access and debit cards.

Children can also activate OCBC Kill Switch on their own via the OCBC app.

As a preemptive measure to protect the child’s funds, consider locking them using OCBC Money Lock. Locked funds cannot be transferred out.

Download the OCBC app to open the account instantly. If you do not have an OCBC SGD current or savings account, you will first be asked to open an OCBC 360 Account when you select ‘Open account via OCBC app’.

Open account via OCBC app
Open account via OCBC app

If a third replacement is made during that period, a S$30 fee will apply.

Character meet-and-greet*

Session timings at:

  • 1.00pm – 1.30pm
  • 2.00pm – 2.30pm
  • 3.30pm – 4.00pm
  • 4.30pm – 5.00pm
  • 5.30pm – 6.00pm

*Meet-and-greet sessions are on a first-come, first-served basis.

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