Maybank Singapore rolls out money lock feature

Customers will need to visit branches or use select ATMs to unlock funds.

Maybank Singapore has rolled out the Money Lock feature.

Customers can set aside their desired amount– in local and foreign currencies– from their savings and current accounts via Maybank Singapore’s online banking channels and mobile apps. They may also visit a branch or use select ATMs to lock their funds.

The “locked” funds will continue to accrue interest based on prevailing rates, Maybank Singapore said in a press release.

To unlock funds, customers will need to make in-person withdrawals at Maybank branches and selected ATMs.