OCBC MyOwn Account review: fees, features and alternatives for kids

Helping your child learn to manage money is important. Kids accounts like the OCBC MyOwn Account¹ can give children a safe way to practise everyday SGD spending, while giving parents ways to stay involved.

This OCBC MyOwn Account review covers the account’s main features, card options and fees, so you can decide whether it’s a good fit for your child.

Families looking for a card for travel or overseas spending may also want to compare it with Wise Young Explorer, which is available for children and teens aged 6 to 17 and can be useful for spending in foreign currencies. More on that later.

What is the OCBC MyOwn Account?

The OCBC MyOwn Account is a kids savings account with a linked OCBC kids card, aimed at children aged 7 to 15.

It comes with themed card designs, youth-focused money features and a Parent’s Dashboard. Parents can use this dashboard to view transactions, set limits and stay involved while their child learns to manage everyday SGD spending.

How does the OCBC MyOwn Account work?

If you already have an eligible OCBC account, you can open the MyOwn Account for your child in the OCBC app.

If you’re not an OCBC customer yet, you’ll usually need to:

1. Open an OCBC 360 Account² for yourself
2. Apply for the MyOwn Account for your child
3. Order your child’s OCBC kids card
4. Set up the Parent’s Dashboard to manage limits and view transactions

OCBC waives the opening deposit requirement and fall-below fee for the first year. After that, you’ll need to hold at least 3,000 SGD in your 360 Account to avoid a 2 SGD/month fall-below fee.

Is the OCBC MyOwn Account safe?

The OCBC MyOwn Account includes safety features that help parents monitor and manage their child’s spending. Through the Parent’s Dashboard, parents can view transactions, set spending limits, freeze a lost card and disable the child’s card if needed.

OCBC MyOwn Account features

The OCBC MyOwn Account has a selection of new customer offers in place at the time of writing which could see your child benefit from discounts or free access to enrichment courses and money management workshops.

Once your account is open you can order a card for your child, set up your parent’s dashboard to keep track of transactions, and organise regular transfers and deposits if you’d like to, for pocket money and day to day spending needs.

The OCBC MyOwn Account is built around 3 main features: saving, card spending and parental oversight.

OCBC kids account for saving and spending

Families could use the OCBC MyOwn Account for saving - the OCBC MyOwn Account interest rate is 0.05% at the time of research (22nd April 2026). There’s no minimum holding to receive interest, and no minimum balance needed to avoid fall below fees.

It’s also a good account to use for day to day spending. Parents can use the account to schedule regular transfers - for pocket money for example - to make sure children can securely receive and hold their payments, and spend as needed.

OCBC also has tools to help children learn more about saving and budgeting, including digital education and challenges. This can help kids learn how to manage their money in the future as well as while they’re growing.

OCBC kids card and debit card features

The OCBC MyOwn Account comes with an OCBC kids debit card. There’s no upfront card order fee, and the first 2 replacements in a 12 month period are free. After that, replacement charges apply.

Key card features include:

• 15 card designs, including Disney and Star Wars co-branded options
• Contactless payments for local and overseas spending
• ATM access
• Partner promotions for things like food delivery and cinema tickets
• Foreign transaction fees for overseas card use

Once your child chooses a card design, that’s the design they’ll keep, so it’s worth choosing one they’ll like for a while.

Parental controls and oversight

The OCBC MyOwn Account allows parents to monitor their child’s transactions with their parent’s dashboard. You can also set limits, schedule transfers and get instant transaction notifications so you know what your child is doing with their money.

Parents also have access to a ‘kill switch’ to disable the child’s card if needed for security.

Limits on this account are set at 10 SGD/day as a default for most transaction types, but can be increased or managed in the parent’s view of the account app, allowing you to set controls which suit your child’s age and needs.

OCBC MyOwn Account fees

Before you decide if this is the right account and card for your family, it's important to understand the OCBC MyOwn Account fees which may apply. Here are some key costs - you can learn more in the specific terms and conditions sheet which is issued when you sign up, or available on the OCBC website:

*Details correct at time of research - 22nd April 2026

Summary: Is the OCBC MyOwn Account right for your child?

The OCBC MyOwn Account can be a good fit for families who want a local Singapore kids bank account. It’s only available where the parent is a Singapore citizen or Permanent Resident residing in Singapore, and the child is a Singapore citizen, Permanent Resident or foreigner born in Singapore.

This account can be most useful if your child mainly spends and saves in SGD, but may be less suitable if your child travels often or spends in foreign currencies thanks to fairly high foreign transaction fees.

To get the best fit for your specific family needs, parents can compare a few different options looking at features, fees and controls before choosing. You can also read our guide to the best debit cards for kids in Singapore to explore more options.

Wise Young Explorer: Kids card with no monthly or annual fees

The Wise Young Explorer card is available for children and teens aged 6 to 17. It can be useful for families who want a parent-managed card for travel, overseas spending or international online shopping. Children can also get access to their own child-friendly view of the Wise app. This lets them see how much they have available to spend, helping them build confidence managing money independently while parents stay in control.

Parents stay in control through their own Wise account. You can:

• Set spending limits
• Get real-time transaction alerts
• Monitor where and how much your child spends
• Top up their balance when needed

Aside from a one-off card order charge, there are no monthly or annual fees. Your child can pay in-store and shop online in 150+ countries. They’ll get the mid-market exchange rate, low transparent conversion fees and no foreign transaction fee when spending in foreign currencies.

🚀 Get a Young Explorer card

*Note that Young Explorer cards issued in Singapore can’t be used for ATM withdrawals, either in Singapore or overseas.