SINGAPORE, 22 August 2025 - GXS Bank today announced that it has enhanced its anti-scam protection measures for customers with the launch of Money Lock. GXS Bank’s Money Lock is a feature that enables its customers to ‘lock’ some or all of their savings through the GXS Bank app. 

With Money Lock, GXS Bank customers can ringfence the funds in their Saving Pockets through their GXS Bank app, locking up to 8 Saving Pockets. They simply need to go into their Pocket’s settings to enable Money Lock. Their Saving Pocket will be locked immediately. 

GXS Bank’s Money Lock feature is an extra protection that customers should use to protect themselves amid ongoing scam cases. According to the Singapore Police Force, more than S$53 million were lost to scams in Singapore in June 2025 alone. This included more than 600 cases and S$1 million lost to e-commerce scams. Such scams occur when fraudsters trick individuals into falling for a fake ad on social media platforms, such as demanding for pre-payment to view a rental unit. 

Money Lock can enable GXS Bank customers to have peace of mind as they pursue their saving goals. Saving Pockets that have been “locked” will still earn daily interest and customers can continue to add funds to their Saving Pockets. Funds in the GXS Savings Account, including its Saving and Boost Pocket features, remain insured up to S$100,000 by the Singapore Deposit Insurance Corporation Limited.  
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Money Lock: a robust digital safe to protect customers’ savings  

In designing the customer journey for Money Lock, GXS Bank researched the modus operandi of ongoing and trending scams in Singapore to ensure that its customers’ savings are safeguarded well. 

For example, to thwart any impersonators trying to commit fraud, customers will need to schedule a video verification call with a GXS Buddy, the Bank’s customer support officers, to unlock their Saving Pocket. GXS Buddies are trained to identify signs of potential scams and how to advise customers from potentially falling prey to scams. 

Following the video verification, the GXS Savings Account-holder will be notified via their registered email address to alert them that they have made a request to unlock their funds. 

GXS Bank also implements a cooling-off period of 12 hours before the unlocked funds are transferred from the customer’s Saving Pocket into their Main Account. Any GXS Bank customers who suspect that someone else is trying to gain access to their funds can contact the Bank during the 12-hour cooling off period to cancel the unlock request and to keep their money safe. 

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Mr Shahzaib Hassan, Group Chief Technology and Product Officer, GXS Bank, said, “At GXS Bank we are purposeful in designing our banking experience with a degree of friction that we believe is necessary to keep our customers safe. It may sound counter-intuitive to add speed bumps into a digital experience but we do this because scammers often use urgency to scare or entice their victims into making a fraudulent funds transfer. By adding “breaks” throughout the funds transfer process, we hope to provide the time for our customers to consider and verify that the transaction which they are about to make is legitimate. 

We strongly encourage our customers to make use of Money Lock as an additional layer of security for their GXS Savings Account. By securing a portion of their savings and limiting access to those funds, Money Lock serves as a practical defence for them. At the same time, we continue to urge our customers to stay vigilant so that they do not fall prey to scammers. One way that they can do this is to stay updated with scam trends, such as through our regular electronic direct mailers (EDMs) on security literacy or the ScamShield website.” 

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About GXS Bank ‍

GXS Bank is a digital bank focused on making banking better for the everyday consumer and businesses. 

The Bank aims to improve financial inclusion and to drive financial revolution for its customers through the secure and ethical use of technology and data. 

GXS Bank holds a banking licence issued by the Monetary Authority of Singapore. It is owned by a consortium consisting of Grab Holdings Inc. – Southeast Asia’s leading super app, and Singtel – Asia’s leading communications technology group.

As part of a regional network of digital banks, GXS Bank also works closely with GXBank, its digital bank subsidiary in Malaysia and Superbank, a digital bank in Indonesia.

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For media queries, please contact: 

GXS Bank
Maybelline Tan
comms@gxs.com.sg

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SINGAPORE, 15 July 2025 – GXS Bank announced today that it has launched GXS Invest, its digital investment solutions suite for consumers. 

GXS Invest completes the digital bank’s comprehensive suite of wealth solutions to help individuals  grow their savings faster through simple and flexible financial products. In addition to building their savings through the Bank’s deposits features - Saving Pockets and Boost Pockets, GXS Bank customers can now pursue potentially higher returns through GXS Invest. 

At launch, GXS Invest will offer the Fullerton SGD Cash Fund (Class G), a money market fund. GXS Bank chose to launch with a money market fund for its simplicity, which would make it easy for both new and experienced investors to understand. As a low-risk investment product, a money market fund also addresses the needs of the three in five GXS Bank customers who say they are seeking a more conservative risk approach to investing. 

GXS Bank chose the Fullerton SGD Cash Fund as it is an established money market fund with more than 15 years of stable returns. The fund is also managed by Fullerton Fund Management, an award-winning fund house and part of an independent asset management group that is owned by Temasek Holdings. 

Ms Jenn Ong, Group Head of Retail at GXS Bank said, “Our wealth product roadmap started with the GXS Savings Account. With its Saving Pockets and Boost Pockets features, the GXS Savings Account continues to be our most popular product. As our customers grow their savings, GXS Invest is the continuation of their wealth journey.

In speaking to our customers, we know that they are looking for higher returns on their spare cash. At the same time and in light of the ongoing volatile market conditions, they also appreciate the flexibility to withdraw their money when needed. These considerations are fully addressed through the way we designed the GXS Invest journey. Whether you are a new investor or a seasoned investor looking for a simple, low-risk investment vehicle as part of your overall financial portfolio, GXS Invest is designed for you. 

We started with a money market fund as it is generally considered a safe haven across market cycles. Over the next 12 months, we will continue to add to the suite of funds in GXS Invest to address our customers’ different investment needs.” 
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Investing simply, with peace of mind 

GXS Invest is available to all GXS Savings Account-holders, who can start investing in the Fullerton SGD Cash Fund (Class G) from as low as S$1. They can buy or sell their assets at any time via the GXS Bank App. There are no transaction fees for any investment assets bought or sold through GXS Invest. The Fund’s annual management fees still apply. 

There is also no lock-in period. Upon redemption, they would receive their monies in their GXS Savings Account within one to two working days. 

A unique feature of the Fullerton SGD Cash Fund (Class G) is the inclusion of a complimentary group personal accident insurance coverage. This is exclusive to eligible GXS Bank customers who invest in the fund through GXS Invest. With protection being a key part of any personal financial portfolio to hedge against unexpected circumstances, GXS Bank and Fullerton Fund Management have worked with Singlife to give GXS Bank customers additional peace of mind as they invest.

Eligible GXS Bank customers who invest in the Fullerton SGD Cash Fund (Class G) through GXS Invest will be automatically covered under a group personal accident insurance plan underwritten by Singlife. Eligible customers will be covered up to three times their investment amount in the Fullerton SGD Cash Fund (Class G) and capped at S$100,000.

Mr Mark Yuen, Chief Business Development Officer, Fullerton Fund Management said, “It’s a privilege to be the inaugural investment offering on GXS Invest - an innovative digital platform that’s reshaping how individuals access institutional-grade investment solutions. The Fullerton SGD Cash Fund, an award-winning fund designed to deliver both liquidity and attractive returns, aligns seamlessly with GXS’s mission to empower everyday investors.

Beyond yield enhancement, this exclusive share class includes personal accident coverage, offering an added layer of protection that’s rarely found in cash management products. It’s a simple yet powerful way to help investors put their idle cash to work - without compromising on flexibility or peace of mind.

We’re excited to collaborate with GXS Bank to make wealth-building more inclusive, accessible, and relevant to the needs of today’s digital-first generation.”

More information on GXS Invest can be found at www.gxs.com.sg/invest. 
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Disclaimer

This advertisement of publication has not been reviewed by the Monetary Authority of Singapore.

All investments come with risks, and customers may lose all or part of their investment. Investments are not deposits and should not be treated as deposits. Past performance of an investment does not necessarily reflect its future performance. Any indicative return and/or distribution rate (where applicable) is for illustrative purposes only, and is not a prediction, projection or forecast of the future performance of the investment. There is no guarantee that the indicative return and/or distribution rate (where applicable) will be achieved. The value of investments and investment returns (including dividends, distributions, income or other returns) may rise or fall.

We do not offer investment advice of any nature, and any information which we provide is not offered as investment advice or recommendations. Any such information which we provide is intended for general circulation and does not take into account the specific investment objectives, financial situation or particular needs of any particular person.
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About GXS Bank

GXS Bank is a digital bank focused on making banking better for the everyday consumer and businesses. 

The Bank aims to improve financial inclusion and to drive financial revolution for its customers through the secure and ethical use of technology and data. 

GXS Bank holds a banking licence issued by the Monetary Authority of Singapore. It is owned by a consortium consisting of Grab Holdings Inc. – Southeast Asia’s leading super app, and Singtel – Asia’s leading communications technology group.

As part of a regional network of digital banks, GXS Bank also works closely with GXBank, its digital bank subsidiary in Malaysia and Superbank, a digital bank in Indonesia.
‍

For media queries, please contact: 
‍
GXS Bank
Maybelline Tan
comms@gxs.com.sg

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