GXS Bank rolls out money lock feature

Customers can lock away the funds in their savings pockets.

GXS Bank has launched a money lock feature, enabling its customers to lock some or all of its savings through its app.

With money lock, customers can lock away the funds in their saving pockets, locking up to 8 saving pockets. Customers need only to go into their pocket’s settings to enable the feature.

Data from the Singapore Police Force showed that over S$53m were lost to scams in Singapore in June 2025 alone. This included more than 600 cases and S$1m lost to e-commerce scams.

To unlock their savings pocket, customers will need to schedule a video verification call with a GXS Buddy, the Bank’s customer support officers.

These GXS Buddies are trained to identify signs of potential scams and how to advise customers from potentially falling prey to scams, the digital bank said in a press release.

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.