Phillip Bank, the only Singaporean-owned commercial bank in Cambodia, on September 9, 2025, introduced Savings Vault, a next-generation savings account designed to safeguard customers’ money from hackers, scammers, and digital fraudsters—while still earning competitive daily interest.

With online fraud and mobile app scams on the rise, Savings Vault eliminates the risk of unauthorised digital access by requiring in-person branch verification before funds can be withdrawn or transferred. This means customers’ savings remain locked and safe, even if their mobile banking app or personal device is compromised.

At the same time, customers continue to enjoy attractive benefits, such as daily interest accrual with monthly capitalisation at Phillip Bank’s standard savings rate, no fixed term with flexible access when needed, the choice of USD or KHR currency, and the convenience of opening the account through Phillip Mobile app with a minimum initial deposit. 

Chan Mach, Chief Executive Officer of Phillip Bank, said cybercriminals are constantly finding new ways to attack, but it is in the interest of Phillip Bank to protect our customers against cybersecurity threats, ensuring that every customer never has to compromise their security for convenience. 

“With Savings Vault, we’ve created a safe zone for savings—combining modern banking technology with the certainty of face-to-face verification. It’s about giving customers confidence that their hard-earned money is beyond the reach of fraudsters.”

Savings Vault is now available on Phillip Bank’s mobile banking app, Phillip Mobile, reinforcing the Bank’s mission to be a trusted financial partner by delivering innovative, secure, and customer-focused solutions for the people of Cambodia.

Phillip Bank is a member of Phillip Capital Group, headquartered in Singapore since 1975. The Group offers a full range of quality and innovative financial services to retail, corporate, and institutional customers across 15 countries. In Cambodia, Phillip Bank is one of the country’s medium-sized commercial banks, operating more than 70 branches nationwide.

By B2B Cambodia on Sep, 09 2025