ELECTRONIC DEFERRED PAYMENT (EDP AND EDP+)

Both individuals and companies can use EDP and EDP+. This service will be rolled out progressively from 28 July 2025 and can be accessed via the digital banking platforms of seven banks: Citibank, DBS, HSBC, Maybank, OCBC, Standard Chartered Bank and UOB.

Please check that the bank account number you have entered is correct. You may also wish to check with your payee whether he/she can receive EDP/EDP+ via his/her bank account number.

Alternatively, you can issue the EDP/EDP+ using your payee’s PayNow-linked mobile number, NRIC number or UEN.

You can send up to SGD200,000 a day.

Do note that the default transfer limit for EDP/EDP+ is SGD5,000 but you can increase this limit via the OCBC app. The increased limit will be made available 12 hours after we receive your request.

Yes. Individuals can continue issuing or depositing SGD cheques. This includes retail cheques for the purposes of making payment to corporate accounts. 

Banks will not process any corporate cheques issued to individuals from 1 January 2027. Corporate cheque payees must deposit all corporate cheques by 31 December 2026 to avoid having such cheques rejected.