Corporate cheques are issued by a corporate entity or business (including societies, trusts, charities and sole proprietors) to a person or organisation where monies payable to the payee will be deducted from the bank account of the corporate entity or business. They are used for business transactions such as paying suppliers and vendors, or for services rendered. Banks will cease processing SGD corporate cheques from 1 January 2027, regardless of when they were issued.

• As of 1 January 2026: All banks have stopped the issuance of new SGD corporate cheque books, bulk cheque services and cheque self-printing services.
• From 1 January 2027: All banks will stop processing SGD corporate cheques[1], regardless of when they were issued.

For SGD corporate cheque payees (i.e. corporates and individuals who receive SGD corporate cheques)

• Please deposit all SGD corporate cheques*, as early as possible and no later than 31 December 2026 (subject to the applicable cut-off time of the bank that you are depositing the cheque with).

^* Currently, banks will process cheques that are valid (i.e. date of deposit is within 6 months from date of issuance on the cheque.) From 1 January 2027, banks will no longer process SGD corporate cheque even if they are valid.

All banks will stop the encashment of SGD corporate cheques at branches from 1 January 2027 as part of the cessation of SGD corporate cheques.

Funds from cheques deposited on 31 December 2026, subject to the applicable cut-of time of the bank that you are depositing the cheque with, will be available after 2:00pm on the next business day i.e. 4 January 2027.

In the event you are unable to deposit your cheque(s) by 31 December 2026 within the applicable cut-off time, please approach your payer to arrange for an alternative e-payment method – such as PayNow, Fast And Secure Transfers (FAST), Electronic Deferred Payment (EDP and EDP+), Inter-bank GIRO System and MEPS+.

Please approach your payer to arrange for an alternative e-payment method – such as PayNow, Fast And Secure Transfers (FAST), Electronic Deferred Payment (EDP and EDP+), Inter-bank GIRO System and MEPS+.

In the event you are holding onto unprocessed SGD corporate cheques that remain valid after 1 January 2027, please approach your payer to arrange for an alternative payment method. Your legal right to receive payment under the BEA remains unchanged.

Currently, we charge a fee of S$10 per cheque book for SGD cheque book. This fee is waived for all Premier and Private Bank EasiSave accounts.

From 1 November 2023, we will charge $0.75 for each SGD cheque issued, and US$1 for each USD cheque.

Until further notice, this fee will be waived for account holders who are 60 years old and above as of 31 December 2025.

At a later date, you will be charged a fee for depositing SGD-denominated and USD-denominated cheques.

Details of the deposit charges will be shared in due course.

The implementation of the charges for SGD-denominated cheques is one of the initiatives that the financial industry will commence to eliminate corporate cheques by 2025, and assist and encourage remaining users of cheques to alternative payment methods. The initiatives had received broad support and come after a public consultation by MAS in November 2022.

From 1 November 2023, we will charge $0.75 for each SGD cheque issued, and US$1 for each USD cheque.

Until further notice, this fee will be waived for account holders who are 60 years old and above as of 31 December 2025.

At a later date, you will be charged a fee for depositing SGD-denominated and USD-denominated cheques.

Details of the deposit charges will be shared in due course.

You can turn to other alternative payments methods as below:

• GIRO
• FAST
• PayNow
• MEPS+
• Electronic Deferred Payment (EDP and EDP+)

You will still be able to use cheques for a period beyond 2025. This will provide you with a longer runway to switch to alternative payment methods.

That said, banks in Singapore will collectively cease the issuance of new cheque books to all corporates in 2025.

From 1 June 2025, you can still perform cheque related services online via OCBC app

• Request cheque book
• Check cheque status
• Stop cheque payment

You can request a new cheque book through OCBC app. The cheque book will be sent to the mailing address linked to your account within 5 working days.

OCBC app:

1. Log in to the OCBC app with your Access Code and PIN/biometrics
2. Tap on the “More” icon in the bottom navigation bar
3. Click on “Deposit account settings”
4. Select “Access cheque services” > “Request SGD cheque book”
5. Select your account and indicate number of cheque books

Cheque stop payment requests can be made through OCBC app

OCBC app:

1. Log in to the OCBC app with your Access Code and PIN/biometrics
2. Tap on the “More” icon in the bottom navigation bar
3. Click on “Deposit account settings”
4. Select “Access cheque services” > “Stop cheque payment”
5. Select your account and input valid cheque number

You can check the status of a cheque through OCBC app.

OCBC app:

1. Log in to the OCBC app with your Access Code and PIN/biometrics
2. Tap on the “More” icon in the bottom navigation bar
3. Click on “Deposit account settings”
4. Select “Access cheque services” > “Check cheque status”
5. Select your account and input valid cheque number