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$0.55 for each USD cheque issued.

This fee will be waived for account holders aged 60 years old and above till 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$0.55 for each USD cheque issued.

This fee will be waived for account holders aged 60 years old and above till 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+

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.