DBS Updates Its Customers On CTS Cheques

SINGAPORE, Sep 9 - In preparation for the implementation of the industry-wide Cheque Truncation System (CTS), DBS started mailing out new CTS chequebooks to its customersin November 2001 and had moved progressively to stop acceptance of old cheques from July 2002.

The long transition period of about eight months was necessary to give bank customers sufficient time to use up their old cheques and be familiar with the new CTS cheques. Our customers have helped us make a smooth transition to the CTS cheques.

We had put in place procedures to refund customers for their unused non-CTS cheques at S$0.20 per leaf as these cheques become obsolete with the passing of the deadline.

However, it has come to our attention that some customers may not be aware of this practice. The Bank would like to remind all DBS/POSB customers that they can get a S$0.20 refund for every unused personal non-CTS cheque. They have until the end of the year to do so.

Customers who have paid for cheque books issued after June 1, 2000 can approach any DBS/POSB branch or mail their unused cheques to the bank's Branch Support Unit at 61 Robinson Road, #10-01, Robinson Centre, Singapore 068893, for a refund.

Customers who have shredded or discarded their personal non-CTS cheques can approach any DBS/POSB branch or call our 24-hour customer service hotline 1800-111 1111 for assistance or refund.

For more information about the CTS, please visit the DBS' website at http://www.dbs.com/whatsnew/ctscheque/.