- What is a corporate cheque?
A corporate cheque is issued by a business or organisation to an individual or another organisation, such as societies, trusts, charities and soles proprietors. When a corporate cheque is deposited, the funds are paid from the organisation or business named on the cheque.
- When will the banks stop processing SGD corporate cheques?
As announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), banks will stop processing SGD corporate cheques from 1 January 2027. For more information about the announcement, please visit the ABS website.
If you have received SGD cheques from a public or private organisation, please deposit the cheques as early as possible. The last day to do so is on 31 December 2026, by SGT 11am . SGD corporate cheques deposited after this deadline will not be accepted.
- When will I receive the funds for SGD corporate cheques deposited on 31 Dec 2026?
Funds from cheques deposited on 31 Dec 2026 by SGT 11am will be available after 2pm SGT on the next business day i.e. 4 Jan 2027.
- Can I continue to encash my corporate cheque after 31 Dec 2026?
DBS will cease the encashment of SGD corporate cheques at branches from 1 January 2027 as part of the industry-wide cessation of SGD corporate cheques.
- Will cheques issued by individuals continue to be processed?
Yes, DBS will continue to process individual SGD cheques, cashier’s orders and USD cheques. Only SGD corporate cheques will not be processed from 1 Jan 2027.
- Will USD Corporate cheques and cashier’s orders continue to be processed?
Yes, DBS will continue to process USD corporate cheques and cashier’s orders. Only SGD corporate cheques will not be processed from 1 Jan 2027.
- I received an SGD corporate cheque but did not deposit it before the deadline. How can I still receive the payment?
Please contact your payer to arrange for payment via alternative methods such as PayNow, FAST, GIRO, or MEPS+. Please ensure that your payer has your correct banking details. For PayNow, please ensure that your PayNow registration is active and linked to your bank account.
- I do not have digital banking access. How can I continue to receive SGD payments from corporates after SGD corporate cheques are discontinued?
You do not need to sign up for digital banking to receive payments via PayNow, Fast And Secure Transfers (FAST), Inter-bank GIRO System and MEPS+.
If you would like to sign up for digital banking, you may also use Electronic Deferred Payment (EDP and EDP+). EDP and EDP+ were introduced in July 2025 to make and receive deferred payments in place of cheques. For more information on EDP/EDP+, please visit this website.
- What if my SGD corporate cheque deposited by 31 Dec 2026 is subsequently rejected/returned after 1 Jan 2027?
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+.
- What if my payer does not make payment using an alternative payment method after 1 Jan 2027 for my unprocessed SGD corporate cheque?
Payees holding onto SGD corporate cheques which have not been deposited for payment after the applicable cut-off time on 31 Dec 2026 are encouraged to approach their payers to arrange for an alternative mode of payment. Your legal right to receive payment under the Bills of Exchange Act remains unchanged.
