Online Cheque - Frequently Asked Questions

A. About the Service

  1. What is iB Cheque (PayEasy)?

    iB Cheque (PayEasy) is a service which enables you to pay any individual or organisation, locally or abroad. It is made up of two services; iB Cheque (for local currency payments) and Demand Draft (for foreign currency payments). Please see below for the features of each one.

  2. What services does iB Cheque (PayEasy) provide?

    iB Cheque (PayEasy) consist of two separate services:

    1. iB Cheque - allows DBS iBanking users to purchase a local currency Bank Cheque online and mail it to any individual or organisation in Singapore.
    2. Demand Draft - allows DBS iBanking users to purchase a foreign currency Demand Draft online, and mail it to any individual or organisation locally or abroad. The Demand Draft is available only in 6 foreign currencies; US Dollar, Yen, Australian Dollar, Euro, Hong Kong Dollar and Sterling Pounds.

B. To mail an iB Cheque

  1. How does the iB Cheque service work?

    For a step-by-step guide to using this service, please see our help pages here.

  2. What are the advantages of the iB Cheque service?

    Using the "iB Cheque" facility has the following advantages:

    1. You can send out a cheque even though you do not have a Current account.
    2. Convenience of sending out your cheques anytime, from anywhere.
    3. Another way to make payments with your Cashline account.
    4. You do not need the bank account details of the party you wish to pay.
    5. Greater convenience as the bank will mail out the iB Cheque on your behalf.

  3. Who can use this facility?

    All DBS iBanking customers with their own Savings, Current or Cashline account.

  4. Do I have to pay for using this facility?

    This service will be free (with effective 04 May 2010).

  5. Who can I pay using the iB Cheque service?

    You can pay any person with a valid Singapore postal address and a valid bank account with a Singapore bank. The iB Cheque can only be deposited directly to the payee's account with a bank in Singapore, and it cannot be cashed out at the branch.

  6. Can I pay my bills using the iB Cheque service?

    Yes, the iB Cheques can be addressed to local organizations for payment of your bills. (For example, credit cards, telephone, utilities bills etc.).

  7. How will the individual or organisation receiving the iB cheque know what it is for?

    You can state the purpose of payment in the 'Comments' field when you apply for the iB Cheque . The comments entered will appear in the payment advice attached to the iB Cheque. The payment advice will also contain your name and the type of account you have used to fund your iB Cheque. Your account number will not be revealed.

  8. How long is the iB Cheque valid for?

    Each iB Cheque shall be valid for a period of two (2) months from the date printed on the iB Cheque.

  9. What happens after the iB Cheque expires?

    The cheque amount, less the non-refundable commission charge, will be refunded to the debiting account or other account with DBS Bank, and a notice of refund will be sent to you by ordinary post.

  10. Which of my accounts can I use for issuing an iB Cheque?

    You can use of any of your current, savings or Cashline accounts to purchase an iB Cheque. However, they cannot be joint-all or trust accounts.

  11. Is there a maximum limit on the payment amount?

    The maximum iB Cheque (PayEasy) daily transfer limit is set to your 3rd Party daily funds transfer limit on DBS iBanking, or up to S$25,000 whichever is lower.

    The two iB Cheque (PayEasy) services (iB Cheque and online Demand Draft) will share the same limit.

  12. When will the payment amount be debited from my account?

    The amount will be debited immediately from your account upon submission, together with the commission charge.

  13. How will the iB Cheque be delivered to the payee?

    DBS will print the iB Cheque and send via Singapore Post.

  14. How long will it take for the iB Cheque to be delivered to the payee?

    It will take up to 4 working days from submission of the iB Cheque to reach the payee by ordinary post.

  15. Can I set a future date for the creation of a iB Cheque?

    This service is not available at the moment.

  16. How secure is this facility?

    The iB Cheque service adopts the same security features we have for other iBanking facilities involving funds transfer. You will need to set up and authorise every new Payee via the OTP (One Time Password) before you can send them an iB Cheque.

  17. How can I track the status of my iB Cheque?

    The status of an iB Cheque may be ascertained only after a stop payment request is received by DBS Bank. A stop payment request will not be processed if the iB Cheque is found to have been cleared and paid.

  18. Will I be able to put a Stop Payment on my iB Cheque?

    In the event that the iB Cheque purchased is lost, stolen or destroyed, you may request for payment on the iB Cheque to be stopped and the money will be credited back to your debiting account within 5 working days. You need to complete the Stop Payment Indemnity Form and provide a notarized consent of the Payee in writing. The commission charge is non-refundable. A Stop Cheque fee of S$15 will be imposed and deducted from the account stipulated in the form. Once the Stop Payment process is successful, you will be informed via mail.

  19. If I have the physical copy of the iB Cheque, can I cancel it?

    Yes, you can cancel the iB Cheque by bringing the physical copy of the iB Cheque to any DBS/POSB Branch and approaching the counter staff for assistance. We will credit the funds to your designated account. The cancellation fee is currently waived but we reserve the right to review and revise the cancellation charge from time to time by giving you at least 30 days' prior notice.

  20. What should I do if the payee does not receive the iB Cheque?

    You have three options.

    1. Wait for the iB Cheque to expire as it is only valid for two months. After that, the net amount will be refunded to the designated debiting account.
    2. Go down to any of our DBS/POSB Branches and place a Stop Payment request as per the process described in point 18.
    3. You can cancel the cheque if you manage to obtain the physical copy as per the process described in point 19.
    In all cases, please note that the commission charge will not be refunded.

  21. Can I amend an iB Cheque once I've submitted the application?

    You are unable to amend the iB Cheque after submission is done.

  22. How will I know that my iB Cheque transaction has been received by DBS?

    Upon confirmation of your iB Cheque and Payee details, you will see a 'Transaction Completed' page where we will display your transaction reference code. Please print out this page for your reference. No further confirmation advice will be mailed to you.

  23. Who should I contact if I need assistance?

    Please contact our call centre at 1800-1111111 or fill up our customer feedback form. If you are overseas, please call 65-6327 2265.

C. To mail a Demand Draft online

  1. How does the Online Demand Draft service work?

    For a step-by-step guide to using this service, please see our help pages here.

  2. What are the advantages of the Online Demand Draft service?

    Using the "Demand Draft" service has the following advantages:

    1. The fees (excluding postage) for this Demand Draft service is lower than the fee charged at the branch.
    2. Convenience of sending out your demand drafts anytime, from anywhere.
    3. You do not need the bank account details of the party you wish to pay.
    4. Greater convenience as the bank will mail out the Demand Draft on your behalf via registered mail.

  3. Who can use this facility?

    All DBS iBanking customers with their own Savings or Current account.

  4. Do I have to pay for using this facility?

    Yes, you will have to pay a commission fee of 1/8% of S$ equivalent of remittance amount, subject to minimum S$5.00 and maximum S$100.00, for every Demand Draft that is sent out plus any additional postage charges. Postage charges will be S$2.50 for delivery to a local address, and S$4 for overseas delivery depending on which country the demand draft is being sent to. All delivery will be by registered post. This commission charge and postage charges will be debited from your account only at the point of processing. The commission charge and postage charges are non-refundable.

  5. For how long are the Demand Drafts valid?

    A Demand Draft shall be valid for a period of six (6) months from the date printed on the Demand Draft.

  6. How can I cancel a valid or expired draft? Are there any charges?

    You have to submit your application for cancellation together with the original draft at any of our DBS branches. We will credit the funds, less the commission charge, to your designated account. There is no cancellation fee imposed.

  7. How can I place a 'Stop Payment' on a demand draft? What are the charges?

    In the event that the Demand Draft purchased is lost, stolen or destroyed, you may request for payment on the Demand Draft to be stopped, and for a replacement Demand Draft to be issued or a refund of the amount of the Demand Draft purchased. You need to complete the Cashier's Order/Demand Draft – Indemnity for Stop Payment form and provide a notarized consent of the Beneficiary in writing at any of our DBS/POSB branches. Upon the confirmation from the drawee Bank that the Demand Draft has not been paid, we will return the funds to your designated account. There will be a handling charge of S$15 plus cable charge of S$20 and agent bank charges (where applicable).

  8. How can I amend a draft? What are the charges?

    You have to submit your application for amendment together with the original draft at any of our DBS/POSB branches. We will cancel the original draft and re-issue a new draft with the amended beneficiary's name. We charge a commission of S$10.

  9. What information about the applicant will be sent with the Demand Draft?

    The only information the beneficiary will see is the Name of the applicant of the Demand Draft.

  10. Which of my accounts can I use for issuing a Demand Draft?

    You can use of any of your S$ current or savings accounts. These cannot be joint-all or trust accounts.

  11. Is there a maximum limit on the payment amount?

    The maximum iB Cheque (PayEasy) daily transfer limit is set to your 3rd Party daily funds transfer limit on DBS iBanking, or up to S$25,000 whichever is lower.

    The two iB Cheque (PayEasy) services (iB Cheque and online Demand Draft) will share the same limit.

  12. When will the amount be debited from my account?

    The amount will be debited ONLY when your demand draft is being processed. It will take between 1-2 days to processupon submission. The commission charge and postal charges will be debited at the same time. This transaction will not appear immediately in your iBanking online statement upon submission. It will only appear after the demand draft is created.

  13. How will the Demand Draft be delivered to the payee?

    DBS will print the Demand Draft and send it via registered mail. A payment advice will be mailed back to you to acknowledge the transaction.

  14. How long will it take for the Demand Draft to be delivered to the payee?

    It will take up to 2 working days from submission, for DBS to send out the Demand Draft. The length of time it will take for the Demand Draft to reach the payee via registered post depends on the individual countries they are being sent to.

  15. How can I track the status of my Demand Draft?

    You can contact our customer service hotline at 1800-1111111. If you are overseas, please call 65-6327 2265.

  16. What should I do if the payee does not receive the Demand Draft?

    Please go down to any of our DBS/POSB Branches and fill out a Stop Demand Draft Indemnity form. The Stop Demand Draft charges will apply. Please refer to point 7 for the Stop Payment process and the applicable fees & charges.

  17. Who should I contact if I need assistance?

    Please contact our call centre at 1800-1111111 or fill up our customer feedback form here. If you are overseas, please call 65-6327 2265.