Returned Cheque Fees
The charge for every returned cheque is S$40. If the issuer's account goes into an overdraft, an additional minimum overdraft interest fee of S$20 will be charged.
- There is no charge to the cheque recipient.
A S$20 (minimum) incidental overdraft (OD) interest will be charged for SGD and Local USD cheques returned due to the following reasons:
- Insufficient Funds
- Effects Not Cleared
- Exceeds Arrangement
- Awaiting Banker’s Confirmation
- A handling Commission of 1/8% (min. S$10, max. S$100) per cheque plus postage of S$6.50 and agent charges (where applicable) will be charged for unsuccessful clearing of other currencies (non-SGD) and non-local USD cheques.
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