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Important notice: SGD corporate cheques will no longer be processed from 1 January 2027

 

In line with the transition to e-payments for cheque users, banks including Standard Chartered will stop processing SGD corporate cheques from 1 January 2027. However, the bank will continue to process cheques issued by individuals, cashier’s orders and USD cheques.

 

What you need to do

  1. Deposit all SGD corporate cheques as early as possible, and no later than 11 a.m. on 31 December 2026.
  2. If a cheque is not deposited by 11 a.m. on 31 December 2026, or is received on or after 1 January 2027, contact the payer to arrange for an alternative payment method.

 

Alternative payment methods

 

Individuals and companies can make payments using PayNow, Fast And Secure Transfers (FAST), Inter-bank GIRO, MEPS+ or Electronic Deferred Payment (EDP and EDP+).

EDP and EDP+ are e-payment solutions that can be used to make deferred payments in place of cheques. For more information on how to access EDP, visit here.  

 

Frequently asked questions

QuestionAnswer
About corporate cheque cessation
1What are the key dates for the discontinuation of SGD corporate cheques?
  • From 1 January 2027, all banks will stop processing SGD corporate cheques, regardless of when they were issued.
2How does this impact SGD corporate cheque users and what should I do?

For payees who receive SGD corporate cheques:

  • Deposit all SGD corporate cheques as early as possible and no later than 11.00am on 31 December 2026.
  • Ask payers to transition to e-payment methods such as PayNow, FAST, EDP, EDP+, GIRO and MEPS+ as early as possible.   

From 1 January 2027, all banks will stop processing SGD corporate cheques, regardless of when they were issued.

 

For payers that issue SGD corporate cheques:

  • Use e-payment methods such as PayNow, FAST, EDP, EDP+, GIRO and MEPS+.
3What alternative e-payment methods are available?Corporates and individuals can use GIRO, FAST, PayNow, MEPS+ and Electronic Deferred Payment solutions, including EDP and EDP+.
4I do not have digital banking access. How can I make or receive payments after corporate cheque processing ceases?Corporates can still receive cheques issued by individuals and issue cashier’s orders, subject to the services offered by individual banks. Corporates may also use PayNow, FAST, EDP, EDP+, GIRO and MEPS+ to make and receive payments.
Additional FAQs for SGD corporate cheque payees
5What is the applicable cut-off time for cheques deposited on 31 December 2026?The applicable cheque deposit cut-off time is 11.00am on 31 December 2026.
6When will I receive funds for SGD corporate cheques deposited on 31 December 2026?Funds from SGD corporate cheques deposited by 11.00am on 31 December 2026 will be available after 2.00pm on the next business day, 4 January 2027.
7What if I do not deposit my SGD corporate cheque by 31 December 2026 or receive one on or after 1 January 2027?If you are unable to deposit the cheque by 11.00am on 31 December 2026, contact the payer to arrange an alternative payment method such as PayNow, FAST, EDP, EDP+, GIRO or MEPS+.
8What if the payer does not make payment through an alternative method after 1 January 2027?If you hold an unprocessed SGD corporate cheque that remains valid after 1 January 2027, contact the payer to arrange an alternative payment method. Your legal right to receive payment under the Bills of Exchange Act remains unchanged.
Additional FAQs for SGD corporate cheque payers
9My payee did not deposit an SGD corporate cheque issued by my business by 31 December 2026. What should I do?Contact the payee and arrange an alternative payment method such as PayNow, FAST, EDP, EDP+, GIRO or MEPS+.
10My business has run out of SGD corporate cheques before 31 December 2026. Can I request a new cheque book?No. Since 1 January 2026, all banks have stopped issuing new SGD corporate cheque books. Use an electronic payment method such as GIRO, FAST, PayNow, MEPS+, EDP or EDP+ to fulfil your payment obligations.
Additional FAQs for individuals
11What are retail cheques? Will individuals still be able to use cheques after 2026?Retail cheques are cheques issued by individuals. Retail cheques, cashier’s orders and USD cheques will remain available after SGD corporate cheques are phased out. This includes retail cheques issued for payment to corporate accounts.

  For more information, please refer to the ABS website regarding e-payments.