Important information about cessation of processing of SGD corporate cheques
As part of Singapore's move towards more secure and efficient digital payments, Singapore dollar-denominated (SGD) corporate cheques will no longer be processed from 1 January 2027, in line with the initiative by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS).
We encourage customers who receive cheque payments to deposit any outstanding cheques well before 31 December 2026, to ensure that the cheques can be processed before the deadline.
In support of this nationwide transition, we have progressively ceased issuing cheque payments for policy payouts, and will stop accepting SGD corporate cheques from 30 November 2026.
Going forward, our default payment methods will be PayNow linked to your NRIC/ FIN/ UEN. This facilitates faster payments, directly to your bank account, in a more convenient and secure manner.
If you have not registered for PayNow, you can do so through your bank's online banking platform or mobile banking app by linking your NRIC/FIN/UEN to your bank account.
For claims payments that cannot be processed through PayNow, we will make payment via bank transfer or contact you to arrange an alternative payment method.
Check out the Frequently Asked Questions below for more information.
