Singapore to drop corporate cheques, citing high processing fees and decline in use
In a move to boost e-payments, MAS plans to eliminate corporate cheques by end of 2025 and to develop an electronic deferred payment system.
Singapore-dollar denominated corporate cheques are going to be eliminated by December 2025, according a recent announcement by the Monetary Authority of Singapore (MAS). To disincentivise their use before being rendered fully redundant, cheques for both corporates as well as individuals will become subject to higher clearing fees, starting from November this year.
Sign in to read on!
Registered users get 2 free articles in 30 days.
Subscribers have full unlimited access to CorporateTreasurer.
Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.
If you are a treasurer, CFO or senior professional at a corporate or SME, please register for free VIP access here.
Questions?
See here for more information on licences and prices, or contact [email protected].
© Haymarket Media Limited. All rights reserved.
Top news, insights and analysis every Tuesday & Thursday
Free registration gives you access to our email newsletters
for unlimited access to all articles, newsletters
