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Stockbrokers going Cashless and Cheque-free by End of Q3 2022

Corporate Actions Payments

Since Covid-19 lockdown in April 2020, we have stopped issuing cheque payments for both SGD and foreign currency dividends and cash distribution. Clients with EPS / Giro facility setup would have received their SGD dividend payments electronically. For clients without a EPS / Giro facility, all dividend payments would be credited to clients' trust accounts. When clients wish to withdraw the funds back to their bank accounts, they can submit the request via the "Trust Account Withdrawal" under "Account Mgmt" menu on our Online Trading web channel (login required). Alternatively, they can also inform their Trading Representatives to assist them for the trust withdrawals.

Cheque-free by end of Q3 2022

In line with Securities Association of Singapore press release on 20 August 2021, all member firms will cease the issuance and acceptance of physical cheques from Q3 2022.

For clients who have yet to set up EPS / GIRO facility for their trading accounts, we would urge that you discuss with your Trading Representative and to set these up at your earliest convenience.