By The Ledger desk · Last verified 7 October 2026
Singapore is retiring corporate cheques. Under the timeline set by MAS and the Association of Banks in Singapore (ABS), banks stopped issuing new cheque books to companies by 31 December 2025, and from 1 January 2027 banks will not process any corporate cheques. The original end-2025 deadline was extended by a year in December 2024. Individuals are not affected in the same way: you can still issue and deposit your own SGD cheques after 2026. What does affect you is any cheque you receive from a company, such as a refund or dividend: bank it well before 1 January 2027, or ask the payer for another way to pay. Replacements include PayNow, FAST, GIRO and new Electronic Deferred Payment (EDP) tools for post-dated payments.
Cheque use has been shrinking for years, and most of us will barely notice the change. A few simple steps now will make sure no cheque in a drawer turns into lost money.
Quick facts
- Banks stopped issuing new cheque books to corporates by 31 December 2025.
- The last day for corporate cheques to be processed is 31 December 2026; from 1 January 2027 they will be rejected.
- Individuals can still issue and deposit SGD cheques after 2026.
- Customers aged 60 and above as of 31 December 2025 remain eligible for the waiver of cheque service fees at the banks offering it.
- Cashier’s orders and USD cheques remain available.
- EDP handles post-dated payments electronically; EDP+ is a digital alternative to cashier’s orders.
The timeline at a glance
| Date | What happens |
|---|---|
| December 2024 | MAS and ABS extend the deadline for processing corporate cheques from end-2025 to end-2026, and announce EDP solutions for mid-2025. |
| 31 December 2025 | Banks stop issuing new cheque books to corporates. |
| Thursday 31 December 2026 | Last day for corporate cheques to be processed. |
| Friday 1 January 2027 | Banks will not process any corporate cheques. |
| After 2026 | Individuals can continue to issue and deposit SGD cheques. |
What changes for you
| If you… | What to do |
|---|---|
| Write personal cheques | You can carry on, but check your bank’s cheque fees; if you were 60 or older on 31 December 2025, you remain eligible for the fee waiver where your bank offers it. |
| Receive a cheque from a company | Deposit it well before 1 January 2027. After that, the bank will reject it and you must ask the payer to pay another way. |
| Pay rent or instalments by post-dated cheque | Ask your bank about EDP, or set up GIRO or a standing instruction. |
| Need a guaranteed payment, such as for a property deal | Cashier’s orders remain available; EDP+ offers a digital alternative. |
| Run a business | Move suppliers and payroll to PayNow, FAST, GIRO or EDP before the end of 2026. |
A worked example: the year-end cheque
A company posts you a refund cheque in mid-December 2026. ABS advises presenting corporate cheques well before 1 January 2027, so deposit it as soon as it arrives, ideally that same week. If it reaches you on Wednesday 30 December, the time left before the Thursday 31 December cut-off is very short, so it is safer to contact the company and ask for a PayNow or FAST transfer instead.
What replaces cheques?
| Tool | Best for |
|---|---|
| PayNow | Paying people and businesses instantly with a mobile number, NRIC or FIN, or UEN |
| FAST | Instant transfers to an account number |
| GIRO | Regular bills and instalments by direct debit |
| EDP | Post-dated payments, scheduled electronically |
| EDP+ | A digital alternative to cashier’s orders, for payments needing more certainty |
| MEPS+ | Large-value interbank transfers |
The WahLiao Verdict
Treat 2026 as the year to tidy up. Bank every company cheque you hold now, ask any firm that still pays you by cheque to switch to PayNow or GIRO, and swap post-dated cheques for EDP or a standing instruction. Older relatives who rely on cheques can keep using them, so help them check their bank’s fee waiver rather than rushing them into apps they are not ready for.
Questions people ask
Can I still write cheques after 2026?
Yes. ABS confirms that individuals will still be able to issue and deposit SGD cheques after 2026.
What happens to a company cheque I deposit in January 2027?
Banks will not process any corporate cheques from 1 January 2027, so it will be rejected. You will need to ask the payer for another form of payment.
Do I have to pay cheque fees?
Banks set their own cheque fees. Customers who were 60 or older on 31 December 2025 remain eligible for the waiver of cheque service fees at the participating banks.
Are cashier’s orders ending too?
No. Cashier’s orders remain available, and EDP+ has been introduced as a digital alternative.
Sources: Association of Banks in Singapore, FAQs for corporate and retail cheque users and sunsetting corporate cheques FAQ; Monetary Authority of Singapore, EDP launch and extended cheque deadline (December 2024). The Ledger explains; it does not advise.
Read next: PayNow and FAST Transfers: Limits, Mistaken Transfers and Getting Money Back · Bank Account Fees in Singapore: Fall-Below Fees, Early Closure and Basic Accounts · Back to The Ledger
For what’s worth it this week, with the bill shown, read The WahLiao Week.
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