The Association of Banks in Singapore

21/03/2026

Wishing everyone a joyous Hari Raya Aidilfitri 🌙✨
May the spirit of the season bring peace, happiness, and prosperity.

16/02/2026

Wishing you a joyous Lunar New Year! 🧧🍊
May the year ahead be blessed with health, harmony, and continued prosperity for you and your loved ones. 🐎✨

30/12/2025

A Milestone Year for Digital Transformation ⏪

As we close out 2025, let's celebrate the remarkable progress in Singapore's payment ecosystem:

📍Key Achievement: July 2025 - Successful launch of EDP & EDP+ across 7 major banks

✨The Impact:
✓ Speed replaced waiting
✓ Efficiency eliminated delays
✓ Digital superseded paperwork

⏰ Coming up:
Jan 2026: No more issuing of SGD corporate cheque books
Jan 2027: No more processing of SGD corporate cheques

Are you ready for a Smarter, Better, Faster 2026?

30/12/2025

Explore how Lian Beng Group took control of its financial operations in this latest feature on The Straits Times.

By moving from manually processing 1,500 cheques a month to more efficient e-payment solutions, the company has minimised risk and boosted efficiency across the board.

Read their full e-payments transition story here: https://www.straitstimes.com/business/corporate-cheques-cease-construction-group-epayment-association-of-banks-singapore

Lian Beng Group’s switch to e-payments transformed how it manages cash flow across more than 20 subsidiaries and thousands of suppliers and subcontractors – a timely shift as Singapore prepares to phase out SGD-denominated corporate cheques Read more at straitstimes.com. Read more at straitstime...

15/12/2025

Still chasing cheques? 😫 Lost mail, payment errors, and endless follow-ups were a reality for HRnetGroup.

They switched to e-payments solutions, transforming their workflow.

The result?
✅ Less admin time
✅ Reliable, real-time cash flow tracking
✅ Stronger financial security

This is more than an efficiency upgrade; it’s a move to a smarter, better, and faster way of operating!

15/12/2025

Our new feature on explores how transformed its financial workflow.

By moving from cheque-based processes to e-payment solutions like GIRO and PayNow, the company streamlined operations, eliminating administrative errors and lost mail. The result is a stronger bottom line, driven by time savings and enhanced financial controls.

Learn how they did this: https:/www.channelnewsasia.com/advertorial/cheques-clicks-how-hrnetgroup-made-shift-e-payments-5490976

Digital transactions have streamlined operations, improved cash flow visibility and helped the recruitment and staffing firm respond more quickly to business needs.

15/12/2025

Here's your quick guide to what's still available:

✔️Retail Cheques
✔️USD Cheques
✔️Cashier's Orders

Learn more about e-payment options: www.abs.org.sg/e-payments

08/12/2025

Looking for a digital alternative to cheques?

Meet EDP and EDP+, the new e-payment methods specifically designed for deferred payments.

Here’s the simple breakdown:

➡️EDP: Funds are deducted when the payee presents it for payment.
➡️EDP+: Funds are deducted immediately, giving your payee extra assurance.

Available at 7 banks in Singapore, start planning your transition now!

08/12/2025

Less than 2 months to go⏰

📅 1 Jan 2026: Banks stop issuing new SGD corporate cheque books
📅 1 Jan 2027: ALL SGD corporate cheque processing ends

Go digital with PayNow, FAST, GIRO, MEPS+, EDP and EDP+ for seamless business transactions.

Learn more about e-payment options: www.abs.org.sg/e-payments

08/12/2025

We've done a deep dive into Great Eastern Singapore's payment journey on Lianhe Zaobao.

By switching to e-payment solutions like PayNow, they've replaced their former system with one that delivers funds to policyholders on the same day.
No more transit, no more clearing delays. Just smarter, better, faster payments by going digital.

Read our in-depth feature here (article in Chinese): https://www.zaobao.com.sg/finance/singapore/story20251205-7850101

从2026年起，新加坡所有银行将停止发出新元企业支票簿，并在2027年全面停用。对长期依赖财务纸本流程的企业而言，流程的更改是不可避免的，但这也是一个能让他们提升营运效率、强化财务透明与优化客户体验的重要契机。

08/12/2025

Billions in payouts. Every single one delayed by up to 2 weeks. 😓

Policyholders waited while cheques sat in preparation queues, then transit, then clearing.

But not for Great Eastern customers anymore.

Since 2019, Great Eastern deployed e-payment methods across their payment operations.

The outcome?
✅Same-day settlements
✅Real-time tracking
✅No more waiting

Making payments smarter, better, and faster for all stakeholders.

24/11/2025

SGD Corporate Cheques are being phased out! Swipe to see what's still available after the changes

• Retail Cheques: Maintained for individual users with
corporate account compatibility

• USD Cheques: Preserved for international transaction
requirements

• Cashier's Orders: Continued availability for highsecurity payment needs
Find out more here at: www.abs.org.sg/e-payments