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Cheque Clearing Faqs

Cheque Clearing - FAQs

5 Day Clearing Week

The Singapore banking industry has moved to 5-day clearing week with effect from 15th May 2006. Hence, clearing of funds is possible only from Monday to Friday. This means that customers’ accounts cannot be credited or debited with cheques, GIRO or Interbank Funds Transfers on Saturdays, Sundays or Public Holidays.

Clearing Timing

Cheques payable in Singapore can be deposited in the Quick Cheque Deposit Boxes provided in our branches.

For SGD Cheques:

Cheques deposited before the collection time will be available for withdrawal after 2:00pm on the next clearing day.

For USD Cheques:

For Cecil Street Branch: Cheques deposited before the collection time will be available for withdrawal on the next day. For all other SBI Branches: Cheques deposited before the collection time will be available for withdrawal after 2:00pm on the second clearing day (Monday-Friday) after date of deposit.

 

Collection Time:

 

Monday-Friday:1.00pm (for USD cheque collection at Cecil Street Branch)
3.30pm (for SGD cheque collection at Cecil Street Branch)
2:45pm (for SGD & USD cheques at all other SBI Branches)

Saturday & Sunday: No collection

FAQs on Cheque Truncation System (CTS) & Image Return Document (IRD)

Cheque Clearing Faqs Details

Cheque Clearing Faqs