Can i deposit dbs cheque to posb

The banks' standard Terms and Conditions provide for them to levy the necessary interest charges if your account goes into an overdraft position due to insufficient funds. To avoid such charges, you should monitor your account regularly and issue cheques only when there are sufficient funds in your accounts.

Can I encash a cheque at a branch of the bank other than the one which issued the cheque? Many retail banks in Singapore allow customers to encash cheques at branches other than the home branch of the account holder. For control reasons, limits could be placed on the amount withdrawn. However, there are a few banks that do not allow encashment other than at the home branch as they do not have an on-line system to verify customers' signatures.

What precautions should I take to ensure that a cheque I receive will be honoured? Personal cheques can bounce for various reasons, so accepting personal cheques means accepting the risks attached. Any business, as a matter of prudence, should conduct its own credit assessment of the parties it deals with before entering into a business transaction and agreeing on the mode of payment.

Banker's cheques or cashier's orders provide assurance that payment will be honoured. As a general rule, if the word "bearer" is deleted and the cheque is not crossed, banks would allow only the named payee to obtain cash for the cheque.

Under CTS, when a cheque that you have deposited into your account is returned unpaid, you will receive an IRD instead of the cheque. The IRD serves as a notice of dishonour and replaces the original cheque for the purpose of re-presentment for clearing under CTS.

It is a legally recognised replacement of the original cheque for re-presentment. Here is a specimen IRD showing the features to look out for. As CTS uses electronic images, the physical cheque is removed from the clearance process once you present it at your bank. Other than returned cheque charges, there are no additional charges for the issuance of IRDs. You should look at the bottom half of the IRD to determine the reason why the cheque is unpaid as well as whether you can present the IRD to the bank.

You should detach the IRD from the Return Cheque Advice and deposit it at any branch of the same bank at which you first deposited the cheque. Is it permitted to make alterations on the IRD, e. Alterations are not allowed on IRDs as any changes will not correspond to the scanned image of the original cheque held by the Presenting Bank. You should ask the drawer to give you a fresh cheque.

As an IRD is a substitute of the dishonoured cheque, you should treat a misplaced or lost IRD as if it were a lost cheque. You should ask the drawer for a new cheque. The drawer should also put a stop payment instruction on the lost IRD.

A new IRD will be generated for each return of the same cheque. Clearing of funds will take place Mondays to Fridays only. This change took effect on 15 May Log in Register. New posts. JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.

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How long does POSB takes to clear cheque deposited into the cheque box? Thread starter xeonboy Start date Jul 7, Joined Apr 8, Messages 13, Reaction score 4, The cheque is from another bank. The website says about 1 day but it's the 3rd day today. Joined Dec 4, Messages 35, Reaction score 2, Click to expand Joined Feb 23, Messages 45, Reaction score 2, Bring to counter and deposit fastest. What time on monday you deposited?

If after cut off time will receive after 2pm today. Guy84 Arch-Supremacy Member. Joined Jul 9, Messages 10, Reaction score Before 12 noon on Monday. Joined Mar 29, Messages 9, Reaction score 2, Baroness Senior Member. Joined Jul 19, Messages 1, Reaction score Joined May 15, Messages 62, Reaction score 3, All cheque sizes standardized Joined Mar 21, Messages 7, Reaction score 1,