Foreign Currency Cheque Deposit
Depositing foreign currency cheques involves different processing times and fees depending on the type of cheque.
Important considerations
- We encourage customers to receive funds via telegraphic transfer as a faster and often cheaper alternative to foreign currency cheques.
- Postage, handling commission, agent/issuing bank charges, and any other applicable fees will be debited separately.
| Type of Cheque | Charges by DBS | Funds available after |
|---|---|---|
| Local USD cheques cleared via Singapore USD Cheque Clearing System | US$1 per USD cheque | 1 Working Day (deposited before 1pm) |
| Other Currencies (non-SGD) and USD (non- local clearing) | 1/8% (min. S$10, max. S$100) per cheque | Minimum of 30 working days |
More information
To ensure a smooth deposit process, please note the following:- Cheque Details: For detailed instructions on completing your cheque correctly, please refer to our Deposit a Cheque guide.
- USD Cheque Deposit Cut-off Time: The cut-off time for USD cheque deposits is 1 PM, Monday to Friday, at all branches.
- Currencies Not Accepted: We do not currently accept cheques in the following currencies: CNH (Chinese Renminbi, Offshore), DKK (Danish Krone), CHF (Swiss Franc), NOK (Norwegian Krone), NZD (New Zealand Dollar), SEK (Swedish Krona), and ZAR (South African Rand).
- MYR Cheques with Amendments: MYR cheques with amendments will be returned to your registered address on file via registered mail.
- Foreign Currency Cheque Processing: Foreign currency cheques are sent for clearing, and your account will be credited once the funds are received.
- Supporting Documentation: Supporting documentation (e.g., payment invoices, dividend advice, insurance statements) is required for MYR cheques exceeding MYR 10,000.00 and for all THB cheques.
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