MAS Announces end-2025 Timeline to Eliminate Corporate Cheques

MAS announced that all corporate cheques will be eliminated by end-2025 while individuals will still be able to use cheques for a period after 2025. To recover these cheque processing costs, banks will therefore commence charging for Singapore Dollar (SGD)-denominated cheques by 1 November 2023.

MAS Announces end-2025 Timeline to Eliminate Corporate Cheques