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Ministry of Finance (MOF)
Press Releases

NSS Cheque Encashments

1 March 2001

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In response to media queries on queues forming at banks for encashment of NSS cheques, the Ministry of Finance states that Singaporeans receiving their NSS payment by cheque should deposit them into their bank accounts as far as possible.

Those without bank accounts may now cash their NSS cheques at any branch of Citibank, UOB/OUB, DBS/POSBank, and OCBC/Keppel TatLee. The banks will charge $5 for the service, as they will be giving cash to individuals who do not have accounts with them. The banks will waive the charge for senior citizens who are 62 years old and above.

For those with bank accounts, direct bank credit is the fastest way to receive their NSS payment. The money will be credited within two weeks of application. Payment by cheque can take up to three weeks.

MINISTRY OF FINANCE

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