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https://www.straitstimes.com/business/corporate-cheques-singdollar-cease-2027-payment-alternatives-businesses The time is coming soon... I wonder what you all are using for larger payments, eg for condos etc How about downpayments for cars etc? What you need to know about the new electronic deferred payment solutions – EDP and EDP+ Launched on July 28, 2025, electronic deferred payment solutions EDP and EDP+ are offered by seven major banks in Singapore: Citibank Singapore, DBS, HSBC, Maybank, OCBC, Standard Chartered Bank and UOB. The solutions are available to both individuals and businesses. They can be accessed through any of the seven banks’ digital banking platforms – either the mobile banking app or the internet banking site – and no sign-up is required. Some benefits of EDP and EDP+ include: Ease of use: Payer can transfer funds using the mobile number, National Registration Identity Card (NRIC), Foreign Identification Number (FIN), Unique Entity Number (UEN), or bank account number of the payee. Full traceability: Both payer and payee receive real-time updates on status changes, including when an EDP/EDP+ is issued, cancelled, expired and presented (i.e. act of payee requesting payment). This provides visibility on when and why a payment was made, and who the payer and payee are.

have you got yours?