How will my CPF savings be transferred to my bank account when my CPF account is closed?
You can choose to receive your CPF savings in three ways when your CPF account is closed:
1. Bank transfers via Interbank GIRO (IBG) to your Singapore bank account
2. Telegraphic transfer to your bank account overseas
You will need to bear all bank charges:
i. for telegraphic transfer to an overseas bank account
ii. if you provide insufficient bank account details resulting in an unsuccessful telegraphic transfer
i. Please ensure your bank can clear cheques issued in Singapore Dollars
ii. Upon receiving the cheque, please ensure that you bank it in within six months from the date of issuance to avoid paying additional charges for re-issuance of cheques
iii. You will need to bear all bank charges for overseas bank clearance of cheque.