Scheduled Maintenance: CPF digital services will not be available on 7 Apr 2024, from 12am to 8am.

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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

Please ensure that the bank accepts payment in Singapore dollars. Otherwise, we will convert the payment to US dollars. You will need to bear all bank charges, including any foreign exchange rate differences and conversion charges:

i.    for telegraphic transfer to an overseas bank account

ii.   if you provide insufficient bank account details resulting in an unsuccessful telegraphic transfer.

3. Cheque

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 cheques.