This is linked to your POSB Passbook Savings Account via Giro-Transfer Facility (GTF) to let you maximise your savings and issue cheques at your convenience. Each time you issue a cheque, that amount still earns interest in your POSB Passbook Savings Account until the cheque is cleared.
Benefits
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Automatic top-up: You can maintain zero balance in your POSB Current Account as money is automatically transferred from your POSB Passbook Savings Account to your POSB Current Account to clear your cheques. You just need to ensure there is enough money in your linked POSB Passbook Savings Account to honour your cheques.
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Auto-cheque mailing: You'll never run out of cheques as you automatically receive a new chequebook each time you're down to your last few cheques.
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Card convenience: A POSB Current Account comes with a POSB ATM Card that's activated instantly. In Singapore, the POSB ATM Card lets you access over 800 DBS/POSB ATMs and get rewarded with exciting On The Spot discounts and privileges. Overseas, it lets you pay for your PIN-based purchases at over 10 million Maestro retail outlets worldwide.
Terms
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