{"id":5343,"date":"2017-05-20T12:00:50","date_gmt":"2017-05-20T04:00:50","guid":{"rendered":"https:\/\/blog.carro.sg\/?p=5343"},"modified":"2025-11-05T17:26:33","modified_gmt":"2025-11-05T09:26:33","slug":"get-cashiers-order-top-banks-singapore","status":"publish","type":"post","link":"https:\/\/carro.co\/sg\/blog\/get-cashiers-order-top-banks-singapore\/","title":{"rendered":"How to Get Cashier\u2019s Order from the Top Banks in Singapore"},"content":{"rendered":"Singapore is one of the safest countries in the world. But this doesn\u2019t mean that we are free from the possibilities of crime and deceit. Especially with purchasing and\/or selling big-ticket items like cars, it\u2019s even more important to stay vigilant during the transaction. One way to ensure this is by using a cashier\u2019s order during the car handover.<\/span>\r\n

But what is a cashier\u2019s order, and why does it matter?<\/strong><\/h2>\r\n

Cashier's Order vs Personal Cheque<\/strong><\/h3>\r\n
\"cashier's
Source: https:\/\/conversation.which.co.uk<\/figcaption><\/figure>\r\n\r\nA cashier\u2019s order and personal cheque share a lot of similarities. Both are methods for you to transfer money through a written document. These documents can be cashed or deposited.<\/span>\r\n\r\nHowever, the cashier\u2019s order is issued by the bank, which is why it is also known as a Banker\u2019s Cheque. This means that when you purchase a cashier\u2019s order, money is directly deducted from your bank account and placed into the bank\u2019s own account. Afterwhich, the bank will transfer the money to the recipient when the cashier\u2019s order is cashed.<\/span>\r\n

The Importance of Cashier\u2019s Order<\/strong><\/h3>\r\n
\"cheque
Source: http:\/\/images.wisegeek.com<\/figcaption><\/figure>\r\n\r\nSince a cashier\u2019s order is issued by the bank and money is already deducted from the drawee\u2019s account, it\u2019s pretty much guaranteed that the recipient will get their money. This is in contrast with personal cheques.<\/span>\r\n\r\nPersonal cheques can still get bounced or rejected. These instances occur when the drawee does not have enough money in their bank account. As a result, making payment through a cashier\u2019s order is a more reliable mode of transaction as it protects the seller\u2019s interests.<\/span>\r\n\r\nImagine handing over your car to a buyer and receiving a cheque in return, but ending up with no money received at all as the cheque turns out to be a bad cheque. To make things worse, paying with bounced cheques is not a crime. So, taking any legal action against the buyer will be time-consuming and tedious.<\/span>\r\n\r\nYou may ask, \u201cWho could be so evil and cheat someone?\u201d Well, it\u2019s actually <\/span>more common than you think<\/span><\/a>.<\/span>\r\n

The Less Publicized Past Fraud Cases<\/strong><\/h3>\r\n
\"cashier's
Source: http:\/\/hedgeconnection.com<\/figcaption><\/figure>\r\n\r\nMost of the time, car scams involve <\/span>sellers who trick buyers<\/span><\/a> into paying a sum of money without actually delivering the cars to them. However, there are also cases where buyers are the ones being fraudulent. And surprisingly, these cases are quite rampant.<\/span>\r\n\r\nOne of these cases can be found on the Club Snap forum page. There, you can find a post by a user named White Wolf. The user claims that his father sold his car and received a bounced check, losing out on $11,000. Scary, eh?<\/span>\r\n\r\nThe fact that these cases are being reported more on online forums instead of in the news means that the public is not being educated on this serious issue enough and that many culprits got away with it. This is why Singaporeans should be more aware of the importance of making big payments via cashier\u2019s orders.\u00a0<\/span>\r\n\r\nNow that you are aware of the safety and significance of the cashier\u2019s order, how do you proceed to get one? Getting a cashier\u2019s order is an important mode of payment for cars during handover. However, not everyone is familiar with it and how to obtain it. Well, that is about to change as we present to you this curated guide on how to get one from these top banks in Singapore.<\/span>\r\n

Getting a Cashier's Order from Singapore's Top Banks<\/b><\/h2>\r\nAcquiring a cashier\u2019s order can be done at all established banks in Singapore, simply by purchasing it at the bank branches or via iBanking.<\/span>\r\n\r\nRemember, bring along your NRIC if you are intending to visit the bank and purchase it over the counter!<\/span>\r\n

POSB or DBS<\/strong><\/h3>\r\n
\"DBS
Source: https:\/\/www.fortytwo.sg<\/figcaption><\/figure>\r\n\r\nYou can purchase your cashier\u2019s order from DBS and POSB either through iBanking or by going down to the bank. Purchasing online is a preferred choice because it\u2019s free! On the other hand, purchasing it at the bank will require a $5 fee for every cashier\u2019s order.<\/span>\r\n\r\nThe process through iBanking is quite straightforward; you just need to go to \u2018Transfer\u2019, choose \u2018Other Services\u2019, find the option \u2018Purchase Cashier\u2019s Order (Self-Collect)\u2019, and follow the instructions thereafter.<\/span>\r\n\r\nThe maximum amount per cashier\u2019s order at DBS and POSB is S$10,000 so if the amount you are looking at exceeds the limit, you will need to purchase an additional cashier\u2019s order. Once you have submitted your order, head down to your preferred branch to collect the cashier\u2019s order.\u00a0<\/span>\r\n\r\nFind the POSB and DBS Cashier's order application form in the official guides <\/span>here<\/span><\/a> and <\/span>here<\/span><\/a>!<\/span>\r\n\r\n
\r\n

Looking to buy a car? Browse our high-quality pre-owned cars today!<\/strong><\/p>\r\n\"cashier's<\/a>\r\n\r\n

\r\n\r\n

UOB<\/strong><\/h3>\r\n
\"UOB
Source: http:\/\/blancmedia.s3-ap-southeast-1.amazonaws.com<\/figcaption><\/figure>\r\n\r\nSimilar to DBS\/POSB, UOB allows you to purchase the cashier\u2019s order at the bank itself and online through Personal Internet Banking (PIB) or the business internet banking, BIBPlus.<\/span>\r\n\r\nThe difference is, if you purchase it via PIB or BIBPlus, you have the choice to have it mailed either to you or to the intended recipient. The fee for applying through BIBPlus and going to the branch is $5 per cashier\u2019s order. Meanwhile, if you use PIB, it is slightly cheaper \u2013 $3 per cashier\u2019s order.<\/span>\r\n\r\nYou can download the cashier's order application form for UOB and look at the terms and conditions <\/span>here<\/span><\/a>.<\/span>\r\n

OCBC\u00a0<\/strong><\/h3>\r\n
\"cashier's
Source: http:\/\/fm.cnbc.com<\/figcaption><\/figure>\r\n\r\nIf you happen to have OCBC\u2019s business internet banking, Velocity@OCBC, you can purchase your cashier\u2019s order online at a fee of $5.<\/span>\r\n\r\nAs for personal accounts, it\u2019s free-of-charge if you were to purchase a cashier\u2019s order payable to your own name. On the other hand, a $5 fee is applicable if the amount is payable to a third-party\u2019s name. And if you are an OCBC Premier Banking customer, the $5 fee is waived completely. <\/span>\r\n

HSBC Cashier's Order<\/strong><\/h3>\r\n
\"HSBC
Source: http:\/\/www.businesstimes.com.sg<\/figcaption><\/figure>\r\n\r\nApplication for cashier\u2019s order can be made at any HSBC branch or through business and personal internet banking. However, the fee for purchasing cashier\u2019s orders at HSBC retail banking and wealth management is higher than the others - it\u2019s S$10 for a local cashier\u2019s order and USD20 for a cashier\u2019s order in US dollars. Similar to OCBC, the fee is waived if the cashier\u2019s order is issued to your own name.<\/span>\r\n\r\nDownload the application form for a cashier's order for HSBC Singapore <\/span>here<\/span><\/a>.<\/span>\r\n

Maybank Cashier's Order<\/strong><\/h3>\r\n
\"getting
Source: http:\/\/singaporerenovationcontractor.com<\/figcaption><\/figure>\r\n\r\nFor Maybank, it\u2019s important to note that the cashier\u2019s order is for Singapore Dollar payments only. To purchase, you may go down to a Maybank branch or apply for one through Maybank Online Banking <\/span>here<\/span><\/a>. The fee is $5, but the first cashier\u2019s order payable to your own name is free.<\/span>\r\n\r\nYou can also make amendments, but it will incur another $5. However, if you wish to cancel the cashier\u2019s order, the fee is $20, which is much higher than the fees offered by other banks at just $5. If it\u2019s too troublesome to collect it, you can also get them to mail it to you at $3.<\/span>\r\n\r\nFind out more <\/span>here<\/span><\/a>.<\/span>\r\n

What Next?<\/h2>\r\nThrough this guide, we hope that you are now more confident to purchase a cashier\u2019s order from your bank and to use it to pay for your car. However, bear in mind that the cashier\u2019s order is cleared the same way as your personal cheques so give it some time for the bank to process it!<\/span>\r\n\r\nAlso, cancellation fees usually apply and cashier\u2019s orders are usually only valid for 6 months, so it\u2019s better to be entirely sure about your cashier\u2019s order needs before you order them.<\/span>","protected":false},"excerpt":{"rendered":"

Singapore is one of the safest countries in the world. But this doesn\u2019t mean that we are free from the possibilities of crime and deceit. Especially with purchasing and\/or selling big-ticket items like cars, it\u2019s even more important to stay vigilant during the transaction. One way to ensure this is by using a cashier\u2019s order …<\/p>\n","protected":false},"author":2,"featured_media":5345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[725],"tags":[],"class_list":["post-5343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle-car-tips"],"_links":{"self":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/5343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/comments?post=5343"}],"version-history":[{"count":1,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/5343\/revisions"}],"predecessor-version":[{"id":16502,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/5343\/revisions\/16502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media\/5345"}],"wp:attachment":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media?parent=5343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/categories?post=5343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/tags?post=5343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}