- UOB is a direct member of all clearing systems in Singapore and a major SGD liquidity provider.
- Achieve cost efficiency by leveraging our large client base as 70% of our transactions are book transfers.
- Ensure timely execution of your SGD payments through the MAS Electronic Payment System (MEPS), a real-time gross settlement system.
SGD Cash Letter Service – Covers all SGD cheques and demand drafts that are drawn on banks in Singapore.
Clean Collections – UOB offers financial institutions the option of having their SGD cheques handled on a collection basis.
Tier Two Clearing Services – Leverage our direct Tier One membership and benefit from our continual investment in technology, system updates in clearing infrastructure as well as the complex intraday funding of SGD.
- GIRO (for local SGD clearing and settlement) – Offer your clients the convenience of making low-value bulk payments including payroll processing.
- SGD and USD Cheque Issuance – Provide your clients with SGD and USD cheque services without investing in cheque clearing, capturing and archiving systems.
Cheque Deposit Service - Covers clearing of SGD and USD cheques drawn on banks in Singapore. For cheque returns, we offer personal call advice service, supported with a cheque image document and debit advice to be collected at our Main Branch.
Bulk Cheque and Cashier’s Order Issuance - Convenience of issuing SGD and USD cheques and cashier’s orders. This service can be used directly for payment of miscellaneous expenses, disbursements of loans, or for cheques and cashier’s orders for tender deposits, dividends and vendor payments on behalf of your clients.
- Convenience of accessing your account and transaction information anytime, anywhere.
- Visibility of your cash position for better liquidity management.
- An alternative business continuity plan