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Cheque Truncation System FAQs

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On 12 July 2003, the banking industry in Singapore launched a new online image-based cheque clearing system called the Cheque Truncation System (CTS). With CTS, a cheque is scanned when deposited and its electronic image, instead of the physical cheque, is transmitted throughout the entire clearing cycle.

In preparation for CTS, the local banking industry has adopted a new one-sized CTS cheque for both corporate and individual customers. These CTS cheques were issued to customers ahead of the launch of CTS so that they would be familiar with using the new cheques. From 1 July 2002, cheques that are not in the new CTS format were no longer accepted by banks for deposit and payment.

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