Cashier’s Order in Singapore: Everything You Need to Know

Did you know that even in a place as safe as Singapore, financial scams still happen—especially during large transactions?

That’s why a cashier’s order can be a smart and secure way to move large sums of money, whether you’re buying property, selling a car, or receiving a hefty payout. If you’ve ever held a piece of paper that looks like a cheque but feels more “official,” chances are it was a cashier’s order.

In this guide, we’ll walk you through exactly what a cashier’s order is, how it works, when to use one, and how to protect yourself from fraud.

🔍 What Is a Cashier’s Order?

First things first: a cashier’s order (also called a banker’s cheque) has nothing to do with the cashiers at your local supermarket.

A cashier’s order is a payment instrument issued and guaranteed by a bank. Unlike a regular cheque, the money is debited from the payer’s account upfront—before the order is issued. That means the funds are secured and won’t bounce.

Think of it as a middle ground between carrying cash and making a bank transfer—just safer, more formal, and traceable.

🧠 How Does a Cashier’s Order Work?

Let’s break it down:

1. The payer goes to a bank and requests a cashier’s order.

    

2. The bank immediately deducts the amount from their account and issues the order.

    

3. The recipient receives the cashier’s order and deposits it into their own account.

    

4. The bank pays out the funds once the order clears.

    

It’s essentially the bank saying, “We’ve already secured the money. You’ll get paid—no surprises.”

⚠️ Heads up: If a cashier’s order is lost or stolen, cancelling or replacing it is a hassle. It might involve stop-payment procedures, indemnity forms, or fees depending on your bank.

✅ Why Use a Cashier’s Order?

Here are the main benefits:

• ✔️ Security: Funds are guaranteed by the bank—unlike cheques, which can bounce.

   

• ✔️ Reliability: You don’t have to worry about the payer’s account being short on cash.

   

• ✔️ Convenience: Many banks allow online applications (e.g. DBS, POSB, Maybank).

   

• ✔️ Speed: Funds often clear faster than personal cheques.

   

🆚 Cashier’s Order vs Personal Cheque

🏦 How to Get a Cashier’s Order in Singapore

Here’s what you need:

• Valid ID (NRIC or passport)

   

• Sufficient funds in your account

   

• Payee name and amount

   

You can apply:

• In person at a bank branch

   

• Online, if your bank offers digital services (DBS, POSB, UOB)

   

💵 Fees by Bank:

🔗 DBS Instructions | OCBC Info | UOB Info | Maybank

💳 How to Deposit a Cashier’s Order

1. Endorse the cashier’s order (if required)

    

2. Fill in a deposit slip with your account details and amount

    

3. Deposit via a branch counter or cheque deposit box

    

4. Wait for funds to clear (typically by next business day after 2pm if deposited before 3:30pm)

    

💰 Limits: How Much Can You Transfer?

Most banks allow a maximum of S$100,000 per cashier’s order (e.g., DBS).

Need to transfer more? You can break it up into multiple orders. Each order will incur its own fee.

🛡️ How to Avoid Scams and Fraud

Even with high security, fraudsters still find ways to trick people. Here’s how to stay safe:

1. Verify with the bank: Call the issuing bank to confirm the cashier’s order is real.

    

2. Avoid overpayment scams: Never refund excess money unless you’re 100% sure of the payer’s identity.

    

3. Buy from reputable banks: Always purchase directly through recognised banks.

    

4. Keep records: Save all transaction details and communications.

    

5. Report fraud: Call the Singapore Police at 1800-255-0000 or report at I-Witness.

    

📦 Is It Safe to Drop a Cashier’s Order in a Cheque Deposit Box?

Generally, yes. But for large amounts, it’s better to hand it in at the counter and request a receipt for peace of mind.

Banks are efficient, but if anything goes wrong, it helps to have immediate proof.

⏱️ When Will You Receive the Funds?

Here’s a simple breakdown based on DBS processing times: