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Table of Contents
Chequebook decommission
Goal/ Objective/ Status
To migrate from Teresa Ville's payment of invoices by cheque to a digital method by 40th AGM in Oct 2025.
Background/ History
MAS has mandated the phase out of all corporate cheques by end-2025. There is no need for us to drag out the migration and scramble at the 11th hour. I would like to oversee the MA's prompt and seamless migration implementation.
FYI, we have been paying a $3/cheque clearing fee since Nov 2023. For the 9 months to end-August, we paid Standard Chartered a total of $759 for the 253 cheques we issued, not counting the cost of chequebooks.
Milestones
Game plan
Notes
Questions:
- What has been done so far?
- What is the process?
- what will be the monthly updates?
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