A cashier's order is a cheque the bank writes against its own funds after taking the money out of your account, so the payee is guaranteed to be paid. In Singapore the cheapest way to buy one in 2026 is through your bank's app, where DBS/POSB charges S$3 and UOB charges S$3 via personal internet banking, versus S$10 to S$15 at a branch counter. It stays valid for six months, has a S$5 minimum and a per-order cap of S$100,000 at DBS. People still reach for a cashier order for the things that need certainty of payment on the spot: an HDB or property option fee, a used-car or COE handover, a rental deposit, or a school fee. This guide breaks down the real 2026 fees bank by bank, the validity and cancellation rules, and the new digital alternative banks are pushing as cheques wind down.
When you buy a cashier's order, the bank debits your account immediately and issues a cheque drawn on itself. Because the money has already left your hands and sits with the bank, the order cannot bounce the way a personal cheque can. That guarantee is the whole point: the seller of a car or the housing agent collecting an option fee knows the payment is good before they hand anything over.
It goes by a few names. Some banks and older documents call it a banker's cheque or banker's draft. A demand draft is the cross-border cousin, used to send a guaranteed payment in a foreign currency to someone overseas. For a domestic Singapore-dollar payment, cashier's order is the term you will see on your banking app.
Funds are pulled from your current or savings account, not a credit card, because the bank needs cleared money to back the guarantee. Check the SDIC deposit-insurance angle separately if you are holding large balances; a cashier's order itself is a payment instrument, not a deposit product.
The single biggest money lesson here is to buy online. Every major bank charges far less through its app or internet banking than at a counter, and several waive the fee entirely when the order is made out to your own name. The figures below are the standard retail charges as of June 2026; always confirm on your bank's current fees-and-charges page before you transact, because banks revise these from time to time.
Customers aged 60 and above get cheque-related fee waivers at the local systemically important banks, a concession the regulator confirmed runs as the cheque system winds down. If that applies to you, ask the branch to apply it.
| Bank | Online / app | Branch counter | Notes |
|---|---|---|---|
| DBS / POSB | S$3 | S$15 | S$5 minimum, up to S$100,000 per order; lost-order replacement S$15 |
| UOB | S$3 (personal internet banking) | S$5 | S$5 via BIBPlus business banking; can mail to you or payee |
| OCBC | Free to your own name; S$5 to a third party | From S$10 | Premier Banking customers fee waived |
| Maybank | Free for first order to own name; S$5 thereafter | S$5 | Amendment S$5, mailing S$3, cancellation S$20; SGD only |
| HSBC | Free to own name; S$10 third party (SGD) | S$10 | USD cashier's order around US$20 |
| Standard Chartered | S$5 | S$15 | Rates vary by account tier |
A personal cheque is cheaper but can bounce, and the corporate version is being retired entirely. A bank transfer over PayNow or FAST is instant and free for most retail payments, which makes a cashier's order overkill for everyday sums. The order earns its fee only when the other side demands a physical, bank-guaranteed instrument, which is still common for property and motor transactions.
FAST now moves up to S$200,000 a day for many account holders, so for a private payment between two willing parties a transfer is usually faster and cheaper. The sticking point is that some agents, dealers and institutions still insist on a cashier's order on their side.
| Method | Typical cost | Payment guaranteed? | Best for |
|---|---|---|---|
| Cashier's order | S$3 to S$15 | Yes, bank-backed | Property option fee, car/COE handover, deposits |
| Personal cheque | Free to issue | No, can bounce | Low-stakes payments where the payee trusts you |
| PayNow / FAST transfer | Free | Funds final once received | Instant private payments up to daily limit |
| Demand draft | S$10 and up | Yes, bank-backed | Guaranteed payment in a foreign currency overseas |
Double-check the spelling of the payee before you confirm. A wrong name means an amendment fee, or a cancellation and a fresh order, which costs more than getting it right the first time. If the payment is for a property purchase, the agent will tell you the exact name to use; cross-reference it against the Option to Purchase document.
A cashier's order is valid for six months from the date of issue. After that the payee cannot bank it in and you have to cancel and reissue, so do not buy one weeks before you actually need it.
To cancel an order you have not handed over, take it back to the issuing bank with your receipt and the order number. DBS currently waives its cancellation fee, but Maybank charges S$20, so the cost depends entirely on your bank. Cancellation is not instant; banks typically take a few weeks to process the refund back to your account.
Losing one is the awkward case. The money has already left your account, but you no longer hold the instrument. You will need to sign an indemnity form and, depending on the bank, get the payee's written or notarised consent before the bank issues a replacement. DBS charges a S$15 handling fee for this. If you suspect the order was stolen and fraudulently cashed, file a police report immediately.
The clearest cases are property and motor. A cashier's order is the standard way to pay the option fee on an HDB or private purchase, and used-car buyers use one to protect the seller during the vehicle and COE handover so nobody walks away with a bounced cheque. It is also common for rental security deposits, school and university fees, and one-off legal settlements where the recipient wants certainty before releasing anything. If you are budgeting a property deal, line the order up alongside your Buyer's Stamp Duty so the cash is ready on signing day.
The bigger shift is that Singapore is retiring cheques. Banks stopped issuing SGD cheque books to corporates from 1 July 2025 and ceased corporate cheque book issuance by 31 December 2025, with corporate cheques no longer accepted from 1 January 2027. Retail cheques, USD cheques and cashier's orders stay available for individuals. To fill the gap, the central bank and the banks launched Electronic Deferred Payment Plus (EDP+) in 2025 as the digital, bank-guaranteed alternative to a cashier's order, alongside EDP for post-dated payments. Expect EDP+ to gradually take over the use cases a cashier's order covers today, so it is worth checking whether the party you are paying will accept it before you pay for paper.
Buying online is cheapest: DBS/POSB and UOB charge S$3 through their apps, while a branch counter runs S$5 to S$15 depending on the bank. OCBC, Maybank and HSBC waive the fee when the order is payable to your own name. These are standard retail rates as of June 2026.
A cashier's order is valid for six months from the date of issue across the major Singapore banks. After it expires the payee can no longer deposit it, and you will have to cancel the order and request a reissue, so avoid buying one well before you actually need to hand it over.
Yes, if you have not handed it over. Bring it back to the issuing bank with your receipt and order number. DBS currently waives the cancellation fee while Maybank charges S$20, and the refund to your account usually takes a few weeks rather than happening on the spot.
The money has already left your account, so you cannot simply re-buy it. You sign an indemnity form, and depending on the bank you may need the payee's written or notarised consent, before a replacement is issued. DBS charges a S$15 handling fee. File a police report if you think it was stolen and cashed fraudulently.
No. PayNow and FAST move money electronically, usually free and instant, with FAST now allowing up to S$200,000 a day for many account holders. A cashier's order is a physical, bank-guaranteed cheque that some agents, car dealers and institutions still require, which is the main reason to pay the fee instead of transferring.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.