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What happens if I don't have sufficient funds in my GIRO account for MediShield Life premiums?
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Source: https://www.cpf.gov.sg/memberIf you do not have sufficient funds in your GIRO account for MediShield Life premiums, the GIRO deduction will be unsuccessful and a second GIRO deduction attempt will be made on the 15th of the next month for two months’ instalments.
The GIRO payment plan will be suspended if there are two consecutive unsuccessful deductions. Interest and penalties may be imposed on your outstanding premiums and re-activation of the GIRO plan will be assessed on a case-by-case basis.
This information provided here is sourced from the CPF website.
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