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Can I continue to use my CPF monies to pay for the quarterly bank charges even if I do not have $20,000 in my Ordinary Account?
You can use your Ordinary Account balance to pay for the quarterly agent banks charges, even if your Ordinary Account balance is below $20,000. The restriction on the use of the first $20,000 in Ordinary Account for CPF Investment Scheme-Ordinary Account only applies to new investments, including payments for recurring single premiums (for insurance) and regular savings plans (for unit trusts).
This information is sourced from CPF.
Related questions
Why are my investment proceeds in my CPF Investment Account not transferred to my Ordinary Account immediately?
Do I have to incur any charges for CPF Investment Scheme investments?
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Can I top-up my CPF Investment Account under CPF Investment Scheme-Ordinary Account with cash if I do not have sufficient CPF savings for investment?
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How will the restriction on investments for the first $20,000 in Ordinary Account and the first $40,000 in Special Account affect me?
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