For corporate service buyers who currently do not have an account with OCBC, are they required to open an account with the appointed bank, OCBC, if they wish to opt for bank mode payments?
You do not need to have a bank account with OCBC for Contribute As You Earn (CAYE). However, you'II need to obtain and complete a Host-to-Host (H2H) application form from OCBC to establish a H2H file transfer link-up with the bank.
This information is sourced from CPF
Related questions
For corporate service buyers using OCBC accounts, is there still a need to set up a Direct Debit Authorisation arrangement with OCBC to facilitate the deduction of service fee for bank mode payments?
Would payments made via the Contribute As You Earn (CAYE) online submission mode be debited from the corporate service buyers' bank account?
How can corporate service buyers using the bank mode check the breakdown of the Contribute As You Earn (CAYE) contributions and net service fee to the self-employed person?
Under Contribute As You Earn (CAYE), what should corporate service buyers do to set-off monies from an upcoming payment?
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