Do I need to update my PayNow NRIC-linked bank account as my registered bank account with CPF each time I make a withdrawal or switch to another PayNow-linked bank account?

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Accepted Answer

No, you only need to perform the update of your registered bank account to your PayNow NRIC-linked bank account once and wait 12 hours for it to be activated. You can do so via Account settings. Thereafter, you may apply for retirement withdrawals for immediate needs via PayNow anytime to receive your CPF withdrawals almost instantly.

There is no need to update the Board if you have linked your PayNow-NRIC to a different bank account. Your CPF payments will automatically be made to whichever bank account you have linked to your PayNow-NRIC.

Do I need to update my PayNow NRIC-linked bank account as my registered bank account with CPF each time I make a withdrawal or switch to another PayNow-linked bank account?

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Related questions

Why do I need to update my registered bank account with CPF Board to my PayNow NRIC-linked bank account to make PayNow withdrawals if I have already withdrawn via PayNow previously?

What bank accounts can I use to update my bank account details?

My current registered bank account with CPF Board is also my PayNow NRIC-linked bank account. Do I still need to update my registered bank account with CPF Board to receive my CPF withdrawals via PayNow?

Why do I need to update my registered bank account with CPF Board to my PayNow NRIC-linked bank account to make PayNow withdrawals if I have already withdrawn via PayNow previously?

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