Why must I apply for Direct Crediting Service (DCS)? What is DCS activation? Why do I need to do this?

Question

Accepted Answer

DCS allows CDP to credit your Singapore-dollar cash entitlements such as dividends and interest payments into your designated bank account. Your CDP Securities account must already have a DCS bank account linked up before you can apply for the Savings Bonds.
Participating DCS banks in Singapore are currently: Citibank, DBS/POSB, HSBC, Maybank, OCBC, Standard Chartered Bank and UOB. There are no DCS banks outside Singapore.

I have CDP Securities Account but do not have a designated DCS bank account. How do I apply for DCS?