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Why must I apply for Direct Crediting Service (DCS)? What is DCS activation? Why do I need to do this?
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Source: https://www.mas.gov.sg- 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.
This information provided here is sourced from the MAS website.
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