Why do you still need the foreigner and 3rd party Child Development Account (CDA) trustee to make a trip to the bank, when most transactions can already be done online?
To open a Child Development Account (CDA), the majority of Singaporean CDA trustees do not need to make a trip to the CDA bank, as we can verify their particulars with our records.
However, the CDA banks require foreigners or third-party CDA trustees to make a trip to the bank so that the bank could verify the trustees’ particulars.
Related questions
I enrolled my child into Baby Bonus Scheme before 1 July 2024. Can I change Child Development Account (CDA) trustee before opening my CDA?
What is the requirement to be a Child Development Account (CDA) Trustee?
Can I open a new Child Development Account (CDA) directly with any of the Child Development Account (CDA) banks?
Do I need to verify my Child Development Account (CDA) transactions?
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