If there is a bank account linked to PayNow using the child’s birth certificate number or trustee’s NRIC, the excess CDA balance (ECB) will be automatically transferred in Feb of the year the child turns 13. MSF will inform the CDA trustee after the ECB has been transferred.

However, if PayNow is not set up, MSF will send a letter to the CDA trustee in Feb of the following year after CDA closure with instructions to nominate a bank account to receive the ECB, and the transfer will take up to 6 weeks.