Excess Child Development Account Balance (ECB) is the unused Child Development Account (CDA) funds that exceed the Post-Secondary Education Account (PSEA) cap when the CDA closes at the end of the year the child turns 12.

ECB will be transferred via PayNow to the bank account linked to your child’s birth certificate number, or if unavailable, to the bank account linked to the CDA trustee’s NRIC in Feb of the year the child turns 13. 

To receive the ECB promptly, parents/trustees are encouraged to register for PayNow for any of the following bank accounts and linking it to their child’s birth certificate number or the CDA trustee’s NRIC by 31 Dec of the year of CDA closure: 

• A personal account in the child’s/trustee’s name 

• A joint account between the child and their parent/trustee

• A joint account between the non-trustee parent and the trustee (parent or third-party trustee)   

The CDA trustee must use the ECB for the benefit of the child.