If you are banking with Ocbc, this information will be pretty useful, especially if you need your funds real fast!
So how do you mark a cheque? What does marking a cheque mean?
To mark a cheque means that you get your funds on the same day. Different banks have different charges but Ocbc charges $40 for Ocbc cheques and $80 for non Ocbc cheques. The procedures are slightly different, depending on the cheque that you have.
1) Ocbc cheque - this is the best cheque to mark at Ocbc because you can do it at any branch, every day except for Sunday (new restriction) and at any time, there is no cut off time. As long as the branch is open, you can get your funds just by paying $40, which you are allowed to deduct from the cheque amount or make payment by cash or deduct from your account.
2) For non Ocbc cheques, the procedure is more complicated and troublesome.
You need to go to the tampines Cpf building branch to mark the cheque, and after that, deliver the cheque and proof of payment to the Ocbc cheque clearing center at UOB building in Tampines.
The charges are $80 and you will have to either pay in cash or via deduction from the account. You will not be able to deduct from the cheque amount. Also, did I mention that there is a cut off time? Well, there is. You need to mark the cheque and deliver it to the officer at the cheque clearing center at UOB building 3rd floor before 1pm. If you arrive at Ocbc bank late and there is a long queue, you can inform the officer there that you are marking a cheque, they will usually try to put you at the front of the queue.
In a nutshell
Ocbc bank cheques
- Any branch will do and on any day except Sunday with no cut off time.
- $40 per marked cheque
Cheques from other banks
- Only the branch at Tampines Cpf Building.
- Before 1pm Monday to Friday only
- $80 per marked cheque