Process for Payment of Closure Amount through Cheque for POSB Accounts in APT2.0 Application

To ensure a seamless and compliant process for disbursing POSB closure amounts via cheque in the APT application, the following steps must be adhered to by the respective Treasury and Source Offices:

1. Initiate Cheque Request Post Closure

After closing any POSB account and crediting the closure amount to the Finacle office account (Account No. 340), initiate a cheque payment request from the Treasury module:

Navigation:

Miscellaneous Receipts/Payments →

• Transaction Type: Payments

• Transaction Mode: Cheque

• Payee Name: (Enter as applicable)

• Remarks: (Enter relevant details)

• Account Code: 8671005000 – POSB Payment Cheque Issued

• Amount: (Enter the closure amount)

2. Forward the Request to HO

The Treasury Supervisor must forward the request to the Head Office (HO) using the following path:

Treasury → Approval of Miscellaneous Receipts/Payments → Forward

3. Cheque Issuance by HO Treasury

The HO Treasury will then issue the cheque in the Bank module by:

Drawing Management → View Details → Issue Cheque

The issued cheque will be automatically routed to the Source Office Treasurer.

4. Source Office Approval

At the Source Office:

• The Supervisor must approve the transaction

• The Treasurer must dispose of the cheque using the path:

Treasury → Cash/Cheque → Cheque Disposal

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