Dear Member

Cessation of Cheque Payments

E-payments have become the new payment norm and it is a swift and efficient way to pay and receive funds. Hence, any physical form of payments have resulted in added costs being levied.

On July 2023, the Monetary Authority of Singapore announced the elimination of corporate cheques shortly. Banks in Singapore have also announced a levy on the issuance, processing and clearance of cheques with effect from November 2023. With these precursors at play, COMPASS will convert all royalty payments to GIRO (Internet Bank Transfer) with immediate effect.

Royalty payments will primarily be via GIRO (bank transfer) so do ensure your bank details are updated. You can update your details via the Member Portal or by downloading Member Information Update Slip here and sending it to us via email.

Members who have difficulties providing bank details may write in to membership@compass.org.sg for assistance. Special arrangements may be considered on a case-to-case basis. Payment via non-GIRO (bank transfer) will attract an administrative fee of S$8 per transaction.

Thank you.

Yours sincerely
Public & Member Engagement
COMPASS