Pilot on Paynow Electronic Payment for Edusave

MOE will pilot the use of PayNow1 to disburse Edusave Award monies to Institute of Technical Education (ITE) and polytechnic students in 20182 for greater convenience and efficiency, in line with Singapore’s efforts to become a Smart Nation.

Under the pilot, once ITE and polytechnic Edusave Award recipients have signed up for PayNow with their respective banks (using their NRIC numbers), and are presented with their Award certificates at the presentation ceremony, they will receive the monies in their bank accounts directly on the day of the ceremony.

To receive the award monies promptly, ITE and polytechnic students should ensure that they first register for PayNow by linking their Singapore NRIC to their bank account, and attend the presentation ceremony. They can approach their bank if they need assistance in doing so. They can also refer to the attached guide on PayNow or visit www.abs.org.sg/PayNow for more information.

Footnotes
  1. PayNow is a funds transfer service that enables the customers of seven participating banks to send and receive Singapore Dollar funds from one bank to another in Singapore, using just their mobile number or NRIC/FIN, almost instantly. The seven participating banks are: Citibank Singapore Limited, DBS Bank/POSB, HSBC, Maybank, OCBC, Standard Chartered Bank, and United Overseas Bank.
  2. These include the Edusave Character Award (ECHA) and Edusave Award for Achievement, Good Leadership and Service (EAGLES) for ITE students; Edusave Skills Award (ESA), Edusave Merit Bursary (EMB) and Edusave Good Progress Award (GPA) for ITE and polytechnic students.