Last Updated: 11 December 2023
Edusave awards and scholarships: Register for PayNow
3. Register for PayNow
Edusave award recipients will receive the award monies via PayNow if they register for it before the day of the presentation ceremony.
If the PayNow disbursement is unsuccessful, MOE will contact you to submit your child’s bank details via FormSG.
The monies will be credited to your child’s bank account approximately 2 weeks after we receive their bank details. You will receive a confirmation letter by mail after the credit is successful.
Find out when students can expect to receive the monies.
What is PayNow registration
It is a one-time registration to link a student’s Singapore NRIC number or birth certificate number to their bank account.
Award monies will not be credited if PayNow registration is done using a mobile number or a parent’s NRIC number.
It will also not be credited into a parent’s personal account or given in cash.
Before registering
Students must have one of these bank accounts with a participating bank:
- A personal account in the student’s name.
- A joint account of the student and their parent.
- The student’s Child Development Account (CDA).
Linking your child's PayNow to a Child Development Account (CDA)
You will not be able to withdraw the award monies in cash. You can only use it to offset your child’s educational and healthcare expenses at approved institutions.
The CDA will be closed at the end of the year your child turns 12 years old. Thereafter, funds in the CDA will be automatically transferred to your child’s Post-Secondary Education Account, subject to a cap.
How to register
- Log in to the bank’s internet banking platform or mobile banking app.
- At the PayNow registration screen, link the student’s Singapore NRIC or birth certificate number to their bank account number.
- Complete an SMS OTP verification process if needed.
- To see if PayNow has been set up successfully, check the PayNow Profile in the ibanking account or app.
Check with your bank if there are other ways of PayNow registration as services between banks may differ.
Find out more on registering for PayNow with the respective banks:
- Citibank Singapore Limited (Only for 16-year-olds and above.)
- DBS Bank or POSB
- HSBC (Only for children above 12 years old.)
- Maybank
- OCBC
- Standard Chartered Bank (Only for 15-year-olds and above.)
- Bank of China (BOC) (Only for 15-year-olds and above.)
- United Overseas Bank (UOB)
- Industrial and Commercial Bank of China (ICBC) (Only for 15-year-olds and above.)