Enjoy the convenience of having your dividend payments or other cash distributions from your securities holdings automatically credited into your Citibank account.
Hassle-free way of receiving your Dividend Payments and Other Cash Distributions
No more waiting for your dividend cheques by mail, depositing them at the branch and worrying about lost, misplaced or expired cheques.
Faster Access to Dividends Payments
Access your dividend payments and other cash distributions immediately on the payment date. There is no time lag and you start to earn interest from the payment date once the funds are credited into your Citibank account.
No Fees Charged
Direct Crediting Service is free. There are no charges levied for receipt of dividends or other cash proceeds.
You can apply for DCS by completing the application form and mail it in to CDP at:4 Shenton Way
#02-01 SGX Centre 2
Note: If you already have an existing direct crediting arrangement with another bank, you can complete the same form and have your designated account changed to your Citibank account.
Click on to expand and on to minimise the details.
Direct Crediting Service (DCS) is a free service offered jointly by Citibank and SGX to let CDP Account holders enjoy the convenience of having their Singapore-dollar dividend payments or other cash distributions from their securities holdings credited directly into their designated Citibank account.
You'll enjoy greater convenience as you do not need to wait for your dividend cheques to arrive by mail, and subsequently deposit them into your Citibank account. Your dividends will start earning interest from the date of payment.
Please complete this form and mail it in to CDP at:4 Shenton Way
#02-01 SGX Centre 2
Alternatively, you can obtain the same application form from your stockbroking company or CDP.
Once your application has been approved, CDP will notify you via mail. Your bank account number will also be reflected in your CDP monthly and year-end statements.
You will receive a Monthly Summary of Payments with details of the dividends paid. This Monthly Summary of Payments will be sent to you whenever there are payments made to you for the month. There will also be a transaction code "CDP" on your bank statement to indicate the amount credited into your bank account.
If CDP is unable to credit the dividend payment into your designated Citibank account, you will receive a cheque from CDP instead. A DCS application form will be enclosed for you to furnish CDP with the updated details concerning your bank account.
You can submit a new form to CDP, or write to CDP providing your particulars:
- Securities account number
- Identification / passport number (the records with CDP and your bank should correspond)
- Contact number
- New designated bank name & account number
- Signature (to match that in our record)
You will receive a notification from CDP once the change has been effected.
No, DCS is a free service.
You can write to CDP on your request.