If CPF members wish to change the daily default limit, they can go online at any time to adjust it to any sum between $0 and $200,000.
However, increasing the daily withdrawal limit will be possible only with Singpass face verification, and there will be a 12-hour cooling period to prevent unauthorised adjustments, said the CPF Board in a statement on Nov 20.
Those who wish to disable online withdrawals entirely can activate the CPF withdrawal lock, which will set the daily withdrawal limit to $0. This will mean that withdrawals can be made only in person at CPF service centres.
To enable online withdrawals again, members must increase the daily withdrawal limit with Singpass face verification, and wait 12 hours for it to go through.
This story is from the November 21, 2023 edition of The Straits Times.
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This story is from the November 21, 2023 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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