I agree to activate the Reserved Account(s) opened concurrently with the POSB Child Development Account. For the purposes of this declaration, the “Account(s)” means the relevant Account(s) notified to me, being a POSBkids Account or My Accounts.
I understand the Reserved Account(s) may include a personal Account for my child (or the minor) and/or a joint-alternate Account which can be operated by me or my child (or the minor) singly, and these may be linked to my existing ATM/Debit Card(s).
I understand that the operation, maintenance and closure of the Account(s) are separate and independent from the POSB Child Development Account.
I am the beneficial owner of the funds in the joint-alternate Account and shall only use the Account and the Bank’s products/services for legal purposes.
My child (or the minor) is the beneficial owner of the funds in the personal Account, and I am authorised to manage the funds in the personal Account on behalf of my child (or the minor) being the beneficial owner; and we shall ensure that the Account and the Bank’s products/services are only used for legal purposes.
I certify that the information in Section C and Section D (“Certification”) is true, accurate and complete. If any information changes, I shall immediately inform the Bank within 30 calendar days of the change, and provide supporting documents if required.
I agree that the Bank may disclose and transfer to its branches, subsidiaries, affiliates or representative offices located in any jurisdiction the information contained in the Certification, and any information relating to my accounts and products with the Bank, in connection with or to facilitate their compliance with applicable laws and regulations.
I consent to the Bank collecting, using and disclosing the above information (including disclosing information to any Singapore or other government authority or agency) that I have provided for the purpose of complying with applicable laws and regulations.
For parent/guardian/trustee/authorised representative signing on behalf of a person under 18 or person who is mentally incapacitated:
I warrant that I have the legal right to sign the Certification and either have obtained the individual's consent or have the right to consent on his/her behalf to such collection, use, disclosure and processing of his/her personal data by the Bank for the purposes of the Certification.
Ensure that you have accepted the terms and conditions
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.