At the latest auction of Treasury Bills, I submitted a bid through my bank, since I was using funds from my Central Provident Fund (CPF) Ordinary Account.
After the bills’ issue date, I found that no deduction had been made from my CPF account.
My relationship manager checked, and told me that the bank had sent the signed form to the Monetary Authority of Singapore (MAS).
But when I checked with MAS, it said that it had not received any bid made under my name.
I have kept a copy of the application form with the bank and time stamp as proof of my bid.
I think it is time that the CPF Board allowed members to apply for Singapore Government Securities (SGS) products online, instead of requiring members to apply in person at a bank branch.
Goh Geok Huat