Direct crediting to foreign bank account via Telegraphic Transfer (TT)
This option enables you to apply for Telegraphic Transfer (TT) to credit your policy payout directly to your overseas bank account.
What you need to know
- Telegraphic Transfer transactions are subject to prevailing charges and conversion rates imposed by the bank(s) involved.
- Any payout credited will be net of any charges imposed by the bank(s) involved in the telegraphic transfer. In the event that a Telegraphic transfer is unsuccessful, charges will also be imposed before the amount is reissued to you.
- If the payout amount is less than $200, regardless of currency, the payout method will automatically change to cheque.
Apply or change a Telegraphic Transfer account
Who is this for:
- Applicable for non-SGD policies and SGD policies where proceeds are to be paid to overseas bank accounts or local wealth management accounts, including those under DBS Treasures, DBS Treasures Private Client, DBS Private Banking and other private banks.
- This application or change will apply to all future payouts for the selected policies superseding any existing payout instructions
Instructions
1. Log in to your account on MyManulife or the Manulife SG App.
2. Click "Services", then select "Telegraphic Transfer".
3. Choose the policy for which you wish to apply for Telegraphic Transfer.
4. Under "Type of Request," select "Application/Change of Telegraphic Transfer (TT) account“.
5. Complete the required information and upload a copy of your bank statement or passbook for verification.
6. Follow the on-screen instructions to complete the process. You will receive a notification once the request is processed.
Terminate a Telegraphic Transfer arrangement
Who is this for:
- Applicable for non-SGD policies with an existing Telegraphic Transfer (TT) arrangement.
- For non-SGD policies, after termination, future payments will default to cheque.
- If you have an SGD policy, you can terminate your TT arrangement by applying for PayNow or Electronic Fund Transfer (EFT) to change your payout method.
Instructions
1. Log into your account via MyManulife
2. Click on "Services", then select "Telegraphic Transfer".
3. Choose the policy on which you wish to terminate the Telegraphic Transfer.
4. Under "Type of Request," select "Termination of Telegraphic Transfer (TT) arrangement".
5. Follow the on-screen instructions to complete the process. You will receive a notification once the request is processed.
Apply or Terminate a Telegraphic Transfer arrangement via form submission
Instructions
1. Download and complete the Telegraphic Transfer (TT) Form.
2. Upload a copy of your bank statement or passbook that displays the Account Holder’s name and Bank Account number on the same page for verification.
3. You can mail the completed original hard copy form along with any supporting documents (if applicable) to the following address:
Manulife (Singapore) Private Limited
8 Cross Street
#15-01 Manulife Tower
Singapore 048424
Please ensure that the form is signed in wet ink. Click here to obtain the Business Reply Envelope for your submission.
If you do not have a MyManulife account, you can easily follow the step-by-step instructions here to create your account.
How to upload form to MyManulife
1. Log into your account via MyManulife or the Manulife SG App.
2. Click on "Services".
3. Under "Upload Forms", click on "Other Transactions". Follow the instructions on the page to submit the completed form.
Who will need to sign the form?
For non-trust policies:
- The Assignee or Policyowner must sign the form.
For Trust policies under Section 132 of the Insurance Act (formerly known as S49L):
- The Policyowner and any one Trustee who is not the Policyowner, or
- All Beneficiaries who are at least 18 years old must sign the form.
- If any Beneficiary is under 18 years old, a legal guardian or parent who is not the Policyholder can provide consent.
For a Trust policies under Section 73 of the Conveyancing and Law of Property Act:
- The Policyowner and all Trustees, or
- All Beneficiaries who are at least 21 years old must sign the form.
- If any Beneficiary is under 21 years old, a legal guardian or parent who is not the Policyholder can provide consent.
