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Company stamp question

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sundaymorningstaple
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Postby sundaymorningstaple » Mon, 14 Feb 2011 5:52 pm

Actually, today you don't need to chop a cheque. Only an authorized signature is required unless you make it a requirement with the bank that your company cheque must be both chopped and signed (both will be placed on the banks signature care if that is the case). That's up to the company directors though, and not up to the bank (I guess it could be a requirement for some banks, but our bank, OCBC doesn't required it & I believe DBS/POSB do not require it as well.

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Postby Strong Eagle » Mon, 14 Feb 2011 6:45 pm

sundaymorningstaple wrote:Actually, today you don't need to chop a cheque. Only an authorized signature is required unless you make it a requirement with the bank that your company cheque must be both chopped and signed (both will be placed on the banks signature care if that is the case). That's up to the company directors though, and not up to the bank (I guess it could be a requirement for some banks, but our bank, OCBC doesn't required it & I believe DBS/POSB do not require it as well.


Same here... no chop requirement at UOB... just signatures and directors resolutions indicating maximum amounts and signatures required.

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Postby aster » Mon, 14 Feb 2011 6:48 pm

HSBC company checks also don't need a stamp, a sig is sufficient.

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Postby pacads » Mon, 14 Feb 2011 9:40 pm

Mad Scientist wrote:
pacads wrote:Since when you are required to stamp on cheques? Are you very sure about this?


Since the day I was born and when did my business over 15 years. Are you sure about question ?


It's amazing to know that you already know what is a cheque when you were born. My 2 months old daughter just know how to cry when she is hungry. I'm stating my professional views and you have the right to believe in what you like.

And now you can be very sure I'm not parroting anyone. It's pretty clear, isn't it?

Anyway I'm not here to quarrel with anyone and I don't participate in every thread. There are alot of wrong information shared in this thread, if anyone is looking for the right information, I would suggest you are better off elsewhere.

PS: I only make a simple post to prevent the blind from leading the blind and due to some allegations without merit, I've to make another 3 post to clarify. I really don't know which is sillier.

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Postby Mad Scientist » Tue, 15 Feb 2011 7:40 am

pacads wrote:
Mad Scientist wrote:
pacads wrote:Since when you are required to stamp on cheques? Are you very sure about this?


Since the day I was born and when did my business over 15 years. Are you sure about question ?


It's amazing to know that you already know what is a cheque when you were born. My 2 months old daughter just know how to cry when she is hungry. I'm stating my professional views and you have the right to believe in what you like.

And now you can be very sure I'm not parroting anyone. It's pretty clear, isn't it?

Anyway I'm not here to quarrel with anyone and I don't participate in every thread. There are alot of wrong information shared in this thread, if anyone is looking for the right information, I would suggest you are better off elsewhere.

PS: I only make a simple post to prevent the blind from leading the blind and due to some allegations without merit, I've to make another 3 post to clarify. I really don't know which is sillier.


Fair comment. First of all although I am retired now, I had seven companies under my belt since 1985. Three of those are in Singapore. Still there now when I sold my shares to the new owners.
From Maybank , DBS, Standard Chartered and Citibank all our cheques has two authorise signatures and a company stamp on it. These are security features among other measures taken by the bank.
I am one of the authorise signatory hence I KNOW what I am talking about. Till now we are still using it. The company stamp and the authorise signatures will be a security measures when the company takes a loan or TD, FD, BG LC and even OD.

The company stamp is also used when you clear your goods from the custom against your LC authorise by the bank for one instances.

If some banks do away with it does not means all banks do the same right ??
If you think I am blind leading the blind then I think all the posts I contributed here is leading many people to pitch black bottomless hole.

BTW there are few of you or maybe yourself alone operating changing from one nick to another trying to promote your links, hmmmm??
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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Postby ScoobyDoes » Tue, 15 Feb 2011 12:14 pm

Mad Scientist wrote:If some banks do away with it does not means all banks do the same right ??


Isn't it more, these days, to how you set up the company and write the resolutions? If at the time of set-up and opening accounts the resolutions say a Company Stamp is required then that's it until resolved otherwise.

In 15-yrs I've never put Company Stamps of cheques, though yes, certainly a requirement when negotiating an L/C where the Stamp is required on all the invoices, packing lists and back of L/C paperwork.
'When Lewis Hamilton wins a race he has to thank Vodafone whereas in my day I used to chase the crumpet. I know which era I'd rather race in.'

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Postby pacads » Tue, 15 Feb 2011 12:40 pm

Mad Scientist wrote:
pacads wrote:
Mad Scientist wrote:
pacads wrote:Since when you are required to stamp on cheques? Are you very sure about this?


Since the day I was born and when did my business over 15 years. Are you sure about question ?


It's amazing to know that you already know what is a cheque when you were born. My 2 months old daughter just know how to cry when she is hungry. I'm stating my professional views and you have the right to believe in what you like.

And now you can be very sure I'm not parroting anyone. It's pretty clear, isn't it?

Anyway I'm not here to quarrel with anyone and I don't participate in every thread. There are alot of wrong information shared in this thread, if anyone is looking for the right information, I would suggest you are better off elsewhere.

PS: I only make a simple post to prevent the blind from leading the blind and due to some allegations without merit, I've to make another 3 post to clarify. I really don't know which is sillier.


Fair comment. First of all although I am retired now, I had seven companies under my belt since 1985. Three of those are in Singapore. Still there now when I sold my shares to the new owners.
From Maybank , DBS, Standard Chartered and Citibank all our cheques has two authorise signatures and a company stamp on it. These are security features among other measures taken by the bank.
I am one of the authorise signatory hence I KNOW what I am talking about. Till now we are still using it. The company stamp and the authorise signatures will be a security measures when the company takes a loan or TD, FD, BG LC and even OD.

The company stamp is also used when you clear your goods from the custom against your LC authorise by the bank for one instances.

If some banks do away with it does not means all banks do the same right ??
If you think I am blind leading the blind then I think all the posts I contributed here is leading many people to pitch black bottomless hole.

BTW there are few of you or maybe yourself alone operating changing from one nick to another trying to promote your links, hmmmm??


Like I mention you have every right to believe what you want to believe in and I will not do anything to change your mind. Since you are already retired, I'd suggest you update yourself with the current situation in Singapore before you dish out advises. If you want to find out, you can call ALL the banks in Singapore.

Even for application of loans which requires company stamp, the banks do not require you to have indentical company stamp. Maybe they will ask some questions but that's about all. They won't insist you. These are all rules and regulations set by the banks, standardize across the board, not something you and me can change. I don't know about your other comments in other threads but in this thread it is pretty obvious and I'm not refering to you alone.

Just because I had a link in my signature and I'm not allow to speak what I feel is right and whatever I commented is deem as promoting? Can you really tell what business I'm in from my link and makes you want to click it? Does it make sense to you?

I complied to the rules and regulations set here, if there is an issue with the link then make everyone do away with it. I'm perfectly fine with it. We had a change of user id because we want to standardize all our user id as it is too confusing for our staffs. We have also ceased using the previous user id ever since. Don't believe? Search my user id, you will find many similar user id as the one i am using now in different websites. Why make an assumption? We advertised on this website but it is only in classifed ads which is there for its purpose.

For a retired businessman and have 7 companies under your belt, you must be someone with substance. I can't think of a better reason for you to resort to names calling.


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