Introduction
Congratulations on welcoming your little bundle of joy! As part of Singapore’s comprehensive support for families, the government provides a Baby Bonus Scheme to help parents meet the financial costs associated with childcare. One of the key components of this scheme is the POSB Baby Bonus Card, which allows parents to access the Baby Bonus cash gift and other benefits.
Activating your POSB Baby Bonus Card is a simple and straightforward process that can be completed in just a few minutes. Here’s a step-by-step guide to help you get started:
Step 1: Gather Required Documents
- NRIC or Passport of both parents
- Baby’s birth certificate or passport
- Proof of address (e.g., utility bill, bank statement)
Step 2: Visit a POSB Branch or ATM
- Visit any POSB branch during banking hours.
- Alternatively, you can use a POSB ATM that offers activation services.
Step 3: Insert Documents and Create PIN
- Insert your NRIC or Passport into the ATM/branch machine.
- Enter your baby’s birth certificate or passport information.
- Create a 6-digit PIN for your POSB Baby Bonus Card.
Step 4: Collect Your Card
- Once you have completed the activation process, the ATM/branch machine will dispense your POSB Baby Bonus Card.
Congratulations! Your POSB Baby Bonus Card is now activated.
You can now start using your card to access the Baby Bonus cash gift and other benefits, such as:
- Cash Gift: Parents receive a one-time cash gift of $8,000 for their first child, $10,000 for their second, and $12,000 for their third and subsequent children.
- Baby Bonus Saver: Parents can earn interest on the Baby Bonus cash gift by saving it in a POSB Baby Bonus Saver account.
- Baby Bonus Government Top-Up: The government provides an additional top-up of up to $2,000 per year for parents who choose to save the cash gift in a Baby Bonus Government Top-Up account.
Additional Tips
- If you have any difficulties activating your POSB Baby Bonus Card, contact the POSB 24-Hour Customer Service Hotline at 1800-333-3333.
- Keep your POSB Baby Bonus Card safe and secure, as it is a valuable financial instrument.
- Monitor your Baby Bonus account balance regularly to ensure that the funds are being used as intended.
Conclusion
Activating your POSB Baby Bonus Card is a quick and easy process that will allow you to access the financial support provided by the government. By following the steps outlined in this guide, you can ensure that you are making the most of this valuable benefit for your family.
