According to information released by the Employees Provident Fund Board (KWSP), members can receive EPF Special Withdrawal payments through their bank accounts, while those without a bank account can receive payments by way of Arahan Bayaran (PO).
Those without a bank account can choose to receive Arahan Bayaran when applying for a Special Withdrawal, however, it is important to note that the Arahan Bayaran method can be cumbersome and time consuming.
Members will need to collect their Arahan Bayaran notes from the EPF Board counter before they can cash them in at one of the banks.
Members who have a bank account are requested to provide valid bank account details when applying. A valid bank account includes an active (active) bank account and must be in one’s own name and not in someone else’s name or a joint account. The bank account provided by the member must also be an individual account and not a company account.
Applications for the EPF Special Withdrawal Scheme will commence on 1st April and members can withdraw up to RM10,000.
