Application for IBF Portal Log-in Account / IBF Membership

Before you begin

Please read through the following carefully before completing the application

Section I. Important Notice for Account Opening

1.

The purpose of this application is for organisations to create a Corporate Login Account on the IBF Portal and for the organisation to authorise Management Representatives to manage the account.

2.

Only 1 account may be created per entity. The entity would be identified through the Unique Entity Number (“UEN”), which is the ACRA’s Registry of Companies (ROC) number of the entity.

3.

The Management Representative(s) appointed is a member of the management with a designation of Department Head and above.

4.

In appointing the Management Representatives, I am aware that they would be assigned with the following rights within the IBF Portal:

(i) Access to all organisation and staff records across all IBF e-Services on the Portal;
(ii) Ability to create and manage organisation details (including bank account details);
(iii) Ability to appoint and remove module Administrators to manage the respective modules within the system;
(iv) Access to all system notifications between IBF and the Administrators.
5.

There should be 2 Management Representatives appointed at all times to ensure check and balance. The CEO may appoint himself as one of the Management Representative.

6.

This form has to be duly completed and officially signed off by the Chief Executive Officer (or equivalent) of the organisation, with the organisation stamp affixed.

7.

If your entity is using this account for the purpose of submitting company-sponsored claims, you will also be required to submit the Direct Credit Authorization Giro form.

8.

For the application to be complete and valid, (i) details on this form has to be submitted online through the IBF website at www.ibf.org.sg and (ii) the original hardcopies of the duly signed Application for IBF Portal Log-in Account / IBF Membership and Direct Credit Authorisation (Giro) forms (where applicable) have to be mailed to the following address:

The Institute of Banking and Finance
10 Shenton Way, MAS Building
#13-07/08, Singapore 079117
Attn: Account Opening
9.

Submission of the application form does not constitute a successful application. IBF would notify the CEO and the Management Representatives upon successful application and a link would be provided for the Management Representative to activate the account on behalf of the entity.

10.

The Applicant shall ensure that the documents and information submitted are true, accurate and complete. IBF may request for additional information to support its evaluation of the application.

Section II. Important Notice about IBF Membership

1.

Eligibility

IBF Membership is open to all MAS licensed financial institutions, industry associations and firms providing professional services to financial industry in Singapore.

2.

Membership Fees Structure

Membership subscription consists of 2 components:
(I) One-time funding contribution
(II) Annual membership fee

I.

Funding Contribution

The one-time funding contribution is applicable to new members only. It shall be refundable when the membership fees is terminated or cancelled.

Tiers Staff Strength One-Time Funding Contribution
Tier 1 1 – 50 S$ 3,000
Tier 2 51 – 500 S$ 7,000
Tier 3 501 – 2000 S$ 12,000
Tier 4 2001 – 4000 S$ 16,000
Tier 5 > 4000 S$ 20,000
II.

Annual Membership Fees

Annual membership fees will be determined based on your entity’s staff strength. Member Company is expected to declare and update staff strength annually during membership renewal.

Please note that annual membership fees will not be pro-rated or refundable at any point.

Tiers Staff Strength Annual Membership Fees
Tier 1 1 – 50 S$ 1,000
Tier 2 51 – 500 S$ 3,000
Tier 3 501 – 2000 S$ 5,000
Tier 4 2001 – 4000 S$ 6,000
Tier 5 > 4000 S$ 8,000
3.

Members’ Rights and Obligation

Every IBF Member shall have the right to attend and vote at the general meeting of IBF. Every IBF Member is also similarly obligated to contribute to the assets of IBF and in the event of IBF being wound up, any funding contribution shall be used for the payment of the debts and liabilities of IBF. Such contribution shall not exceed S$ 1,000.

4.

Renewal of Membership

Annual membership fees will be due for payment from the period of 1 Oct – 31 Dec of every calendar year.

Membership benefits will cease in the event that IBF does not receive the annual membership fees by 31 Dec of each calendar year.

5.

Membership Benefits

The IBF Membership gives you privileges and exclusive benefits for our services and offerings.

To find out more, please refer to IBF Website - Membership for the latest IBF Membership benefits.

Please note that membership benefits are not transferable. IBF reserves the right to alter the IBF Membership benefits without notice.

To apply for IBF Member now, please proceed to section 1 below.