With effect from 1 September 2021, Vantage Automotive will say goodbye to old ways and go CASHLESS!
Read on for the list of accepted cashless payment methods and FAQs.
Cessation of Cash Payment* Frequently Asked Questions (FAQs)
1. What does it mean by “Cashless Payment”?
With effect from 1st September 2021, franchises under Vantage Automotive Limited will no longer accept denominations of currency in notes and/or coins as payment. The entities under this umbrella include AutoFrance, E-Auto, Regent Motors, and Vantage Pre-Owned.
This is in line with the company’s digitalisation efforts to increase efficiency, following the Monetary Authority of Singapore’s (MAS) push for the greater adoption of e-payment among individuals and businesses to support safe distancing.
2. What are the other payment methods available?
We have multiple cashless payment modes available including –Bank Transfer^, NETS, PayNow*^ and Credit Card (Visa and Master).
For those who drop off and collect cars on behalf of the registered owners, payment can be made through the same cashless payment methods listed above.
*Changes in acceptance of payment modes for Vantage Automotive Limited and all its entities are in accordance with Monetary Authority of Singapore (MAS) Currency Act.
^Bank Transfer Details
Business Name: Vantage Automotive Limited
Bank: Citibank N.A Singapore
Bank code: 7214
Current account no.: 0-853128-007
*^PayNow Details
Business Name: Vantage Automotive Limited
UEN no.:192600045M
Paynow transfer limit is up to $200,000 per transfer and subject to your daily local transfer limit. Payee must have a PayNow Profile for the transfer to be completed. Transfers are immediate.
3. Can I choose to continue using cash as payment if my previous purchase was paid for in cash?
Unfortunately, you will not be able to as we will no longer accept denominations of currency in notes and/or coins as payment from 1st September 2021.
Notifications have been sent out on 1 July 2021 with reminders planned for August and September. Notices are also being displayed at all cashier and customer service counters in the Vantage Automotive Centre.
4. Can I get a refund if I do not wish to continue payment via cashless payment methods?
If you wish to make a refund from 1st September 2021, it will be processed through cashless modes, e.g. GIRO Bank transfer or credit card refund. Refunds will be processed within two (2) weeks.
We no longer issue cheque payments due to the phasing out of cheque payments by 2025 in accordance to MAS regulations.
*Changes in acceptance of payment modes for Vantage Automotive Limited and all its entities are in accordance with Monetary Authority of Singapore (MAS) Currency Act.
5. If I have made payment before 1 Jul 2021 via cashless payment methods, can I switch to cash payment?
If you have made payment via cashless payment methods before 1 Jul 2021, you will not be allowed to switch your payment mode to cash as written notice was provisioned by 1 July 2021.
6. If I prefer making payment in person, will I be able to do so?
Cashless payment modes are available both online and across our showrooms, so you can choose to make payment in-person or online.
We have multiple cashless payment modes available including – Bank Transfer^, NETS, PayNow*^ and Credit Card (Visa, Masters, Google/Apple Pay and PayWave).
For those who drop off and collect cars on behalf of the registered owners, payment can be made through the same cashless payment methods listed above. *Changes in acceptance of payment modes for Vantage Automotive Limited and all its entities are in accordance with Monetary Authority of Singapore (MAS) Currency Act.
