Why should i provide my transaction pin to car dealer?

General 30/04/2017 107 Views

2 Answers

Admin

From 26 November 2018 onwards, the Land Transport Authority (LTA) will be doing away with Transactions Pins (TPINs) for the following LTA vehicle-related transactions: Transfer of Vehicle Ownership, Transfer of TCOE, Transfer of Rebate, and the Deregistration of Vehicle.

Now, instead of the TPIN, vehicle owners and businesses will need to use their SingPass/CorpPass 2FA to confirm and complete these transactions.

Transfer of Vehicle Ownership
Seller (Vehicle Owner) Transfers Vehicle to Buyer (Next Owner)

1. Seller to log into One Motoring account (via SingPass).
2. Seller to use the ‘Apply to Transfer’ function to initiate vehicle transfer to Buyer.
3. Upon submission, an SMS will be sent to the Seller to notify them of the transaction. The Seller can still cancel the transaction before the Buyer accepts the transfer.
4. An SMS will also be sent to the Buyer to notify them of the transaction.
5. The Buyer can then log into One Motoring (via SingPass) to confirm or reject the vehicle transfer within the next 5 calendar days.
6. If the vehicle transfer is successful, a confirmation SMS will be sent to both Seller and Buyer.

www.motorist.sg/article/310/lta-singpass-vehicle-transfer-and-deregistration-a-step-by-step-guide

Above is a comprehensive step-by-step article on how to perform LTA vehicle-related transactions with your SingPass/CorpPass.

0 Upvote Downvote Reply 4 months ago

Providing the Transaction PIN to the motor dealer/ESA signifies the owner’s consent to and authorisation of the transfer of vehicle registration. With only the Transaction PIN, the ESA can immediately transfer the vehicle registration. Hence, it is important for the registered owner to keep the Transaction PIN confidential and not divulge it to anyone (including the motor dealer or ESA) until the registered owner is ready to effect the transfer of vehicle registration.

1. Duly completed and signed transfer form (with company stamp, if the vehicle is company-registered)
2. Identification documents of the registered owner and buyer for verification by the ESA.

0 Upvote Downvote Reply almost 2 years ago