Domestic Funds Transfers

GIRO Payment

Transfer funds to any bank in Singapore quickly

Ensure faster payments, reduce your operating costs and simplify your account reconciliation process with DBS GIRO Payment. Transfer funds to any bank in Singapore through IDEAL™, our online banking platform, to enjoy competitive pricing and the latest cut-off time for submission in Singapore.

 

Why choose DBS GIRO Payment?

  • Enjoy the latest cut-off time for submission in Singapore
  • Improve your cash flow with our timely transaction processing
  • Save time and money by eliminating the need to issue cheques
  • Monitor expenditure with our daily transaction reports and simplified account reconciliation process
  • Create multiple transactions in one file for greater convenience
  • Protect against fraud with our safe and secure hash total and encryption features
  • Benefit from our value-added service where we advise your beneficiaries once the funds have been paid

FAQs

Why should I make payments via GIRO?

GIRO offers a secure and convenient way to pay your employees. You can save time and money by removing the need to carry large amounts of cash or issuing cheques on payday. We also offer preferential benefits such as extended cut-off times when you pay to DBS or POSB account holders.

Will DBS generate a transaction advice?

Yes, DBS does provide this add-on service. Once a GIRO payment is successfully processed, the receiving party will be sent a transaction advice by email, mail, registered mail, overseas mail or courier.

I currently use another bank for GIRO payment and import my file into their Internet banking platform. Will system changes be required if I switch to DBS?

The file formats used by IDEAL™ are supported by most account payables packages, so it is unlikely system changes will be required.

If I realise there’s an error in my payroll instructions after I've submitted them to the bank, can I amend the payment?

For security reasons, DBS does not allow you to make amendments to payment instructions once they have been filed. However, you can stop the payment from being made and make alternative arrangements with your beneficiary or submit a new file containing the correct information.

 

How do I apply?

Simply call us at 1800 222 2200, or +65 6222 2200 if you are calling from overseas to apply. Alternatively, please speak with your relationship manager.

Not a DBS SME Banking customer? Enjoy IDEALTM set-up and monthly fee waivers* by starting your DBS Business Account application online. This service is available to Sole Proprietorships, Partnerships, Limited Liability Partnerships and Private/Limited Companies.
*Terms & Conditions apply

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No Minimum Balance Requirement

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"The solution greatly improved our efficiency in managing daily cash operations and projections."
Mr Damien Lim
Mr Damien LimHead of Business Development

Knowledge Universe Pte Ltd

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