Electronic Collections and Bill Payments

GIRO Collection

Improve your cash flow and streamline operational efficiencies

Improve your cash flow by collecting payments quickly, economically and conveniently when your customers hold an account with a participating bank. With DBS GIRO Collection services, you can better manage your receivables through our simplified account reconciliation process, and reduce the transaction cost of receivables processing.

 

Why choose DBS GIRO Collection?

  • Collect payments quickly when your customers hold an account with a participating bank
  • Receive payments quickly with DBS. We have the largest consumer base in Singapore
  • Save money spent on low-volume transactions
  • Prioritise collections in order of importance
  • Monitor receivables with our daily transaction reports and simplified account reconciliation process
  • Protect against fraud with our safe and secure hash total and encryption features

FAQs

Why should I receive payments via GIRO?

GIRO offers a secure and convenient way to receive payments from your customers. We reduce the amount of time it takes for you to receive funds by eliminating the need for cheques.

Are there any processes to be completed before collecting payments via GIRO?

Yes. A Direct Debit Authorisation (DDA) needs to be in place with your customer’s bank before collections can be made via GIRO.

Is there a faster way to start collecting payments from my customers?

We offer Online Direct Debit Authorisation (DDA) via iBanking, AXS Stations and NETS terminals for all DBS and POSB account holders. And we’ll send you a daily report detailing all successful DDAs, which helps eliminate paperwork and reduces the turnaround time so that you can start collecting payments more quickly.

If my customer has insufficient funds, will DBS collect up to the amount that is available?

If there are insufficient funds in your customer’s bank account, no funds will be deducted from your customer’s bank account. We’ll inform you about the unsuccessful GIRO collection in your next daily report so that you can follow up with the customer.

Can my customers set a limit on their GIRO deductions?

Yes, your customers can set a limit on their GIRO deductions. However, you will need to ensure they understand that should the bill amount be higher than the limit, no deduction will be made and an alternative payment method will need to be arranged.

 

How do I apply?

Simply visit any of our DBS or POSB branches or call us at 1800 222 2200 to apply.

Get In Touch

DBS BusinessCare 1800 222 2200

Get In Touch

DBS BusinessCare 1800 222 2200

Things to Note