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