electronic collection

GIRO Collection

Better cash flow, faster payments

At a Glance
Collect payments from your customers quickly and conveniently with our GIRO Collection service.

Quick

Timely collection of your payments

Easy

Simple account reconciliation process

Secure

Protect against fraud with encryption features

Features & Benefits

Quicker payments

Shorter turnaround times means you receive payments quicker

Save money

Save more on low-volume transactions

collection

Prioritise collections

Choose to collect payments in the order of importance

task

Daily transaction reports

Monitor receivables with our simplified account reconciliation process

security

Fraud protection

Benefit from our safe and secure hash total and encryption features

How to Apply

Please contact us at:

  • 1800 222 2200 (if you are in Singapore)
  • +65 6222 2200 (if overseas)

Not a DBS SME Banking customer?
Apply online now. Enjoy free DBS IDEAL access and fee waivers. T&Cs apply.

FAQs
Why should I receive payments via GIRO?

GIRO is a secure and convenient way to receive payments from your customers. It saves time as you don’t have to wait for your cheque. You can also receive GIRO payments from your customers through Online Direct Debit Authorisation (DDA).

Is there a faster way to collect payments from my customers?

Yes, there is. We offer Online Direct Debit Authorisation (DDA) via iBanking, AXS Stations and NETS terminals for all DBS and POSB account holders. You will receive a daily report with details of all successful DDAs. This eliminates paperwork and reduces turnaround time, so you can collect payments more quickly.

What if my customer has insufficient funds?

If there are insufficient funds in your customer’s bank account, the GIRO collection will fail. No funds will be deducted from your customer’s bank account. We will inform you of any failed collection in your next report so you can follow up with the customer.

Can my customer set a limit on their GIRO deductions?

Yes, your customers can set a limit on their GIRO. However, if the bill amount is higher than the limit, no deduction will be made. An alternative payment method will need to be arranged.

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