Why should I receive payments via GIRO?

GIRO is a secure and convenient way to receive customer payments. It helps reduce cheque handling and supports faster collection through options such as Online Direct Debit Authorisation.

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

Yes. DBS offers Online Direct Debit Authorisation through channels such as iBanking, AXS Stations and NETS terminals for DBS and POSB account holders. A daily report is provided for successful direct debit authorisations, helping reduce paperwork and turnaround time.

What if my customer has insufficient funds?

If there are insufficient funds in the customer's bank account, the GIRO collection will fail and no funds will be deducted. DBS will inform your business of failed collections in the next report so you can follow up with the customer.

Can my customer set a limit on their GIRO deductions?

Yes. Customers can set a limit on their GIRO deductions. If the bill amount is higher than the limit, no deduction will be made and an alternative payment method will need to be arranged.

Simplify Collections with DBS GIRO

GIRO Collection

Better cash flow, faster payments

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

DBS GIRO Collection - Simple account reconciliation

Easy

Simple account reconciliation process

Secure

Protect against fraud with encryption features

Features & Benefits

Quicker payments

Shorter turnaround times means you receive payments quicker

DBS GIRO Collection - Save cost on low-volume transactions

Save money

Save more on low-volume transactions

Prioritise collections

Choose to collect payments in the order of importance

Daily transaction reports

Monitor receivables with our simplified account reconciliation process

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)

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Download PDF

GIRO Collection Factsheet

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.