paynow paynow

From 1 August 2019 to 31 January 2020, enjoy rebates for up to 30 FAST or PayNow transactions every month when you use digital payments on DBS IDEAL.

Digital payments made via FAST or PayNow offer businesses greater agility, convenience and security; helping you manage your working capital better. Instead of issuing cheques, take advantage of the instant capabilities of FAST that is available 24/7, as well as the convenience of making payment to PayNow registered proxies i.e. Company UEN or NRIC or mobile number.

With effect from 1 September 2019, cheque fees of S$0.75 will apply from the first cheque issued every month. So, switch to digital payments and enjoy rebates for your first 30 FAST or PayNow transactions per month*.

  New Pricing Current Pricing
FAST / PayNow 30 free transactions every month* (from Aug 2019 to Jan 2020)
S$0.50 per transaction thereafter
S$0.50 per transaction
Cheque S$0.75 per cheque (from Sep 2019) 30 free cheques every month S$0.75 per cheque thereafter
* Rebates will be credited to your bank account at end of the 6-month promotion. Terms and conditions apply.
 

Switching from Cheques to digital payments

Choose from a wide range of digital payment modes for these purposes:
Supplier and vendor payments
secure

Use any of the following electronic payment modes available on DBS IDEAL:

Payroll and Commission
simple

Manage payroll with our innovative packages under the Start Digital Programme

Provide banking privileges for your employees with DBS Workplace banking packages

Use Giro Payroll on IDEAL.

Tax and Utility payments
seamless

Set up recurring Bill payments using DBS Commercial Cards, or use Bill Payment on DBS IDEAL.

Why you should #ChequeLess?

Cheques have a cost
seamless
The cost to use Cheques includes transaction fees as well as administrative overheads to issue, track and reconcile the transaction.
Cheques take time
seamless
The transaction settlement is not immediate. Cheques deposited with the banks typically takes 2 days to process.
Cheques are inconvenient
seamless
Instances of damaged cheques, incorrect signatures can result in delayed settlement of cheque transactions, hindering cash flow management for businesses.

Start using Digital Payments today

Simply log in to DBS IDEAL, our internet banking platform and start using FAST or PayNow for payments.

DBS IDEAL also offers the following benefits:
  1. Accessibility to your bank accounts anytime, anywhere via DBS IDEAL Mobile app,
  2. Time-savings through saved templates for repetitive payments and an intuitive payment’s user interface,
  3. Hassle-free reconciliation through a variety of account and transaction reports,
  4. Automated Alerts and reminders across key banking activities.

Enjoy the benefits of Digital Collection solutions too!

Receive payments efficiently through the following digital collection solutions.
receive
STEP 1
Simply link your Company’s UEN to your DBS bank account number
STEP 2
Indicate your UEN, or a generated PayNow QR on your website, invoices or online channels for your beneficiaries to pay you.
 
pay
STEP 1
Register and download the DBS MAX app.
STEP 2
Track and reconcile payments made to your merchant QR code instantly.
STEP 3
Get consolidated funds into your bank accounts at the end of day.

Switch to digital payments with DBS IDEAL

For more information, please contact DBS BusinessCare at 1800 2222200 or email us at BusinessCareSG@dbs.com