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Dear Valued Customer,
Gain speed, efficiency and greater convenience by using digital collections! With digital collections you can have near real-time receipts of funds at your fingertips, giving you greater ease of reconciliation. The shortened number of receivable days also enables you to more effectively manage your working capital. Handling your collections digitally is also cost effective and hassle-free without the need to make physical trips to the branch. |
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In order to support your transition from manual payments to tap on the benefits of digital collections, DBS will continue to waive inward PayNow charges for another two years till 2025. |
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Over the years, DBS has absorbed the costs of cheque clearing by waiving charges on your cheque deposits. In line with Singapore’s vision for a cheque free smart nation by 2025, DBS will begin the levying charges for cheque deposits and over-the-counter transactions with effect from 1 August 2022:
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Cheque Deposit: S$0.75 per cheque Fee waived for first 2 cheques deposited every month till end Jan 2023.
Over-the-counter transactions*: S$5 per transaction Fee waived for first 5 OTC transactions every month till end Jan 2023.
*including but not limited to: cash withdrawal/deposits, cheque encashment, cheque book request and funds transfer.
PayNow Collection: Waived till Dec 2025 |
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Agility
Make instant payments and collections 24/7 |
Convenience
Make payments
and collections easily
using registered proxies
e.g. NRIC, Mobile Number, Company UEN
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Security
Reduce risks associated
with manual handling
of cheques
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More than 5.5 Million individuals and 330K businesses have registered for PayNow.
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| STEP 01 |
| Request for your beneficiaries' PayNow registered proxies. |
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| STEP 02 |
| Pay businesses or individuals by using PayNow registered proxies, i.e. UEN/ NRIC / mobile number. |
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| STEP 01 |
| Link your Company’s UEN to your bank account number. |
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| STEP 02 |
| Indicate your UEN or a generated PayNow QR code on your website, invoices or other online channels. |
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| STEP 03 |
| Receive notifications upon successful transactions. |
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| Click here for more details on DBS Corporate PayNow or download our Corporate PayNow guide. |
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Simply log in to DBS IDEAL, our internet banking platform, and transact online using FAST or PayNow. You can also register for Corporate PayNow and start collections immediately.
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Watch our #dbsbusinesshacks video here on how to pay now and get paid instantly!
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This is an automatically generated message. Please do not reply to this email. If you do not wish to receive future email updates from DBS SME Banking, please click here.
For further assistance or enquiries, please contact DBS BusinessCare at 1800 222 2200 or email us at [email protected]. To dial in from overseas, please call (65) 6222 2200.
Our operating hours are from 8:30am to 8:30pm Mon-Fri, excluding Public Holidays.
Terms & Conditions | Privacy Policy | Compliance with Tax Requirements
DBS Bank Ltd Co. Reg. No.: 196800306E May 2022 |
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