1. What is eGIRO?

eGIRO stands for electronic GIRO. It is a nationwide initiative that digitises the GIRO application process with an aim of significantly reducing the turnaround time. This is a joint initiative by The Association of Banks in Singapore (ABS), Monetary Authority of Singapore (MAS) and Participating Banks.

2. How does eGIRO work?

Instead of submitting hardcopy GIRO forms to billing organisations, applicants can now apply for GIRO via the billing organisation's website or application* to set up GIRO in minutes. Applicants simply specify the designated bank for the payment and are redirected to their bank’s internet banking login page.

At the bank’s internet banking login page, applicants log in with their user ID and password and select their bank account for submission. Applicants will subsequently receive a confirmation that the application is successful.

*eGIRO via an App interface will be supported by the industry at a later phase.

3. How has the turnaround time been adjusted from hardcopy GIRO application to eGIRO?

The current hardcopy GIRO application process takes 3-4 weeks to complete. With the new eGIRO process, the turnaround time is reduced to just minutes for a consumer and less than 48 hours for a corporate organisation with approvers.

4. Who are the eGIRO participating banks?

At launch, 8 participating banks* will be taking part in eGIRO: Bank of China, DBS Bank/POSB, The Hongkong and Shanghai Banking Corporation Limited, Industrial and Commercial Bank of China, Maybank, OCBC Bank, Standard Chartered Bank and UOB.

Find out more from The Association of Banks in Singapore.

*Citibank will be joining in January 2022.

5. Will eGIRO replace hardcopy GIRO forms?

No. eGIRO is currently not replacing hardcopy GIRO forms. Hardcopy GIRO form submission will still be available to billing organisations and applicants.

6. Will eGIRO impact hardcopy submissions or existing GIRO arrangements?

No. Existing GIRO arrangements or new setups via hardcopy forms will not need to be migrated and will continue to be valid.

7. What are the measures in place to safeguard my data during eGIRO set up?

There are stringent security measures in place to safeguard personal data that passes through eGIRO. Data is encrypted. Only authorised banks and billing organisations can decrypt the data to execute the transactions. The authentication and authorisation process is underpinned by banks’ 2FA and Transaction Signing.

1. I wish to offer eGIRO to my customers. How do I indicate my interest and find out more?

Please contact your designated OCBC Relationship Manager or OCBC Global Transaction Banking Sales Manager.

Alternatively, you can register your interest.

1. How do I know if my billing organisation offers eGIRO?

Please reach out to your billing organisation to find out if they offer eGIRO.

Alternatively, find out more from the The Association of Banks in Singapore.

2. What are the prerequisites for me to apply for eGIRO?

1. Your billing organisation must be an eGIRO participating entity.
2. You should be an existing customer of the participating billing organisation.
3. To apply for eGIRO with OCBC, you need to have an OCBC Business Account (SGD) and OCBC Velocity access.

3. How do I apply for eGIRO?

1. Applicant (Maker) to access eGIRO registration page from the billing organisation’s website or application.
2. Select OCBC corporate bank.
3. Applicant (Maker) will be redirected to OCBC Velocity.
4. Log in to OCBC Velocity.
5. Select bank account and indicate payment limit and expiry date (optional).
6. Submit and authorise eGIRO. 
   

   Additional approval may be required from your OCBC Velocity Checker(s) depending on your OCBC Velocity setup.

7. Applicant will be notified once the billing organisation has processed the request successfully.

4. How do I cancel my eGIRO arrangement?

You may cancel your eGIRO arrangement:

• via the billing organisation’s website or application (if available); or
• via OCBC Velocity

eGIRO Cancellation via Billing Organisation Website or Application

1. Applicant (Maker) to access eGIRO cancellation page from the billing organisation’s website or application.
2. Applicant (Maker) will be redirected to OCBC Velocity.
3. Log in to OCBC Velocity.
4. Submit and authorise* eGIRO cancellation.
   

   *Additional approval may be required from your OCBC Velocity Checker(s) depending on your OCBC Velocity setup.

5. Applicant will be notified once the request is successful.

eGIRO Cancellation via OCBC Velocity

1. Applicant (Maker) to login to OCBC Velocity.
2. Go to “Tools” > “Manage eGIRO”.
3. Select eGIRO to be cancelled by clicking on “Terminate” (under Actions).
4. Submit and authorise* eGIRO cancellation.
   

   *Additional approval may be required from your OCBC Velocity Checker(s) depending on your OCBC Velocity setup.

5. Applicant will be notified once the request is successful.

5. How do I check my eGIRO application or cancellation status?

You can check the status of your eGIRO application or cancellation on OCBC Velocity.

1. Log in to OCBC Velocity.
2. Go to “Transactions” > “Transaction Status”.
3. Select “Maintenance” from the “Viewing” drop-down list.
4. Refer to the “Status” column for the respective “eGIRO” functions.

6. How do I use a billing organisation’s website/application to amend an existing eGIRO arrangement?

Currently, you will not be able to amend existing eGIRO instructions submitted via a billing organisation’s website or application.

Please initiate an eGIRO cancellation before submitting a new eGIRO application.

7. I do not bank with any of the eight participating banks. How can I utilise this initiative to complete an eGIRO setup process?

You will need to have a savings or current account with one of the participating banks to apply for eGIRO.