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.
OCBC eGIRO
eGIRO applications are now quick and easy
eGIRO is a nationwide service that fully digitalises the current paper-based GIRO application process.
The eGIRO service will process applications efficiently and securely within minutes, enabling consumers, businesses and billing organisations to set up their GIRO instructions in real time.
See how eGIRO works and its benefits to businesses and billing organisations.
Watch how it works
Say goodbye to:
- Long turnaround time of up to 4 weeks
- Manually intensive process with multiple handoffs
- Human errors
- Delay in the collection of funds
Greater Efficiency
- The manual paper-based GIRO application process is shortened from 3 - 4 weeks to just minutes1.
- Automated checking process reduces human error, ensuring consistency, compliance, and increased security.
- End-of-period settlement can be settled via FAST or GIRO.
- The manual paper-based GIRO application process is shortened from 3 - 4 weeks to just minutes1.
- Automated checking process reduces human error, ensuring consistency, compliance, and increased security.
- End-of-period settlement can be settled via FAST or GIRO.
Lower Cost, Faster Collections
- No waiting. Start collecting once eGIRO is setup.
- eGIRO collection is cheaper compared to other forms of collection such as cards.
- No waiting. Start collecting once eGIRO is setup.
- eGIRO collection is cheaper compared to other forms of collection such as cards.
Single Portal, Enhanced Visibility
- End to end visibility and tracking of your customer's eGIRO application.
- End to end visibility and tracking of your customer's eGIRO application.
Positive Customer Experience
- Apply anytime, anywhere. Simple and streamlined application in just minutes1.
- No need for manual entry of details such as billing reference number, bank account details etc. Simply select the preferred payment account from OCBC Velocity.
- eGIRO is free.
- Apply anytime, anywhere. Simple and streamlined application in just minutes1.
- No need for manual entry of details such as billing reference number, bank account details etc. Simply select the preferred payment account from OCBC Velocity.
- eGIRO is free.
Certainty of Payments
- Pay almost instantly once eGIRO is set up. Reduce missing payment deadlines.
- No need to make ad-hoc payment with no visibility on GIRO status.
- Pay almost instantly once eGIRO is set up. Reduce missing payment deadlines.
- No need to make ad-hoc payment with no visibility on GIRO status.
Usage for billing organisations
Regular collections
eGIRO is useful for payments to billing organisations such as public services, government agencies, insurance, wealth management and payment services.
Alternative way to collect
eGIRO can also be used for e-commerce marketplaces, e-Wallet top-ups, instant digital collections as well as "Buy-Now-Pay-Later" installment plans.
How to apply for eGIRO with us
- For Billing Organisations, contact OCBC Business Banking at +65 6538 1111 (Monday to Friday. Excluding public holidays from 8am - 8pm) or through our enquiry form
- For customers/business applicants of Billing Organisations, follow the steps below:
Before you apply
Eligibility requirements
To participate in eGIRO as a billing organisation
- Must be a OCBC corporate customer
- Must have a customer-facing website or application (eGIRO via an App interface will be supported by the industry at a later phase)
- Must have technical resources to develop their website/application and build a connectivity with the eGIRO Aggregator platform
To apply for eGIRO with a participating billing organisation
- Applicants should ensure that their billing organisation is an eGIRO participating entity
- Applicants should be an existing customer of the participating billing organisation
- Applicants should have an OCBC Business Account (SGD) and Velocity access
eGIRO processing time
1Time for approval
- Processing time is subject to time taken for the applicant to approve and submit the eGIRO request, and for the Billing organisation to send the eGIRO creation API to the applicant bank.
- Time taken for applicant to approve and submit the eGIRO request: Consumer applicants must submit the eGIRO application request within 10 mins. Business applicants must approve and submit the eGIRO applicant request within 48 hours. Otherwise, the request will lapse and applicant must initiate a new request via the Billing organisation’s website or application.
- Time taken for the Billing organisation to send the eGIRO creation API to the applicant bank: Some Billing organisations (such as the insurance industry) may take up to 2 weeks to assign a customer reference number and send the eGIRO creation API to the applicant bank.
Terms and conditions
Business account terms and conditions
Billing organisation and Applicants agree to the eGIRO T&Cs as listed in the business account terms and conditions
FAQs
General
More questions and answersWhat is eGIRO?
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.
For more information, please refer to https://www.abs.org.sg/.
*Citibank will be joining in Jan 2022
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.
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.
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 are underpinned by banks’ 2FA and Transaction Signing.
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
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 with approvers.
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, fill up the form below.
Our awards and accolades