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A guide on eGIRO direct debit setup
A guide on eGIRO direct debit setup
K
Written by Kasturi
Updated this week

We have implemented eGIRO Direct Debit as a new payment method on Multiplier for our clients in Singapore. It will allow Multiplier to automatically withdraw funds from your authorised bank account on a pre-agreed date, upon your approval.

Table of content:

What is eGiro?

eGIRO direct debit is a digital payment system in Singapore that digitises the traditional GIRO process for collecting recurring payments. It will enable our clients in Singapore to authorize payments to Multiplier via their internet banking platform online, significantly reducing the setup time from weeks to just a few minutes.

For FAQs related to eGiro, refer to this article.

Prerequisites

  • Clients must have billing currency as SGD (Singapore dollars)

  • Clients must hold an account with one of the participating banks that support eGIRO.

Here’s the list of participating banks:

  1. DBS Bank

  2. Maybank

  3. OCBC Bank

  4. Bank of China

  5. UOB (United Overseas Bank)

  6. MariBank

eGiro direct debit set up

To start using eGIRO direct debit for invoice payments, you will need to initiate the setup process as guided below:

Step 1: On the left sidebar, navigate to the Settings>Company settings>Payment settings. Click on ‘Setup’

Step 2: Select your bank from the drop down.

Step 3: Fill all the details, upload the verification documents and click on ‘Continue’

Step 4: Once you have read the terms and conditions carefully, check the box and click on ‘Continue’

Step 5: Once you click on ‘Yes, authenticate’ you will be redirected to your bank’s internet banking page.

Step 6: Once you are on your bank’s net banking page:

  1. Login to your net banking

  2. Provide consent to use the account for eDDA deduction

  3. Request your business checker to approve the eDDA application within 48hrs

Step 7: Remind your business checker to approve the eDDA application. Until then you will see the status on the portal says ‘Pending on business checker’

Step 8: Once your business checker has approved the eDDA application, the status will change to ‘Available for payment’

eGIRO payments

Once eGIRO is set up for your company and direct debit is enabled you will receive an email intimation from Multiplier for your upcoming automatic debit 5 days prior to the invoice due date. In the email, you can find the total amount, bundle ID, and auto-debit date.

The payment will be initiated on the specified auto-debit date, i.e, 2 days before the invoice due date. Settlement between banks takes 1 business day after auto debit is initiated.

In other words, if 7th April is the invoice due date, watch out for the following:

3rd April

Email notification about upcoming payment

3rd April -5th April

Period to review invoices

6th April

Auto debit will be initiated

7th April

Payment will be settled within 1 business day.

Note: If the auto debit had been initiated on April 4th (Friday), the payment would have still been settled on April 7th (1 business day).

Step 1: On the navigation bar, go to ‘Invoice payment’, select the invoices you want to pay and click on ‘Pay now’

Step 2: Click on 'Proceed to checkout'

Step 3: Select eGIRO as the payment method and click on ‘Continue’

Step 3: Confirm bundling the invoices for payment by clicking on ‘Proceed to checkout’

Step 4: Click on ‘Continue’

Step 5: Click on ‘Confirm and pay’ to initiate direct debit.

Additional documents:

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