Interbank GIRO
A hassle-free payment to billing organisations through one’s bank account
Interbank GIRO services allows one to set up automated payments and eliminate the hassle of juggling multiple payment systems, saving time and effort when collecting or making payments.
Benefits
Why Interbank GIRO?
One-time setup
Hassle-free payments or timely collections for recurring bills with a one-time setup.
Two ways to pay
Ad-Hoc
Make or receive one-time payments.
Recurring Collections
Automatically make or receive regular payments at a large network of banks and billing organisations
One-time setup
Hassle-free payments or timely collections for recurring bills with a one-time setup.
Two ways to pay
Ad-Hoc
Make or receive one-time payments.
Recurring Collections
Automatically make or receive regular payments at a large network of banks and billing organisations
Applications
Who can use Interbank GIRO?
Individuals
Retail customers can make a GIRO arrangement with a billing organisation to debit their designated bank account to pay bills on a regular basis. GIRO can facilitate easy payments for credit card bills, school fees, taxes, insurance premiums and more.
Businesses
Billing organisations can use GIRO for recurring collections to reduce administrative tasks. They can approach banks to set up direct debit authorisation facilities to facilitate the recurring collections of subscription fees, bills, premiums and rentals. GIRO can also be used by businesses to pay for recurring corporate expenses.
How to Manage
How does Interbank GIRO work?
Regular Payments
Sign up for Direct Debit Authorisation (DDA) through your Billing Organisations.
Collections and Ad-Hoc Payments
Simply approach your bank to set up direct debit authorisation facilities for your customers.
