• Initiate hassle-free paymentsInitiate hassle-free payments

    Initiate payments seamlessly

    Whether you are looking to make local or cross-border payments, we have specialised services to cater to your needs. With UOB’s payment suite, you can initiate hassle-free payments efficiently, to anywhere in the world. Let us help you simplify your accounts payables process while you focus on managing your business.

Interbank GIRO

What customers say about GIRO

  • I can make payments to my suppliers regardless of their bank
  • GIRO is useful for making one-time payments to ad-hoc suppliers or contractors
  • It’s so convenient that I can make payments to multiple recipients at one go

About GIRO

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How do I make a GIRO transfer?

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  • GIRO is the most cost-efficient way to make non-urgent SGD payments
  • With no prior form set-up required, you can easily make one-time payments to accounts of other participating banks
  • Payments typically take up to 2 business days to be credited

You can initiate GIRO transfers conveniently using Business Internet Banking Plus, or Host-to-Host connectivity for high volume transfers

  • Reduce operational costs by eliminating cash and cheque payments
  • Enjoy peace of mind with certainty of successful payments

How is GIRO applicable to real businesses?

Company A issues 100 cheques a month. As the business grows, this payment method poses as a drag on expansion as it is tedious, and requires more headcount to prepare and monitor the transactions. GIRO is an easy option for the company as it is scalable when both business and payment volume grow.

Company B issues cheques to many ad-hoc suppliers i.e. stationery suppliers, packaging materials suppliers. They face repeated challenges such as loss of cheques, cheques not being presented and returned cheques due to irregular signatures. The company frequently incurs charges for stopping or replacing the cheques. By using GIRO, these challenges are resolved as operational costs are reduced, and there is no more need to address the status of the cheques.

Company C needs to maintain a minimum amount in their bank account to honor payments. With GIRO, Company C has greater certainty over when the monies will be deducted from their account.

Fast And Secure Transfers (FAST)

What customers say about FAST

  • It’s so convenient that I can pay instantly, any day, any time
  • This is especially useful when I have to make urgent payments
  • I get immediate confirmation upon successful payment

About FAST

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How do I make a FAST payment

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FAST is an electronic funds transfer service that enables customers to transfer up to S$50,000 almost instantaneously, 24 x 7.

You can initiate FAST payments conveniently using Business Internet Banking Plus or Host-to-Host connectivity

  • Save time with secure and real-time transfers
  • Enjoy the convenience of making payments any time, any day, 24 x 7
  • Receive instant confirmation that you have paid for greater peace of mind

How is FAST applicable to businesses?

  1. Company D is an online platform that settles payments with its suppliers upon demand or confirmation of sales. Its suppliers also expect payments to be made on the same day. FAST enables them to make timely and immediate payments to accommodate their suppliers’ request.
  2. Company E often receives goods late because its supplier only releases goods upon receipt of full payment. FAST allows the supplier to receive funds immediately so that Company E can receive the goods on time.

UOB Payroll Service

What customers say about UOB Payroll Service

  • I can pay all my staff regardless of the bank they use
  • It’s so easy, it didn’t take me long to learn how to create a payroll transaction
  • I can pay employees’ reimbursements regardless of amount, any time

About UOB Payroll Service

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How do I utilise the payroll service?

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UOB Payroll Service helps you streamline your payroll management, enabling you to make payments to your employees in a hassle-free and cost-effective manner

  • You can generate your bulk payroll file using an online template available on BIBPlus, an offline UOB software, or a third-party vendor software
  • Once the payroll file is generated and uploaded, authorised signatory simply approves on BIBPlus. The full amount will be credited into your employees’ accounts within 1-2 business days
  • Keep your employees happy by paying them on time
  • Pay your employees in accordance to MOM requirements
  • Restrict payroll access rights to authorised personnel only for greater peace of mind
  • Speed up approval process to ensure faster turn-around times with batch authorisations
  • Enhance control and reduce operational costs by eliminating cash and cheque payments
  • Enjoy greater visibility when you see the confidential, lump-sum debited amount on your bank statement

How is UOB Payroll Service applicable to businesses?

Company G is an SME that issues 50 cheques a month for payroll. As the business grows, and the company is required to issue 500 payroll cheques, this payment method requires additional headcount, given the extra time needed to prepare salary payments. Converting payroll and reimbursement to GIRO, the company easily manage its payroll payments without additional resource.

Company H is currently using a payroll software to track its employee’s leave, CPF contributions, etc. Payroll payments have been problematic because the company manually prepares the payroll transactions on internet banking. With UOB Payroll Service, the company can better manage its payroll by using the payroll file retrieved from their payroll software, and directly uploading it to UOB for processing.

MAS Electronic Payment System (MEPS)

What customers say about MEPS

  • It’s the fastest way for me to make a large payment and ensuring that the payment is received on the same day
  • I can settle my payment of any amount immediately to all banks in Singapore
  • If my payment is less than $50,000, I use FAST. If my payment is more than $50,000, MEPS is the best payment mode

About MEPS

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How do I make a MEPS transfer?

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  • MEPS is a real-time gross settlement system developed for Singapore dollar interbank funds transfers
  • The main feature of MEPS is that there is no limit to the amount of funds you can transfer (i.e. minimum of SGD 1 and no maximum amount)

You can make a MEPS transfer electronically via Business Internet Banking Plus or Host-to-Host connectivity

  • Save time by making same-day transfers with no transaction limits
  • Reduce operational costs by eliminating cash and cheque payments
  • Strengthen relationships with your beneficiaries by notifying them of successful payments via the Beneficiary Advice sent by the bank
  • Enjoy greater convenience with single and bulk payment options

How is MEPS applicable to businesses?

Company E is a hedge fund. Every quarter, Company E needs to make multiple, large value dividend payments to investors in a timely manner. Using MEPS, the company can ensure that payments are received on the same day.

Telegraphic Transfers (TT)

What customers say about TT

  • I can easily pay my overseas suppliers in foreign currency without going to a bank branch
  • It keeps my foreign workers happy that I can pay part of their salary to their family back home in their currency

How do I make an overseas TT?

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Telegraphic Transfer (TT) is an efficient and secure way of sending electronic payments in over 100 remittance currencies to your beneficiaries overseas.

  • You can make a TT transfers electronically, via Business Internet Banking Plus or Host-to-Host connectivity. You may also submit a TT application form at the branch
  • MT103 copy is available for immediate retrieval via BIBPlus once the bank has processed the payment
  • For more information, please read our FAQ (Outward Remittances)
  • Tap on our extensive network and send payments to any part of the world in various currencies
  • Enjoy peace of mind when both you and your beneficiaries get notified by the bank of successful payments
  • Enjoy greater convenience with single and bulk payment options

How is Telegraphic Transfers applicable to businesses?

Company F is a trading company and buys its goods from around the world in many currencies (USD, CNY, etc). Telegraphic transfer allows the company to pay its suppliers promptly in different currencies.

Company K is a shipping company with employees deployed in different countries. It pays its employees their salary via telegraphic transfers. By transacting online, the company saves 50% on its transaction cost, substantially reducing operational cost.

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