- UOB Direct Debit is a timely and flexible collection arrangement that helps you take greater control of your billing cycle.
- It debits your customers’ accounts with any participating banks in Singapore, so you can collect payments electronically
- Debit instructions can be submitted via UOB Infinity, Host-to-Host connectivity, or UOB APIs for high volume transfers.
- Upon receiving your instructions, the bank will debit your customers’ accounts on the date specified by you, and you will be credited on the next business day
- Improve cash flow management with greater control over payment dates, payment amounts and billing cycles
- Strengthen relationships with your customers by providing them with a paperless and cashless payment alternative
- Save time and effort by reducing administrative and manual processes involved with cheque and cash collection
- Enjoy peace of mind with prompt and secure collections
- Enjoy ease of reconciliation of your accounts receivables with detailed reports on successful and rejected collections