A new nationwide eGiro service that cuts the time taken to process Giro applications from weeks to just minutes was launched yesterday.
Instead of filling in paper application forms and mailing them, the fully digital service allows users to set up their automatic monthly payment instructions online, the Association of Banks in Singapore (ABS) said. It was announced yesterday morning by Deputy Prime Minister Heng Swee Keat at the Singapore FinTech Festival x Singapore Week of Innovation and Technology 2021.
Introduced in 1984, Giro is an electronic direct debit system for recurring bill payments from bank accounts.
Currently, when people apply to set up a Giro arrangement, they have to manually fill in paper forms and mail them to their billing organisation, which processes the applications and sends them to the bank.
This story is from the November 09, 2021 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 09, 2021 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
‘NEVER-ENDING’ SUCCESS FOR TAN
S’porean adds cup to league title, Dortmund keen to retain her services for next season
BOSTON PUT PAST BEHIND TO PROGRESS
Celtics take revenge on Heat with big win to book place in 2nd round of NBA play-offs
TAN THE MAN AT BARRIER TRIALS
Low-profile trainer makes presence felt with Single Warrior, Big Union at morning hit-outs
DBS starts the year strong as Ql profit hits new high of $2.95b
Its fee income gets boost from stronger market sentiment, higher card spending
Fed keeps rates at 23-year high amid stubborn price rises
US central bank cites lack of further progress’ towards its 2% inflation target
South Korea’s inflation slows more than expected in April
But weakening won poses challenge to policymakers’ efforts to cool price growth
Qualcomm gives upbeat sales forecast In sign of smartphone recovery
China remains crucial amid sales surge to its phone-makers in first half of fiscal year
Driver in crash that killed prof was checking GPS on phone
He says he was in a state of panic when he told police officer he had fallen asleep at the wheel
Agencies hold joint counter-terrorism exercise
A joint counter-terrorism exercise by various government agencies was held on April 30 and May 1 to test the Republic's preparedness in the event of a terror attack, the police said on May 2.
Five-year-old is youngest S'porean to reach Everest Base Camp
Pre-schooler makes trek to camp situated at altitude of 5,364m in Nepal with his father