Singapore (SG_EGIRO_DEBIT)

Amounts less than or equal to 200,000 SGD settle 24/7 in real-time via the FAST clearing system.

Amounts greater than 200,000 SGD goes through the GIRO network and takes 2-3 business days to settle, depending on the submission time as indicated below.

The title should clearly inform your customers that they are linking an external bank account to set up direct debit.

You must ask the external bank account owner (or display their previously entered):

• Bank account name
• Bank account number
• Bank SWIFT code
• Bank account owner email address
• Identification type and number (Your customers should be informed that this needs to be the same identification information that was used for registration with the external bank)

Your customers should be given a prompt to confirm that their bank account details are correct before submitting the Linked Bank Account.

The following text must be displayed:

By proceeding with the eGIRO arrangement, you authorize Airwallex (Singapore) Pte. Ltd (“Airwallex”), with its registered office at 1 Wallich St, #20-01 Guoco Tower, Singapore 078881, to debit the bank account specified above through eGIRO for any amount owed for charges arising from your use of the Airwallex Platform and/or pursuant to our terms, and, if necessary, to electronically credit your bank account to correct erroneous debits.

You are entitled to reject Airwallex’s debit instruction if your account does not have sufficient funds, and you authorize Airwallex to charge you a fee if this occurs. Airwallex may, in its discretion, debit your account even if this results in an overdraft. This authorization will remain in force until revoked.

You confirm that you have the authority to link the nominated account.

After your customer has submitted the Linked Bank Account details, you should redirect them to the URL provided in Generate Linked Account authentication. Your customers are required to log into their respective bank sites and agree to the eGIRO arrangement via the redirect URL.

The banks’ eGIRO setup pages gives your customers the option to set per-transaction limits on direct debit deposits and an expiration date. You are recommended to communicate to your customers that insufficient limits and expiration may impact their experience using your services. The limit/expiration parameters may only be changed by creating a new mandate, through unlinking and relinking the external bank account.

It is recommended that you provide a confirmation page to your customers at the end of the process to inform them that direct debit has been successfully set up for the Linked Bank Account.

If the external bank account’s authorization process was not immediately completed, you should inform your connected account customer that Direct Debit will be activated upon completion of the external bank account’s authorization flow.

Referring to Linked Account requirements for direct debit, both BUSINESS and INDIVIDUAL Linked Account types are supported for eGIRO direct debit in Singapore.

Open Banking is the available verification method, please follow the instructions in Get an open banking authentication token.

Please note that the reference field can only accept alphanumeric characters in all caps without spacing, up to 35 characters long.

Before creating a direct debit deposit, please ensure that you have a sufficient funding limit by checking your available funding limit.

Next, follow the instructions outlined in Create a direct debit deposit. Please note that eGIRO direct debit in Singapore does not support direct debit deposit reference. Instead, a reference, up to 35 characters, must be provided at the mandate level when Creating an Open Banking authentication token API, which will apply to all direct debit deposits initiated from this Linked Account.