GIRO lets you make monthly payment to the billing organisation from your bank account directly. Find out what it is, how it works and how to set it up.
Key takeaways
- With GIRO, your bill payment is automatically deducted from your bank account.
- Sign up for GIRO by completing a GIRO Direct Debit Authorisation form.
- Make sure your account has sufficient funds for the GIRO deduction; otherwise, a service fee may be charged.
What is GIRO?
GIRO is an arrangement with your bank to make payments directly to a billing organisation (BO) for any outstanding bills.
There are two common types of GIRO:
- GIRO direct debit allows a BO to debit your designated bank account to pay your bills on a regular basis.
- Some banks provide GIRO-on-demand services where you have to authorise each GIRO payment through the phone/internet.
How to sign up
You can sign up for GIRO by completing a GIRO Direct Debit Authorisation form. Some BOs will send you the form together with your monthly bill. You may also download a soft copy from your BO’s website.
Your GIRO application will take about 14 days. Your BO will advise you of the actual date when the first GIRO deduction will be made. Meanwhile, continue to pay your bills through alternate means (e.g. by cheque). The GIRO arrangement will be in place once your application is approved.
Your bank may also offer the signing up of GIRO arrangements via their online channels.
Currently, there are no fees and charges for setting up a GIRO arrangement.