DBS partners Singapore’s Ministry of Education to offer eGIRO

Singapore.13 Jan 2023

DBS’ integrated solution digitalises the GIRO application process, which provides greater convenience to parents and guardians

eGIRO applications only take a few minutes with real-time confirmation on outcome, versus two to four weeks for paper-based applications

Singapore, 13 Jan 2023 - DBS announced today that it has partnered the Ministry of Education (MOE) to offer eGIRO[1], allowing parents/guardians to apply for GIRO[2]online.

Currently, parents/guardians of students enrolled in MOE schools may apply for GIRO through Internet Banking or online application form if they are a DBS, POSB or OCBC account holder. Account holders of other banks would have to submit paper-based GIRO forms, which take approximately two to four weeks to process.

With the integrated solution hosted by DBS, the number of participating banks accepting eGIRO has been increased to eight[3], allowing more parents/guardians to apply for GIRO online. The digitalised process will take only a few minutes.

Mr Shee Tse Koon, DBS Singapore Country Head, said, “With our heritage as the Development Bank of Singapore, we have pioneered many firsts as part of our contributions to the building of the city state. DBS is proud to partner the Ministry of Education in their digitalisation journey and support the public sector in digital transformation through our innovative digital capabilities and deep knowledge of the payments ecosystem. Through initiatives such as the digitalisation of direct debit mandates, we aim to provide seamless experiences and banking solutions to our customers and the community, enabling them to Live more, Bank less, and contribute to Singapore’s Smart Nation vision.”

Mr Clarence Tang, Divisional Director, Finance and Procurement Division, MOE, said, “We are pleased to have partnered DBS in this effort to make it more convenient for parents and guardians to set up GIRO for payment of school expenses. This is part of MOE’s overall effort to improve our services through digitalisation.”

[1] https://abs.org.sg/consumer-banking/eGIRO
[2] https://abs.org.sg/consumer-banking/giro
[3] https://abs.org.sg/docs/library/egiro-participating-banks-as-on-31-july-2022.pdf


About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 14 consecutive years from 2009 to 2022.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

About the Ministry of Education
The Ministry of Education (MOE) formulates and implements education policies on education structure, curriculum, pedagogy, and assessment. It oversees the management and development of Government-funded schools, and the Institute of Technical Education, polytechnics and universities. More information on MOE can be found at www.moe.gov.sg.