electronic-payment

Electronic Payment

Process payments online securely and efficiently

Electronic Payment

Process payments online securely and efficiently

    At a Glance
    Strengthen your relationships with suppliers and facilitate trade with DBS Electronic Payment services. Through this facility, we help you to transfer your domestic payment funds securely and efficiently to your beneficiaries account in any bank in India. 

    We offer payments via Account Transfer, National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS), and Statutory/Tax Payments.
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    Save Money & Time

    Save money with our competitive transaction fees and make payments promptly with our extended cut-off times, available when using IDEAL, to help facilitate urgent payments

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    Seamless integration with your ERP

    Our seamless integration of Electronics Payment with your ERP (Enterprise Resource Planning) system will help simplify your accounts reconciliation process

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    Avoid Paper Work

    Lower administrative costs and save time with less paper work associated with physical clearing and dispatching of cheques. It also Protects ypu against risks 

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    Protect against fraud

    Reduce chances of fraud as payments are transferred directly into bank accounts, unlike paper-based payments like cash or cheques which may be mishandled by internal or external factors

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    Stay informed with IDEAL eReports

    1. Automated email confirmations sent to you and your payees at transaction level on near real-time basis and at intervals of every two hours
    2. Receive end-of-day updates through MT 940 and/or account statements
    Features and Benefits
    Account Transfer

    Account Transfer is a secure and cost-effective way to make payments electronically between DBS accounts in any currency via IDEAL, our online banking platform. Funds transferred are available immediately in the payee's account. This is suitable for intra-company and third party transfers within DBS accounts and helps to avoid delay in payment transactions.
    NEFT

    NEFT is an inter-bank payment and settlement system suitable for low value payments below INR 200,000 per transaction. You may transfer funds to over 90,000 bank branches across India through IDEAL or IDEAL Connect.

    Other benefits include:

    1. You can upload bulk payment files created in your ERP (Enterprise Resource Planning) system or accounting packages
    2. Same day transfer of funds without delay
    3. Enhance your working capital by negotiating better terms with your business partners with your prompt online payment transactions
    RTGS

    RTGS is the fastest way to transfer funds for high value payments of over INR 200,000 per transaction. It is a convenient and secure payment system, approved by the Reserve Bank of India (RBI).  You may transfer funds to any local bank account across India, with over 90,000 branches, through IDEAL or IDEAL Connect.

    Other benefits include:

    1. You can upload bulk payment files, up to 5,000 transactions in one file, created in your ERP (Enterprise Resource Planning) system or accounting packages
    2. Same day transfer of funds without delay
    3. Enhance your working capital by negotiating better terms with your business partners with your prompt online payment transactions
    Statutory/Tax Payments

    File and pay your statutory/tax returns with ease. You can be assured of timely same day submission which saves you time and administrative costs. Just enter your tax data via an easy-to-use online template that is encrypted for added security measures. You can upload multiple tax payment instructions including direct, indirect, custom duty and statutory/tax payments for respective Indian states simultaneously throughh IDEAL

    Other benefits include:

    1. You can upload multiple tax payment instructions onto one simple bulk payment file via   IDEAL
    2. Subject to the availability of funds in your account, tax payment instructions submitted before the cut-off time will be acknowledged with a payment receipt
    Contact Us

    Schedule a callback via this online form.

    Alternatively, you can reach us at 1800 103 6500 / 1800 419 9500

    Email: [email protected]

    FAQs
    Do I need a DBS Business Account to make electronic payments?

    Yes, you will need to have a business account with us in order to use these services. If you do not have a business account with us, please visit our bank branch and we’ll arrange for a relationship manager to assist you. You may also visit our Business Account page for more information.
    What are the cut-off times for Electronic Payment services?

    The cut-off times are as follows and effective on a working day, except on Public Holidays.

    For Account Transfer: 6.30pm
    For NEFT: 4.30pm
    For RTGS: 3.30pm
    For Tax Payment / Outward Remittances / Cheque Express: 2pm

    Payments and applications made after the cut-off times will be processed on the next working day.
    What are your transaction fees for Electronic Payment services?

    We offer competitive pricing for transaction fees. You can enjoy preferential pricing if you are an IDEAL user.

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