New system will speed up Giro applications

WE APOLOGISE to Mr Tan Kin Lian ("...and applying for Giro authorisation"; last Saturday) for any inconvenience caused. We understand that the Giro application form he sent out did not reach us the first time. We are glad that the matter has been resolved, and his Giro application approved.

As for the current process for Giro applications by all banks, the industry is working closely to improve the experience.

As announced last June by the Association of Banks in Singapore, banks are working together to roll out a new-generation payment system that will be implemented in 12 to 18 months.

With the new system, new Giro applications can be set up electronically within five business days. The new system will also allow individuals and firms to transfer funds electronically to any bank in Singapore on a real-time basis, instead of the two to three business days currently.

In the meantime, customers can make use of our existing Pay-Any-Card service, which allows them to pay all their credit card bills via Standard Chartered Online Banking. Card payments can also be performed on iPhones via our Breeze app.

For more information, visit www.standardchartered.com.sg/scb-online-banking-faq/payanycard.html

Yap Jee Hoe

Director, Customer Service

Standard Chartered Bank