A new monthly Giro deduction payment at any of the banks here can take as long as four to six weeks.

This contrasts unfavourably with a new credit card, for instance, which can be issued by a bank in a matter of days.

The DBS initiative is aimed at simplifying the process - and it could cut weeks from the processing time.

Come the first quarter of next year, DBS will allow its customers to apply to pay by Giro via its AXS terminals.

The initiative - a first in the fiercely competitive consumer banking scene here - makes Giro applications even more convenient and accessible.

All customers need do is swipe their DBS card on the AXS terminal, key in their PIN, and pick from a list of major billers. The bank has more than 500 AXS machines in Singapore.

Some online applications options exist at other banks, but this initiative enables the many Singaporeans without Internet access to enjoy the benefits.

Read the full story in Monday's edition of The Straits Times.