Payments

Payroll Service

Pay your employees on time with our secure payroll system

Save time and money by paying your employees’ salaries through DBS Payroll Service every month. Simply submit your payment files through IDEAL™, our online banking platform, and we’ll process your payroll for you without the need to withdraw cash or issue cheques. And if your employees hold a DBS account, they will enjoy a faster turnaround time in receiving their salaries.

 

Why choose DBS Payroll Service?

  • Improve your cash flow and ensure your employees are paid quickly and on time with our automated transaction payroll system
  • Benefit from added convenience with cut-off times that are later than most banks. Our cut-off time is 3.30pm on working days
  • Monitor your account balance with our daily transaction reports and simplified account consolidation process
  • Create multiple transactions in one file with our easy-to-use payment system for added convenience
  • Protect against fraud with our safe and secure data validation and encryption features

FAQs

I am currently using another bank for payroll service and I import my payment files into their Internet banking platform. Will the system change if I switch to DBS?

The formats for payment files used by IDEAL™ are supported by most payroll and account payables systems used by other banks, so it is unlikely there will be any changes in the system if you switch to DBS.

If I realise there’s an error in my payroll instructions after I have submitted them to the bank, can I amend the payment?

For security reasons, DBS does not allow you to make amendments to payment instructions once they have been filed and submitted. However, you can stop the payment from being made and make alternative arrangements to pay your employee.

Is there a fee for using Payroll Service?

Yes, please refer to our pricing guide.

 

How do I apply?

Simply call us at 400 820 8988 (or +86 400 820 8988 if you're overseas) or visit any of our Branches. You may also email us and our Relationship Manager will contact you as soon as possible.

 

Disclaimer:

The information provided in this website is for general information only and nothing contained in this website constitutes an invitation, offer or solicitation with respect to the entry into transactions mentioned in this website or subscription, purchase or sale of any products, services, securities or other financial instruments mentioned in this website or the taking of any position or the adoption of trading strategy in respect of any asset class (eg. currency, interest rate, commodity, equity etc). The information provided in this website is not provided with regard to the specific investment objectives, financial situation and the particular needs of any particular person who accesses this website.

 

The information provided on this website is subject to change without notice, its accuracy is not guaranteed, and it may be incomplete or condensed. Accordingly, no representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information in this website. We are not acting as your advisor or agent when providing the information in this website. The information in this website does not purport to identify the risks (direct or indirect) or other material considerations which may be associated with you entering into a particular transaction, subscribing for a particular service or purchasing or selling a particular security or financial instrument. Prior to entering into any proposed transaction or entering into any subscription, purchase or sale of any security or financial instrument, you should determine (after consultation with your own advisors if you deem fit), without reliance upon us or our affiliates, the economic risks and merits, as well as the legal, tax, accounting or other material characterisations and consequences of the transaction, subscription, purchase or sale, as the case may be, and that you are able to assume these risks.

 

We, and/or our affiliates, may hold, or trade, or act as market-maker, in any securities or other financial instruments mentioned in this website or related derivatives or may take positions or use trading strategies in respect of any asset class similar to or which differ from or be contrary to those mentioned in this website. We, and/or our affiliates conduct many businesses and activities that may relate to issuers of third party securities mentioned in this website and may provide broking, banking and other financial services to such issuers.

 

Anyone receiving or accessing this website must make their own assessment of the materials herein and conduct such investigations and seek such professional advice as they think fit for such purpose. The information provided on this site should not be regarded by recipients as a substitute for the exercise of their own judgment.

 

© DBS BANK LTD, 2013. All rights reserved. Any unauthorized use, duplication or disclosure is prohibited by law and will result in prosecution.

Awards
Best SME Bank of the Year, China 2015

Best SME Bank of the Year, China 2015

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