OCBC partners Iras on automatic payments

Missing a bill payment for a utility or the taxman can be costly, but a move by OCBC could make that a thing of the past.

The bank has put out software that will allow organisations to set up Giro payment facilities on their websites or apps in a way that will be compatible with OCBC systems. This will let its customers set up automatic payments once the service is up and running by November.

The local lender's first partner is the Inland Revenue Authority of Singapore (Iras), which will have Giro on its myTax Portal.

This means OCBC account holders can instantly arrange to pay income and property tax by Giro on the Iras website, rather than having to go through the bank, either online or with paper forms.

This cuts down on the waiting time to have Giro applications approved, a period that can be as long as three weeks.- THE STRAITS TIMES