PayNow Corporate Setup Guide

PayNow Corporate lets Singapore companies receive government grant payouts (PSG, EDG, EEG, MRA) in about 14 working days — roughly 4x faster than GIRO.

PayNow Corporate is the preferred payout method because it’s faster—grant recipients typically receive funds within 14 working days after claim approval, compared to up to 8 weeks for GIRO.

Most businesses only need: (1) a bank account from one of the four standard banks (OCBC, DBS, POSB, UOB), (2) to link their UEN to the account, and (3) to submit PayNow Corporate details via the BGP claim form.

Quick Setup Path

1. Confirm your bank account is from one of the four standard banks (OCBC, DBS, POSB, UOB) and is in your company’s name (matching ACRA registration).
2. Contact your bank or log in to your bank’s internet banking or mobile banking app.
3. Link your UEN (Unique Entity Number) to the bank account.
4. (Optional) Add a 3-digit alphanumeric suffix to your UEN to create multiple PayNow proxies.
5. Enter your company name to complete the setup.
6. Submit your PayNow Corporate details via the Business Grants Portal (BGP) claim form when submitting your claim.

What You Need

• UEN (Unique Entity Number) from ACRA
• Bank account from one of the four standard banks (OCBC, DBS, POSB, UOB)
• Account in your company’s name matching ACRA registration exactly
• Access to your bank’s internet banking or mobile banking app, or ability to contact your bank
• Bank account must be active and in good standing

Setup Process

The setup process is the same regardless of which grant you’re applying for:

1. Contact your bank or log in to internet/mobile banking:

   • Use your bank’s internet banking portal or mobile banking app
   • Alternatively, contact your bank directly to set up PayNow Corporate

2. Link your UEN to the bank account:

   • Navigate to PayNow Corporate setup in your banking portal/app
   • Enter your UEN (Unique Entity Number) to link it to your bank account
   • The UEN must match your ACRA-registered business entity

3. Optionally add a 3-digit alphanumeric suffix:

   • You can add a 3-digit alphanumeric suffix to your UEN to create multiple PayNow proxies
   • This is useful if you need to distinguish between different payment streams
   • Example: If your UEN is 123456789A, you could create 123456789A001, 123456789A002, etc.

4. Enter your company name:

   • Complete the setup by entering your company name
   • Ensure the name matches your ACRA-registered business name exactly

5. Submit details via BGP claim form:

   • Once PayNow Corporate is set up with your bank, submit your PayNow Corporate details via the Business Grants Portal (BGP) claim form
   • This is done when you submit your grant claim, not as a separate registration step
   • Provide the PayNow Corporate identifier (UEN + suffix if applicable) in the claim form

Timing & Expectations

Setup timeline:

• PayNow Corporate setup with your bank is typically immediate or takes a few business days
• You can set up PayNow Corporate while your grant application is in progress
• Complete setup before submitting your claim to avoid delays

Disbursement timeline:

• After claim approval: ~14 working days for PayNow Corporate disbursement
• GIRO alternative: up to 8 weeks (slower option)

Important: In the event that no PayNow Corporate or GIRO has been set up, grant disbursement cannot be processed. Set up your payout method before submitting claims.

Troubleshooting

1. “Account name doesn’t match ACRA registration”. Ensure your bank account holder name exactly matches your ACRA-registered business name. Update your bank account if needed, or contact your bank to verify the registered name matches ACRA records.

2. “Bank doesn’t support PayNow Corporate”. PayNow Corporate is only available for accounts from OCBC, DBS, POSB, or UOB. If your account is from another bank, you’ll need to use GIRO instead. See the GIRO Setup Guide for details.

3. “Setup not recognized on BGP”. Ensure you’ve completed the PayNow Corporate setup with your bank first, then submit your PayNow Corporate details in the BGP claim form. The details must be submitted when you submit your claim, not separately.

4. “Want to switch from PayNow Corporate to GIRO”. You can set up GIRO instead if needed. Update your payout preference on BGP when submitting claims, or contact EnterpriseSG to change your preference. See the GIRO Setup Guide for setup instructions.

5. “Disbursement delayed beyond 14 working days”. Contact EnterpriseSG support with your grant reference number and claim details. Verify that your PayNow Corporate setup was completed successfully with your bank and that details were correctly submitted in the BGP claim form.

6. “Can’t find PayNow Corporate setup option in banking app”. Contact your bank directly if you can’t find the PayNow Corporate setup option in your internet banking or mobile banking app. The feature may be located under “Payments”, “PayNow”, or “Corporate Services” sections.

Grants That Use PayNow Corporate

Most grants submitted through the Business Grants Portal (BGP) accept PayNow Corporate as a payout method:

• Productivity Solutions Grant (PSG)
• Enterprise Development Grant (EDG)
• Energy Efficiency Grant (EEG)
• Market Readiness Assistance (MRA)

Frequently Asked Questions

How long does it take to set up PayNow Corporate?

Setup is typically immediate or takes a few business days, depending on your bank. You can set it up while your grant application is in progress.

Which banks support PayNow Corporate for grant payouts?

Only OCBC, DBS, POSB, and UOB support PayNow Corporate. If your account is with another bank, you must use GIRO instead.

Can I receive multiple grant payouts via PayNow Corporate?

Yes. Once set up, PayNow Corporate can be used for all BGP grant disbursements — PSG, EDG, EEG, MRA, and others.

What if my PayNow Corporate setup isn’t recognized on BGP?

Ensure you’ve completed the setup with your bank first, then submit your PayNow Corporate details in the BGP claim form. The details must be submitted when you submit your claim, not separately.

Do I need a separate PayNow Corporate setup for each grant?

No. One PayNow Corporate setup (linking your UEN to your bank account) works for all grants submitted through BGP.

Related Guides

• PayNow Corporate vs GIRO: How to Choose? - Choose between PayNow Corporate and GIRO payout methods
• GIRO Setup Guide - Alternative payout method if PayNow Corporate isn’t available
• Corppass Setup Guide - Set up Corppass to access BGP and submit grant applications
• Grant Pitfalls Guide - Common pitfalls to avoid when applying for grants
• Singapore Grants Glossary - Common grant terms and acronyms

Glossary

For common grant terms and acronyms, see: Singapore Grants Glossary

Official Links

• PayNow Corporate (ABS) - General information about PayNow Corporate from the Association of Banks in Singapore
• Business Grants Portal (BGP) - Where you submit grant applications and claims (PayNow Corporate details submitted here)
• ACRA Business Profile - Verify your business registration details (account name must match)
• DBS PayNow Corporate - DBS PayNow Corporate information
• OCBC PayNow Corporate - OCBC PayNow Corporate information