PayNow Corporate vs GIRO: How to Choose?

PayNow Corporate delivers Singapore government grant payouts in about 14 working days; GIRO takes up to 8 weeks. You must set up one of them before submitting your grant claim—disbursement cannot be processed without a payout method. For detailed setup instructions, see the PayNow Corporate Setup Guide or GIRO Setup Guide.

Read This First

• Bank type is the primary gate: PayNow Corporate is only available for accounts from OCBC, DBS, POSB, or UOB. If your account is from another bank, use GIRO.
• Account structure matters: Standard corporate accounts can use PayNow Corporate. Joint accounts under Partnership/Limited Partnership, IPC, or Associations must use GIRO.
• Speed difference: PayNow Corporate disbursement takes ~14 working days after claim approval. GIRO takes up to 8 weeks.
• Both required before claim submission: You cannot receive grant payouts without setting up either PayNow Corporate or GIRO. Set up your payout method before submitting claims.

Quick Decision Matrix

Legend: ✓ = Use this method | — = Not applicable | ✗ = Not eligible

At a Glance

Decision Flow

Common Scenarios

• “I have a DBS corporate account in my company’s name” → PayNow Corporate (faster disbursement, standard setup)
• “I have a joint bank account under a Partnership structure” → GIRO (PayNow Corporate not available for joint accounts)
• “My company is an Institute of Public Character (IPC)” → GIRO (PayNow Corporate not available for IPC/Associations)
• “I have an account from a non-standard bank (not OCBC, DBS, POSB, UOB)” → GIRO (PayNow Corporate only available for 4 standard banks)
• “I want the fastest possible disbursement” → PayNow Corporate (~14 working days vs up to 8 weeks for GIRO)
• “I have an OCBC account but prefer GIRO” → GIRO (both methods available, but GIRO is slower)

Before You Apply

1. Set up your payout method before submitting claims: Grant disbursement cannot be processed without either PayNow Corporate or GIRO set up.
2. Account name must match ACRA registration: Ensure your bank account holder name exactly matches your ACRA-registered business name.
3. Timing considerations:
   • PayNow Corporate setup is immediate to a few business days
   • GIRO setup takes several weeks—plan ahead
   • Complete setup before submitting your claim to avoid delays
4. For special cases (GIRO): Non-standard banks, joint accounts, or IPC/Associations require DCA form and declaration form submission via EnterpriseSG GIRO Form.
5. If you’re not set up yet: See Corppass Setup Guide for BGP access, and choose your payout method using this guide.

Frequently Asked Questions

Which is faster — PayNow Corporate or GIRO?

PayNow Corporate is significantly faster. Grant payouts arrive in about 14 working days after claim approval, compared to up to 8 weeks for GIRO.

Can I use PayNow Corporate with any bank?

No. PayNow Corporate is only available for accounts from OCBC, DBS, POSB, or UOB. If your account is from another bank, you must use GIRO.

Can I switch from GIRO to PayNow Corporate after setup?

Yes. You can set up PayNow Corporate and update your payout preference on BGP when submitting claims, or contact EnterpriseSG to change your preference.

Do I need to set up a payout method before applying for a grant?

You don’t need it before applying, but you must have either PayNow Corporate or GIRO set up before submitting your grant claim. Disbursement cannot be processed without a payout method.

Does my bank account name need to match my ACRA registration?

Yes. Your bank account holder name must exactly match your ACRA-registered business name. Even minor discrepancies can delay or block disbursement.

Related Guides

• PayNow Corporate Setup Guide - Step-by-step setup for PayNow Corporate payout method
• GIRO Setup Guide - Step-by-step setup for GIRO payout method, including special cases
• Corppass Setup Guide - Set up Corppass to access BGP and submit grant applications (required for both payout methods)
• Grant Pitfalls Guide - Common pitfalls to avoid when applying for grants, including payout method setup issues
• Singapore Grants Glossary - Common grant terms and acronyms, including PayNow Corporate and GIRO definitions

Official Links

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