Frequently Asked Questions


How can I opt for this service?

You can choose to pay your debit or credit balance through GIRO if you have a savings or current account with DBS or POSBank. Fill in the GIRO application form to authorise the link between your trading account with us and your bank account.

Can I have both EPS and GIRO

No, you can only opt for one service. If you are currently under the Electronic Payment for Shares (EPS) system and wish to switch to GIRO, you must first terminate your EPS linkage. Click here for the EPS closure form and the GIRO application form. After completing the form, please send it back to the above-mentioned address.

When will the GIRO service take effect?

Approximately three to four weeks after you have submitted your application and upon our issuance of a confirmation letter to you.

When will the bank deduct the account for my purchase?

The bank will deduct the funds on the 2nd day after due date (D+2). However, please ensure your bank account has sufficient funds by D+1. Any deficient in payment on deduction day, PSPL shall have the discretion to sell or dispose of any or all of the shares on D+2 onwards.

When will I receive my sales proceeds?

The bank will credit the funds on the next day after due date (D+1).

Can I do contra?

Yes, you may perform contra before or on the due date of the purchase contract.

When will contra loss/gain be settled under GIRO?

For contra loss: The bank will deduct the funds on contra statement date + 1. For contra gain: Contra gain will be paid out on contra statement date +1 and no reversal is allowed once paid.

Can I cancel my GIRO arrangement?

Yes, simply fill in the termination form. Phillip Securities Pte Ltd reserves the right to cancel the arrangement.

Is the GIRO arrangement applicable to both Shares and Unit Trusts?

Yes, but Giro is only applicable for Non-Ledger Based Account (Cash Account).  

When will the funds be deducted for lump-sum investments & under the Regular Savings Plan(RSP)?

Giro deduction for both lump-sum investments and RSP is on T+1 day.  

Can I use EPS for Shares and GIRO for Unit Trusts?

Giro arrangement is only applicable to RSP. Payment for lump-sum unit trust investments must still be initiated through EPS (Lump sum payment) by T-day, 9pm.  

Will the proceeds from sale of unit trusts be credited to my bank if I have GIRO?

If your Phillip Account type is the older cash trading account with Giro linkage to DBS/POSB, the sales proceed will be paid directly to your bank account. For cash management, custodian, margin and Phillip financial accounts, the sales proceeds will be paid into your trading account.