| 1. |
What is APS+/OBG? |
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Maybank Automated Payment System Plus and Outward Interbank GIRO System (APS+ /OBG) is an electronic funds transfer system that allows companies to receive proceeds and make regular payments via Maybank2u.com.sg (Online Banking) to any savings or current account maintained with any GIRO participating bank in Singapore. |
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| 2. |
What is the difference between APS+ and OBG? |
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While APS+ is a banking transaction for payment to accounts in another bank, OBG can be used for either payment to or collection from another bank in Singapore.
OBG service provides a return file of all the items that you have submitted where return item by the local bank will be indicated for verification purpose. |
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| 3. |
Who can apply for this service? |
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Companies, partnerships, clubs, associations and societies that maintain a Maybank company current account are eligible to apply for this service. |
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| 4. |
What are the benefits? |
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Maybank APS/OBG customer will be able to enjoy the following : |
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- Handle fewer cash transactions
- Reduce operating costs
- Better management of account receivable & collections instructions
- User-friendly application for company's payment or collection instruction
- No installation of software on company's server
- Company information is kept confidential, as only authorised user issued with Access ID, PIN and security token is able to perform this transaction. One-Time Password (OTP) obtained from the security token is required for login and submission of batch file for company's payment or collection
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| 5. |
Are there any hardware and/ or software requirements for our access to this service? |
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There is no special hardware or software requirement. To use our APS+/OBG service, you need a PC with minimum Internet Explorer 6 and above as well as access to our Maybank2u.com.sg (Online Banking).
You must also have MS Excel to create your transactions and save the data as designated format ( in < .CSV > and <. txt > , i.e. in Notepad ) |
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| 6. |
What are the Fees and Charges for using this service? |
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| Transaction |
Fees and Charges |
| Payment to / Collection from Maybank account |
S$0.30 per transaction+ |
| Payment to / Collection from non-Maybank Account |
S$0.50 per transaction+ |
| Return Item |
S$1.00 per item returned |
| Request to Stop Wrongly Submitted file |
S$50.00 per file |
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Subject to a minimum of S$50.00 per batch file where transactions for Maybank and non-Maybank account can be combined. |
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| 7. |
How to apply? |
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To apply for the APS+/OBG service, please complete the following forms by selecting the service and submitting them together with the necessary documents as stated to the Relationship/Account Manager of the Branch where your company's current account is maintained: |
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- Maybank Business Internet Banking Application Form (BIB Form A), Business Internet Banking Transaction Approval Mandate Customisation Application (BIB Form B),where applicable
- Board Resolution to support application for Business Internet Banking
- Fax Indemnity
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The forms can be downloaded from our public website at:
http://info.maybank2u.com.sg/site_functions/af_business.htm
The application process will take about 2 to 3 weeks from the date the application is received by Maybank.
For more information about Business Internet Banking, please click here. |
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| 8. |
What is the process of the payment crediting to other banks’ accounts in Singapore? |
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The whole process of payment system will take minimum 3 business days.
Company will decide the payment (value) date, i.e the T day (where T is a business day), the batch file needs to be submitted to Maybank by 4 pm on T-2 (i.e. 2 business days before Tday).
However, the customer may choose to submit the batch file earlier on T-3, T-4, T-5 or T-6. For example, if the value date is 11/10/07, the batch file must be submitted to Maybank by 4 pm on 9/10/07. In this case, the earliest that the customer may submit this file is 3/10/07. Please note that Saturday is not a business day for this purpose, as there is no clearing between Banks. Similar process is applicable for companies receiving fees and payments from another Bank.
In the same example, the receiving bank’s account will be credited on the batch day of 11/10/07 and funds will only be available on 12/10/07. If the receiving account is a Maybank account, funds will be available at 7 am on 11/10/07.
For the Maybank company account, funds should be ready for deduction by end day of T-1, i.e. 10/10/07. |
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| 9. |
What are the common reasons for an item to be rejected by the other Bank? |
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The common reason for items being rejected are : |
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| Description |
Reason Code |
| Invalid account |
10 |
| Invalid branch code |
20 |
| Account closed |
60 |
| Account does not exist |
61 |
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| 10. |
Can a file wrongly submitted be stopped? |
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A file wrongly submitted can be stopped two (2) business days before the payment/value
date. For example, if today (T-2) is 17/3/08, stopping of payment is only applicable to the file with value date of 19/3/08, 20/3/08 or after, but not for 18/3/08 or earlier. To stop a file, please take the following steps: |
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- Request for the < Stop Payment > Form from the Branch or contact our Customer Relationship Executives on 1800-MAYBANK (1800-629 2265).
- Fill up the form and fax it to CAPS MT. The fax number is stated on the form. The authorised signatory or signatories, if there is more than one, must sign the Stop Payment Request Form.
- Fees payable for stop payment: S$50 per file.
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