Understanding Banking and Recipient Processing Setup for Singapore

Before you can successfully run your banking and recipient processes, you need to set up additional source bank details and link your source banks to debit types. Additional set up is also required on an ongoing basis, such as the linking of payees to recipients and additional recipient information for reporting and collection of any commission that may be payable. The system requires additional bank, bank account, recipient and payee data to process payments to banks and providers for Singapore. That information includes:

• Source bank overrides for certain debit types.

• Data related to fees and commissions that may be payable by providers to pay entities for collecting payee deductions on the provider's behalf.

• Group IDs, assigned by providers, that identify your pay entity for those providers.

• Payee IDs—membership numbers—assigned by providers.