Features & Benefits

Payments
Collections

Overview

With PayNow, you can make payments to proxy IDs (UEN/Mobile/NRIC/VPA) and start collecting via PayNow by simply registering your UEN through Bizchannel@CIMB (online/mobile banking). 

 

CIMB channels that support PayNow payments include BizChannel web and mobile, API and H2H. Our Bizchannel mobile allows Scan and Pay function for any acceptable PayNow QR or SGQR in the market.

Promotional Offers

How To Apply

Step 1
  • Log in to BizChannel web or mobile using your login details.
Step 2
  • Under “PayNow Setup” tab, select “Add”
Step 3
  • Select an account to be linked to your UEN
  • Note: Add a 3-digit alpha-numeric suffix to your company’s UEN to create multiple PayNow proxies
  • E.g. UEN no. 1234567E and a 3-digit alpha-numeric suffix of 'b15' - the proxy will be '1234567Eb15'

 

FAQs

General

 

What is PayNow Service?

- PayNow Service enables Corporates to pay and receive Singapore Dollar funds by linking their Unique Entity Number (UEN) issued in Singapore to their Singapore bank account. They do not need to know the bank and account number of other entities when transferring funds. 

 

What are the benefits of using PayNow Service?

- With PayNow proxy ID, you are no longer required to provide your bank name and bank account number to your payer. Receive payment instantly via PayNow FAST.

Registration

 

How do I register for PayNow Service?

- PayNow Service can be registered via BizChannel@CIMB web or mobile.

 

How would I know if the registration/amendment/de-registration is successful?

- An email/SMS notification will be sent to your registered email/ mobile number maintained with the bank upon successful registration/amendment/de-registration.

 

Can an overseas entity sign up for PayNow Service?

- No. Only Singapore-incorporated entities can sign up for PayNow Service.

Transactions

 

Are there any charges for using PayNow Service?

- From now till Dec 2022, there will be no charge on incoming PayNow payment and Outgoing PayNow FAST.

 

How many accounts can I link to?

- A single UEN can be linked to multiple accounts by using different suffixes for each account e.g. UEN ('12345678X') + suffix ('b15') = '12345678Xb15' 

 

How can corporates make payment using PayNow?

- Payments can be processed via GIRO or FAST.

 

Are transfers via PayNow safe and secure?

- Yes. The end-to-end process of a PayNow transaction is secure and adopts the same security standards established by the banking industry in Singapore for funds transfer.

 

What is the cut off time for PayNow payments?

- PayNow payments made via FAST are available 24/7. For PayNow payments made via GIRO, the existing GIRO cut-off time applies.

 

What is the transaction limit?

- The transaction limit is S$200,000 per transaction via PayNow FAST. There is no limit via PayNow GIRO.

Terms & Conditions

 

Terms and Conditions Governing CIMB PayNow Service (Corporate) apply. Click here for details.

 

*Terms and Conditions Governing CIMB PayNow Transfers Promotion (“Promotion”). Click here for details.