Set up a GIRO arrangement
Arrange for payment by GIRO to automatically deduct premiums from your bank account. Simply use one of the following three methods to make your GIRO arrangement based on the eligibility conditions.
Apply for GIRO via POSB or DBS website
Apply for GIRO using Interbank GIRO Application Form
Apply for eGIRO
eGIRO, short for electronic GIRO, is a collaborative effort between the Association of Banks in Singapore (ABS), Monetary Authority of Singapore (MAS), and financial institutions. This initiative digitizes the GIRO application process, resulting in a significant reduction in the GIRO set-up turnaround time to just a few minutes.
Who is this for:
- Individual policy owners with SGD-denominated, regular premium and non-CPF/SRS policies, and setting up GIRO arrangement with any of the nine participating banks: DBS/POSB, OCBC, UOB, Citibank, Standard Chartered, HSBC, Maybank, ICBC and Bank of China.
Instructions:
1. Log into your account via MyManulife.
2. Click on the "Payment" tab, followed by "Premium Payment".
3. Click on "GIRO application".
4. Follow the instructions on the page to guide you through the setup process for your GIRO arrangement.
Who is this for:
- Corporate policy owners or policy owners with a collateral assigned policy, who are also POSB or DBS account holders.
Instructions:
1. Visit POSB or DBS website and login to your digibank account.
2. Go to "Add GIRO Arrangement".
3. Under Billing Organisation, select Manulife (S) Pte Ltd from the dropdown list.
4. Key in your Manulife Policy Number as the Bill Reference Number.
5. Check the "I do not want to set a payment limit" if you do not wish to set a payment limit.
6. If you wish to set a payment limit for the policy indicated, do enter the payment limit. By setting this payment limit, it limits the amount Manulife can collect from the selected bank account for the specific policy. A collection of the bill that exceeds this limit will be rejected.
Who is this for:
- Corporate policy owners or policy owners with a collateral assigned policy, who are not POSB or DBS account holders.
- Policy owners looking to set up a GIRO arrangement with banks that are not among the nine participating banks: DBS/POSB, OCBC, UOB, Citibank, Standard Chartered, HSBC, Maybank, ICBC and Bank of China.
What you need to know:
- Your application may take up to 60 days to activate.
- We will inform you once your application is approved. Meanwhile, please arrange to make timely payment of your premiums via other payment methods.
- The bank account holder must sign on the Interbank GIRO Application Form. The signature used must be the same as the one in the bank's records.
FAQs
How do I check for details on my GIRO arrangement?
You can review the details of your GIRO arrangement for each of your individual policies by logging into your MyManulife account. Select the policy and click on the "Premium payment" tab. You can find your GIRO arrangement details under "Payment method".
How would I know if I have set up or terminated my GIRO arrangements?
You can access the payment details for your individual policies by logging into your MyManulife account. Select the policy and click on the "Premium payment" tab.
When will my GIRO deduction commence?
After your GIRO application has been approved, you will receive the GIRO Approval notification which indicates your policy's GIRO deduction start date.
Generally, the scheduled GIRO start date will be determined based on your policy's premium due date and plan type (Accident & Health (A&H) plan or otherwise) as follows:
| Recurring GIRO deduction schedule | |||
|---|---|---|---|
| Type of Policies | Premium Due Date | First Deduction Date | Second Deduction Date |
| Whole Life, Term, Endowment, Retirement, Investment-linked Policies | 1st to 15th | 16th of the current month | 2nd of the next month |
| 16th to 31st | 2nd of the next month | 16th of the next month | |
| Accident & Health Policies | 1st to 15th | 16th of the previous month | 2nd of the current month |
| 16th to 31st | 2nd of the current month | 16th of the current month | |
| Ex-John Hancock Policies | 1st to 31st | 10th of the current month | 22nd of the current month |
Note:
- You will be informed of the GIRO deduction date in our approval letter once your GIRO application is approved.
- Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.
- Your premium will be sent to the bank 5 working days prior to the actual deduction date. Therefore, any payments made during this period will not be able to stop the GIRO deduction, and any policy changes will not be reflected.
- GIRO deduction will not take place if the policy is under Premium Holiday or Premium Shortfall Charge.
- Change of bank account number will not change existing GIRO deduction date.
What happens when my GIRO deduction fails?
If your first GIRO deduction fails, we will attempt to make another deduction on the next scheduled date, as long as the policy is still in force. The GIRO deduction is scheduled on the 2nd or 16th of every month for all Manulife policies.
Why was my hardcopy GIRO application rejected?
There are many rejection reasons associated with hardcopy GIRO forms.
Some common reasons include:
- Incomplete or missing information;
- Variations or discrepancies in your signature compared to the Bank's records;
- Amendments made using correction fluid or tape.
With eGIRO, there are upfront validations on both MyManulife as well as the bank portal. This makes eGIRO faster, easier and without the worry for unnecessary rejections.
What are the fees and charges applicable for setting up a GIRO arrangement?
There are no fees or charges associated with setting up a GIRO arrangement.
How do I change my GIRO account?
To change your GIRO account, you can apply for a new GIRO arrangement, which will replace any existing GIRO arrangement. There is no need to terminate the existing GIRO arrangement before applying for a new one.
How long does it take to process my GIRO application?
When applying for eGIRO through MyManulife, your application can be completed within minutes and approved within a day. For eligible applications using Interbank GIRO Application Form, your application may take up to 60 days to become active.
How do I know if my GIRO application is approved?
Upon successful processing of your eGIRO/GIRO application, we will issue the GIRO Approval notification to you via eComms or mail, depending on your document preference.
Will I receive GIRO payment alert on my GIRO arrangement?
Upon every scheduled GIRO deduction, we will liaise with your bank to debit the premium amount from your bank account. Your bank may notify you of such deductions, depending on your notification preference with the bank. Alternatively, you may also refer to your bank statement for the respective successful deduction.
If there is any unsuccessful deduction, we will inform you via the Unsuccessful GIRO Deduction notice. If this is the first deduction attempt, we will retry for a second deduction if the policy is still in force.
