Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation.

DBS Bank accepts no liability whatsoever with respect to the use of this document or its contents.

POSB PAYROLL ACCOUNT (FDW) -

Account Opening through MOM system

FOR EMPLOYMENT AGENCIES

AGENDA

▪ POSB Payroll Account (FDW) via Ministry of Manpower

▪ Overview of the process

▪ Changes on MOM system screen pertaining to account application (including CRS

and how to deal with it)

▪ Sample of Successful Application mailer

▪ Type of Card issued and Benefits

▪ Sample of Exception Handling mailer

▪ Exception handling process if employer contacts you

▪ How to advise when asked about card activation and mobile update (Screen

samples including jolly and digibank)

MOM system – POSB PAYROLL ACCOUNT (FDW)

▪ What is this about?

– DBS is working with Ministry Of Manpower (MOM) to open POSB Payroll Accounts for Foreign Domestic

Workers (FDW)

▪ When will it commence?

– To be launched on October 7 2018

– Available for application via MOM system www.mom.gov.sg/fdw-eservices from October 7 2018

▪ Who will be eligible to open accounts via this channel?

– New & transfer FDWs who do not have an existing POSB/ DBS account

▪ How will customers be notified to apply through this channel?

– eDMs will be sent to Employment Agencies as well as Employers.

▪ How can application be done?

– The payroll account opening is requested for by Employment Agencies / Employers of the FDW when applying

for the FDW Work Permit Card Registration via MOM system. This is an add-on and not a stand-alone

process.

MOM system – POSB PAYROLL ACCOUNT (FDW)

▪ What are the benefits of opening the account via this channel?

– Straight Through Account Opening Process

– FDWs do not need to go to the POSB branches to open accounts

– Waiver of Initial Deposit and Fall-below Fee as this is an online application

– Centre for Domestic Employees (CDE) Membership – www.cde.org.sg/cdemembership

▪ How will customers know if they are successful?

– A POSB ATM card and New Card PIN mailer will be mailed to the FDW at her employer’s address within 7 working

days

▪ Is there any need to activate accounts opened via this channel?

– FDWs can activate their ATM cards at any POSB/ DBS ATM. There would not be any separate link for card activation.

As mobile number and email address is not provided through MOM system, they would not be able to do SMS or

digibank activation.

▪ What does the FDW need to do after activating her ATM Card?

– FDWs will be required to update their mobile number via POSB/ DBS ATM or AXS machine

– FDWs’ e-mail address and mobile number are not captured during the application

MOM system – POSB PAYROLL ACCOUNT (FDW)

▪ How will customers know if they are unsuccessful?

– An Exception Mailer will be sent to the FDW within 7 working days, at her employer’s address, asking her to proceed

to any POSB branch for manual account opening or card replacement

▪ What documents will the FDW have to bring to the branch?

– Exception mailer received

– Passport with more than 6 months’ validity

– MOM In-Principle Approval Letter (Helper’s Copy) / Work Permit

▪ What are the possible reasons for unsuccessful opening of accounts?

– Details in Bank Records do not match

– FDW holds an existing POSB Payroll Account

– Incorrect information provided

▪ If existing FDWs close their account and reapply, will they be eligible for the benefits?

– FDWs that close their existing accounts may not be able to open another account with the bank

– This account application process is only available on MOM’s system for new & transfer FDW Work Permit

applications. FDWs would not be able to apply for accounts via this channel if they are existing workers.

– For the CDE Membership, they will have to apply direct with CDE

Overview Of The Process

Account

opening

successful?

Card and mailer sent to

customer

Customer activates

card & updates mobile

at ATM

Exception mailer sent to

customerCustomer goes to any

POSB branch

Branch opens Account

or replace ATM card

No

Yes

Apply for Payroll

Account via

www.mom.gov.sg/fd

w-eservices

FDW Payroll Account Application Screen

Y Check the “Yes” button if FDW has given

consent for a POSB Payroll Account to be

opened on her behalf

Application can be done when requesting for

Work Permit Card Issuance for newly-arrived or

transfer FDWs.

The Payroll Account comes bundled with a Free

Centre for Domestic Employees (CDE)

Membership. For more details, please visit www.cde.org.sg/cdemembership

Y

FDW Payroll Account Application – CRS Declaration

Do note that we are not allowed to advise on tax matters.

Anyone applying for an account can consult a Tax Advisor or refer to the following

website for more information:

- IRAS

https://www.iras.gov.sg/irashome/Individuals/Foreigners/Working-out-your-

taxes/Tax-rates-for-Resident-and-Non-Residents/

- OECD

http://www.oecd.org/tax/automatic-exchange/crs-implementation-

andassistance/tax-residency/

21

1

2

Select Tax Residency from Country List

Link directs to IRAS’ website for more information

The Common Reporting Standard (CRS) is an automatic exchange of

tax and financial information on a global level, developed by the

Organisation for Economic Co-operation and Development (OECD).

3 If “Singapore” is selected as a country of tax residency,

The Tax ID No. (TIN) will be auto-populated.

For Singapore, the TIN is the FDW’s FIN Number

4

FDW Payroll Account Application – CRS Declaration

3

4 If the FDW has more than 1 Tax Residency,

Click on the “Add Country” button to continue selecting

“Add Country” button is disabled after adding 2 countries

FDW Payroll Account Application – CRS Declaration

5

5 If a FDW does not have a TIN in the country selected,

a reason will have to be selected from the dropdown list

These are:

• Country doesn’t have a TIN

• Country doesn’t require the TIN to be disclosed

• Others

FDW Payroll Account Application – CRS Declaration

6

6 If “Others” is chosen as a reason for not having a TIN,

the reason will need to filled in manually

Successful Application – ATM Card Mailer

Type of Card Issued

▪ UnionPay ATM Cards with MWC and CDE marks on reverse side

▪ ATM Card is NETS 2.0 enabled and entitles customer to privileges

offered under the Centre for Domestic Employees (CDE)

Membership – www.cde.org.sg/cdemembership

Unionpay

• Withdraw money directly from POSB / DBS accounts at overseas ATMs• Pay overseas at Unionpay-accepting merchants. PIN is required for

transactions

Benefits

NETS 2.0

Greater Convenience for NETS Contactless Payment• Tap and pay for local NETS transactions of up to S$100 island-wide.• No PIN required.• For transactions above S$100, entering of PIN is required.

NETS Account-Based Ticketing (ABT) • NETS ABT anticipated to start Q1 2019. Individual registration required.• Transit on public trains and buses without need for a separate card.• Fares debited directly from savings/current account. No tops up required.

Exception Handling Mailer – For Unsuccessful applications

Exception Handling Process

▪ An exception mailer sent to the FDW will direct her to any POSB branch for assistance

▪ Should Employer / FDW call in, EAs should redirect them to the nearest POSB branch for account opening

▪ There are a few reasons why account opening may have been unsuccessful:

– Details in Bank Records do not match

– FDW holds an existing POSB Payroll Account

– Inaccurate information provided

The list is not exhaustive and it is advisable for the FDW to head down to any of the POSB branches

▪ Advise Employer / FDW to bring along the following:

– Exception mailer

– Passport with more than 6 months’ validity

– MOM In-Principle Approval Letter (Helper’s Copy) / Work Permit

Mobile Update – via ATM

▪ FDWs can update their Mobile number at the ATM

▪ Upon activation of her ATM Card, the FDW will come across this screen upon keying in her PIN

▪ Select “Update Mobile Number” and follow the instructions

▪ She will receive an SMS Acknowledgement upon successful update

Mobile Update – via AXS Machine

▪ FDWs can also update their Mobile number at the AXS Machine

▪ At the main screen, select the icon

▪ Select “Services for Work Permit account holders”

▪ Select “Update Mobile Number Request” and follow the instructions

▪ She will receive an SMS Acknowledgement upon successful update

POSB jolly – Introduction

POSB jolly helps workers manage their account, remit money overseas and top up their prepaid SIM

cards easily. No more queuing at the ATM for your basic banking needs or at remittance centres. What’s

more, they do not need a data plan or Wi-Fi to use these services. Banking via SMS made simple.

Everyday Banking

➢ View account balance and transaction history in one tap. Top up prepaid SIM cards if they run out of

stored value.

Remit Channel

➢ Send money, track transfer and add payee anywhere, anytime. Choose how the recipient receives the

money – cash collection or account transfer.

These services are available for POSB/DBS customers with a current or savings account and must have their mobile number registered with the bank.

Download the POSB jolly™ app

from Google Play Store!

POSB jolly – Registration

▪ Users will need to key in their Passport Number / Malaysian IC Number

▪ They will also need the last 4 digits of their POSB Bank Account

▪ An SMS OTP will be sent to their mobile number registered with the bank to be keyed in

▪ Upon successful registration, there will be a pop up screen

▪ *Note: POSB jolly is currently only available on Android Phones

1

2

Successful Registration!SMS OTP

3

3Passport Number / Malaysian IC Number

Last 4 digits of POSB Bank Account

1

2

POSB jolly Remittance Setup

(B) Bank to Cash Pickup▪ Via POSB jolly

▪ Set Up

1) Sender Details

2) Payee Details

3) Confirmation

▪ Receive a Pin to be sent to Payee to collect in Cash

(A) Bank to Bank Transfers▪ Via AXS

▪ Set up

1) Payee Name

2) Payee Nickname

3) Address

4) Contact

5) Bank Account Details

Payee Details

▪ Remittance currency

▪ Payee nickname and

personal particulars

Main Menu

▪ Select “Add

MoneyGram Payee”

My Details

▪ Own personal

particulars

Confirmation ~ Submit

▪ Select “Submit” to

accept the terms &

conditions

Note: mobile number used must be registered with the bank