Your company’s bank accounts and PayNow will be used for your payments and transactions.
To add a bank account, complete the following steps:
1. Click Request to add bank information.
2. In the Request to add bank information panel, fill in the bank account information and upload supporting documents. The supporting documents can be a bank statement or a screenshot displaying your organisation name and bank account number.
3. Click Submit to submit the request. The bank account will be added to your bank information once the request is approved.
After the bank account is added, you can select Set as default to set a bank account as the default account for your payments and transactions with bank transfer. There can only be one account configured as default.
Apart from adding bank accounts, you can also submit requests to edit or delete the added bank accounts in My wallet.
To edit your bank account information, complete the following steps:
1. Click Request to update bank information on the top right of a bank account section.
2. Select Edit.
3. In the Edit bank information panel, edit the bank account information.
4. Click Submit to submit the request. The bank account information will be updated once the request is approved.
To delete a bank account from My wallet, complete the following steps:
1. Click Request to update bank information on the top right of a bank account section.
2. Select Delete.
*Note: The bank account termination request will not affect transactions that are already in progress. However, ensure that you provide another bank account so that future transactions can be processed smoothly.
3. In the confirmation window, click OK to submit the bank account deletion request.
Under PayNow information, you can update your organisation’s PayNow information including whether you have registered the PayNow account with your company UEN.
To edit your PayNow information, complete the following steps:
1. Click Edit on the top right of the PayNow information section.
2. Indicate whether you have registered PayNow with your company UEN. If so, turn on the toggle and enter the Suffix code, if applicable.
3. Click Save to save your configurations.
•Q1: What is the information in My wallet used for?
A1: All information provided in My wallet is used for authorised billing transactions between the company and the course providers, including invoicing or refund purposes.
•Q2: Can a company have multiple bank accounts?
A2: Yes, a company can have multiple bank accounts, but the company needs to configure one of the accounts as the default account for billing transactions. Other provided bank accounts are the non-default bank accounts for transactions.
•Q3: My corporate PayNow account can only receive payments or refunds but cannot be used for making payments. If I provide my corporate PayNow info under My wallet, does it mean our course payments can only go through PayNow? Currently, our process for payment still requires invoice billed to company.
A3: Payment modes can be selected upon checkout within company portal. The PayNow information that you fill out in the company wallet profile is purely for refund purposes.
•Q4: What is the PayNow suffix code?
A4: PayNow Corporate allows companies to receive payments with just Unique Entity Number (UEN), without the need to disclose any account numbers. Company that would like to receive funds via PayNow to multiple bank accounts can create multiple PayNow proxies and link them to different accounts, by adding a 3-digit alpha-numeric suffix (only capital letters and numbers are accepted) to the entity’s UEN. If your company has made such arrangement with your bank, please enter the suffix in My wallet > Bank information > PayNow information. Otherwise, leave the field blank.