Is it a better idea to set up GIRO for credit card payments? Or manually make payment each month? - Seedly

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Asked by Anonymous

Asked on 18 Aug 2019

Is it a better idea to set up GIRO for credit card payments? Or manually make payment each month?

Read that there are pros & cons. E.g. With GIRO, your annual fee is automatically charged. Payment may be counted as late, since GIRO deduction is only 2 days after payment due date. Wrongly incurred transactions will also be automatically paid for. But GIRO is more convenient in case you forget to make payment.

What's your thoughts? And are any of the abovementioned pros / cons false? Found them from reading the Seedly forum and other blogs.


Answers (4)

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I don't GIRO my credit card payments since I wish to retain control to an extent: I always check my statements and make sure they are correct before paying.

However, this does require a certain level of discipline, but you'll be able to catch any suspicious transactions and you can call and dispute before paying.

If you fear missing a payment, then GIRO is probably better, but I would still check my statements once they are ready.


Level 3. Wonderkid
Answered on 21 Aug 2019

No, I don’t do GIRO for credit card payments. I always double-check my transactions before paying up. And by paying manually, it allows me to know how much I really spent. I find this way it’s better than just letting GIRO deduct the amount coz sooner or later you won’t be bothered of how much you spent.

I set several reminders for the due date and have a habit of paying early so late payment is not an issue.


Xue Yi Hang
Level 4. Prodigy
Answered on 20 Aug 2019

I GIRO all my cards so yes if you're not careful, your bank balance may be too low and the GIRO won't go through, resulting in late charges (it's usually first or second time you can apply for a waiver).

But I do still go through my statements every month before the due date as a discipline, so I know where my money is going and it also prevents the GIRO from failing since I am prepared for the bill.


Serene Toh
Serene Toh
Level 6. Master
Updated on 20 Aug 2019

I don't GIRO my Payments, as it is better to review statements before payments, so you can dispute transactions in a timely manner. GIRO will tend to make people lazy to look at statements, so they might not catch errors in time. (I don't think there will be late payment if your payment is recorded as paid through GIRO though)

I will set a fixed date to pay all my credit card bills, e.g end of the month. Usually, this will be before the payment due date. It works for me partly as I don't wait for the bill to make my payments. I will record my own transactions on Seedly app. During my set payment date, I will cross check my recorded transactions against the card recorded transactions and pay based on what I have spent instead of what is on the bill. So sometimes, I will end up paying more than the bill, as I've included the payment for items in the following month's bill.