Liquidity management with clockwork precision

Size: px
Start display at page:

Download "Liquidity management with clockwork precision"

Transcription

1 Liquidity management with clockwork precision Cash management and payments Corporate Banking

2 Efficient management of accounts and cash flows Professional management of accounts and cash flows is a key factor in the success of every business. Up-to-date information on your financial status, as well as reliable planning of liquidity developments and their targeted management, are indispensable tools and help to minimise risk. Commerzbank offers you innovative solutions to meet all these needs. Starting point for optimising your cash management is always the individual requirements of your business. Whether the focus is on handling cash collected from your points of sale, interbank management of payments or achieving the best returns from local accounts, the range of Commerzbank services offers all the facilities you need. These include reliable cash in and out payments, account information updated several times a day, multibank payment applications and innovative cash management systems for international companies. Our product range is completed by our practical consulting and advisory services, designed to help you with everything from basic questions to obtaining direct access to the SWIFT network. Commerzbank provides these and many other solutions via our convenient and innovative online Corporate Banking Portal (www.commerzbank.com/corporatebanking). We also offer you software-supported electronic banking solutions and a comprehensive personal service. However you prefer to do business, Commerzbank is always there for you as an expert advisor and provider of cash management and payment services.

3 Contents I 03 Contents Cash and treasury management: Taking control of your cash flows 04 Cash management Cash pooling Payments: Right on target National and international payment transactions SEPA SWIFT Global Transaction & Routing Service Cards Cash 06 Information management: Always up to date Account information Bank information 10 The Commerzbank advantage: Individual solutions Tender & Client Projects 11

4 04 I Cash and treasury management Cash and treasury management: Taking control of your cash flows The purpose of cash management is to continuously track and manage financial flows within and beyond your company. Ideally, you should have all basic data and analyses available to you at the touch of a button. This is precisely what Commerzbank offers from electronic account information, through web-based cash and treasury management tools, right up to innovative cash pooling solutions. The key objectives of cash management Cash management Cash management: the control center of corporate finance Optimal management of liquidity and cash flows can be a major challenge. You need to precisely track movements on each individual account and identify potential interest costs or income and not just retrospectively. In addition to the fastest possible information on revenue trends, you need to be able to reliably plan incoming and outgoing payments. Only then is financial planning able to maximise your interest income and prevent liquidity gaps occurring before they arise. An enormous amount of information needs to be recorded, processed and consolidated. Rapid provision is essential in ensuring that your reporting is not out of date before it has even been completed. Minimise risk Secure liquidity Increase profitability Commerzbank s cash management solutions provide you with targeted support for managing your liquidity, including: Information procurement and processing Management of current liquidity deployment and planning Management of foreign exchange and money market business To facilitate this process, we also give you access to a web-based, country and crossborder interbank application. Detailed information about this service can be found in the Commerzbank brochure Providing the right impetus. Web-based and software-based banking. Cash pooling : optimising local accounts Cash pooling refers to the consolidation of liquidity within a company. A central financial management system is used to help optimise a company s accounts in terms of interest, investment conditions and deployment potentials of company or group accounts. Commerzbank offers you needs-related cash concentrating solutions for both your domestic and foreign Commerzbank accounts, as well as for accounts held at other banks in other countries.

5 Cash and treasury management I 05 Cash concentrating Liquidity in national Commerzbank accounts can be consolidated in many currencies, provided that the local and central accounts are both held in the same currency. A highly effective cash concentrating process is also available to you for many countries for cross-border cash concentrating with accounts held at foreign branches of Commerzbank. And even if you work with different banks in foreign markets, you can still benefit from a central liquidity management system. Commerzbank s international cash concentrating process will reliably transfer your cash to the target account you specify. You can also define your own transaction parameters (e.g. transfer to pool only when a certain minimum amount is reached, or keep a given minimum balance in the local account). Margin optimisation This virtual pooling method is an interest rate optimisation without physical cash compensation, which includes cross-border and cross-currency solutions. All participating accounts remain legally and functionally independent and continue to show balances. Cash concentrating Local account branch 1 Local account subsidiary 1 Central account Whether you choose national or international cash concentrating or margin optimisation, Commerzbank ensures optimal use of your liquidity. By offsetting your debit and credit balances, you can also improve your interest position and exploit opportunities for short-term investment and borrowing of liquidity via focused volumes. Local account branch 2 Local account subsidiary 2 Whether branch or subsidiary accounts, all can be included in cash concentrating. Margin optimisation is based on a fixed uniform reference interest rate, plus or minus a variable margin. The respective margins of this interest optimisation method are calculated on the basis of the ratio of balances of all participating accounts. The resulting compensation factor is decisive for the optimisation of your interest income.

6 06 I Payments Payments: Right on target The contract has been signed and the goods delivered. Now the invoice has to be paid in cash or by credit card, direct debit, cheque or bank transfer. Whether your operations are national or international, successful business requires efficient, reliable and transparent processing of payment transactions beyond bank and national borders. Commerzbank has aligned its portfolio of services precisely to meet these requirements. Many methods of payment Commerzbank offers you a variety of electronic solutions for submitting your payment orders. In addition to national and international payments, we can also via our domestic and foreign branches offer express transfers and bulk payments. Our involvement in many national and international clearing systems ensures a fast and efficient processing and helps you to optimise your payments. We offer you a range of internet-based solutions with a wide variety of functionalities. Among other services, these include a multibank application that can be accessed from any PC with internet access using a USB stick, a facility to optimise your bulk payments, and various conversion options. If you prefer software-supported applications, we have a solution for that as well. You can find more information in our brochure Providing the right impetus. Webbased and software-based banking, which can be requested from your Commerzbank contact person. Electronic solutions have long since become the norm and have almost completely replaced paper-based mandates. Whether you process your payment transactions with electronic banking software, via SWIFT (Society for Worldwide Interbank Financial Telecommunication), or using Commerzbank s Corporate Banking Portal, we always have the right solutions available. You will also benefit from our international presence in more than 50 countries and across a network of about 5,000 correspondent bank connections worldwide. SEPA opens up new opportunities Since early 2008, as a result of the Single Euro Payments Area (SEPA), no distinction has been made between foreign and domestic transfers, debits and card payments within the single European market. You can process national and cross-border bulk payments denominated in euros within the SEPA zone in the same way. Because of this, companies are in a better position than ever before to exploit the advantages of the common market not just with cross-border payment transactions. The payment transaction landscape has become further standardised, which is a positive development even for companies whose core business focuses on their respective domestic markets. SEPA enables businesses to tap savings potential and improve efficiency simply by making a few technical and organisational adjustments.

7 Payments I 07 The complexity of these adjustments depends, among other factors, on whether you use standard software or your own unique solution to process payments. Commerzbank was actively involved in shaping the process of a uniform eurozone payment system, and we are happy to share the knowledge we have gained in this area with you. Our offer includes: Information about SEPA, including all details and background information Recommendations for implementing the new framework conditions for SEPA payments Provision of reliable and efficient SEPA instruments Continued operation of the previous payments systems for a transitional period If you would like more detailed information, your relationship manager or specialist at Commerzbank will be happy to help. You are also welcome to visit our Corporate Banking Portal online (www.commerzbank.com/sepa). A direct line to banks Any company requiring a direct line to banks throughout the world can process its payment transactions with the most diverse of banks using the SWIFT network. Founded over 30 years ago in Belgium as a cooperative between banks with international operations as a way of providing a secure transfer process for cross-border payment transactions, the SWIFT network today covers more than 200 countries and offers far more than just payment data transfer. The company made a name for itself in the credit economy as a standardiser and financial data transfer expert. The SEPA 4-Corners Model Payer Mandate 2 Payee 3 Product conditions Clearing & settlement 4 Product conditions Payer s bank uses bound to 5 1 Uses tied to scheme rules 5 uses bound to Payee s bank Example flow chart of a SEPA direct debit.

8 08 I Payments Commerzbank can support you in using the global SWIFT network to process your payments. Whether or not connection is advisable in any given case depends primarily on the communication channels your company currently has access to, the requirements you have for payment transactions and whether SWIFT access adds value to your business from a cost/benefit perspective. Commerzbank specialists support you in reaching this decision and, should you decide to take this route, help you with the subsequent implementation of corporate SWIFT access. With the SWIFT Concentrator Service, Commerzbank offers you a simple and costeffective connection into the SWIFT network. You do not need your own SWIFT infrastructure. Instead, you can use our third-partyfriendly White Labelling outsourcing solution. Global transaction & routing service The Commerzbank Global Transaction & Routing Service helps you to use changes in the European payment system to your best advantage and to compete successfully in the market. Our international network offers comprehensive services from a single source and direct access to local and global clearing systems. By using the latest technologies, we are able to offer you innovative products and services for your local and international payment transactions. Using your preferred payment instruments and formats, our customised solutions help to optimise your incoming and outgoing cash flows. We take care of handling your urgent payments, large-value payments and bulk payments both locally and internationally. It is also possible to effect direct debits from accounts held in a number of countries, including timely and standardised information on any direct debit returns. The system checks all incoming mandates and converts them on demand into international or country-specific formats. We combine key modular solutions such as ISO formats and the recommended CGI standard to create customised SEPA+ packages for our clients which go beyond processing bulk payment transactions in euros and optimise cash flow. Payment transaction files are electronically signed and transferred centrally to Commerzbank ensuring faster availability and greater flexibility for international bulk payment transactions. Your benefits: Single Entry Point: one input channel and one format Run-time optimisations for credit transfers and direct debits Handling of your large-value, express and local bulk payments and direct debits High safety standards thanks to futureoriented platforms and services No conversion software or local electronic banking connection required Uniform and cross-border automated billing Direct access to multiple local and pan- European clearing systems

9 Payments I 09 Cards welcome Credit card acceptance is a must these days, and offers advantages for you as a retailer and for your customers. It eliminates the need to work with change and process cheques, and also reduces the risk of theft or robbery. Commerzbank s service allows your customers to pay without cash in stores and mobile sales units. The service for retailers includes card terminals for all common payment types, which can be purchased or rented, and end-toend processing of payments. Commerzbank is of course also happy to advise you in choosing appropriate payment methods (electronic cash/girocard online or offline, cash cards, credit cards, Maestro cards and electronic debiting) and solutions for terminals. Flexible and independent business travel With the Commerzbank Corporate Card, you can save time and money when preparing, paying for, billing and evaluating business travel. This service combines credit cardbased payments with access to a state-of-theart online management information system. When you travel on business, you and your employees can pay conveniently and without commission at over 30 million MasterCard partners worldwide. If necessary, you can withdraw cash worldwide at over two million ATMs. You and your employees also benefit from an extensive package of insurance offering optimum protection. From the cashbox to your account For companies that regularly generate substantial cash receipts, it is important that the cash is transported securely to the bank and promptly deposited. If company cash is brought to the bank by your employees, they can use combined deposit and withdrawal machines and cash-in terminals at Commerzbank service locations. These are generally available around the clock, including on Sundays and public holidays. Commerzbank SafeBags make transporting cash even more secure. Once these bags are sealed to transport the counted cash, they cannot be opened without incurring visible damage. In addition, your cash is insured for up to 25,000 euros per transport when you transport it directly to your Commerzbank branch in a SafeBag. Alternatively, you can have your cash proceeds picked up and credited by a cash transport company. Commerzbank s partner for this service is SoltrX Transaction Services GmbH (STS), a wholly owned subsidiary of Commerzbank. With our online management information system, you can also evaluate all spending on your firm s Corporate Card and process the data electronically.

10 10 I Information management Information management: Always up to date Has your customer s money transfer already arrived? Do you have enough funds in your account to pay your suppliers bills early at a discounted rate? Up-to-date account information gives you answers to questions like these and more. Commerzbank has developed individual solutions for interbank and cross-border transactions that can be accessed through our Corporate Banking Portal or via electronic banking. In addition, Commerzbank s information services are available to you when you want to assess the value of your business relationships. Updated several times a day Commerzbank s electronic SWIFT- and CAMT-format account information is updated several times a day. The electronic banking software gives you full access to transaction information for your Commerzbank accounts in Germany and abroad, as well as to your other accounts with foreign banks. Account information can also be accessed over the internet. Intraday account information shows neartime transactions to give you an up-to-date overview of liquidity, which creates the best conditions for efficient cash management and optimised short-term liquidity planning. Other advantages: Direct processing option in financial accounting systems Prompt automatic balancing of debtor/ creditor accounting Automatic balancing of open positions through separate listing of credit and debit entries Assessing your business partners To accurately assess and value your business relationships, you are well advised to regularly inform yourself about your business partners. As a Commerzbank customer, you benefit from our network and evaluation expertise, and receive fast and reliable banking information about the economic situation of all your debtors, irrespective of the different banks with which these companies hold their accounts. The up-to-date assessment of your business partners creditworthiness and solvency gives you a decisive advantage in the evaluation of your receivables portfolio and also for the assessment of your suppliers, significantly reducing default risks. In addition to banking information, our cooperation with partner companies within the Commerzbank Corporate Banking Portal also provides you with access to economic information and the identification and addresses of debtors.

11 The Commerzbank advantage I 11 The Commerzbank advantage: Individual solutions Commerzbank s consulting and advisory services extend far beyond product solutions alone. You can also benefit from Commerzbank s recognised comprehensive cash management expertise for implementing individual concepts that are precisely tailored to your needs. Tender & Client Projects: support without borders Your business is active on the world stage and you are looking for a cross-border solution to optimise your cash and treasury management? Commerzbank s Tender & Client Project Team will work with your cash managers to develop concepts that are tailor-made for your business s precise needs. Because we collaborate closely with our international branches and partner banks, we are very familiar with local particulars on markets around the world. Make the most of this expertise: our specialists will show you how cross-border and interbank solutions can be optimised and put these improvements in place for you. Our Tender & Client Project Team will also be on hand to support you during implementation as a central contact point and project coordinator. In this way, we ensure that everything goes smoothly and you receive a high-quality service from day one to the end of your project with us.

12 Correct as at: 04/2014, VKS05052 For more detailed information concerning cash management and payments, our relationship managers for corporate clients as well as our specialists are at your disposal. They can also provide you with brochures for the following topic: International business Commerzbank AG Corporate Banking

SEPA - Frequently Asked Questions

SEPA - Frequently Asked Questions SEPA - Frequently Asked Questions Contents SEPA Overview Questions... 2 What is SEPA?... 2 What is the aim of SEPA?... 3 Where did SEPA come from?... 3 What countries are included in SEPA?... 3 What currencies

More information

Route planner for your global trade

Route planner for your global trade Route planner for your global trade International business Corporate Banking Building bridges, opening doors Internationalisation can provide important stimuli for company growth. However, expanding your

More information

Business On Line. The complete online package for your business

Business On Line. The complete online package for your business Business On Line The complete online package for your business Manage your cash flow wherever you are Controlling your cash flow is crucial to the success of your business. At Bank of Ireland we understand

More information

Payment solutions for individual clients. Swiss ways and customs

Payment solutions for individual clients. Swiss ways and customs ab Payment solutions for individual clients. Swiss ways and customs Contents Introduction to payments in Switzerland 05 How can I make day-to-day payments without using cash? Maestro card 06 Credit cards

More information

Schedule of fees and charges for business customers

Schedule of fees and charges for business customers Schedule of fees and charges for business customers Effective 23 February 2015 Bank of Ireland is regulated by the Central Bank of Ireland. 37-560RU.35(02/15) Schedule of fees and charges Contents Introduction

More information

TOURISM INNOVATIVE PAYMENT SOLUTIONS. Efficient, flexible, worldwide and secure

TOURISM INNOVATIVE PAYMENT SOLUTIONS. Efficient, flexible, worldwide and secure TOURISM INNOVATIVE PAYMENT SOLUTIONS Efficient, flexible, worldwide and secure 2 THE FUTURE OF PAYMENT FOR THE TOURISM AND TRAVEL BUSINESS The PERFECT PARTNER Wirecard is one of the world s leading independent

More information

SEPA as a driver for streamlining receivables

SEPA as a driver for streamlining receivables SEPA 2.0: Opportunities and challenges after the end-date by Luca Poletto, BNP Paribas Five years after the go-live date of the first Single Euro Payments Area (SEPA) instrument, we are in the last sprint

More information

TARGET2 a single Europe for individual payments. Department Payments and Settlement Systems

TARGET2 a single Europe for individual payments. Department Payments and Settlement Systems a single Europe for individual payments Department Payments and Settlement Systems Page 2 TARGET2 single technical platform for processing urgent euro payments TARGET2 is the real-time gross settlement

More information

THE WORKING CAPITAL CYCLE IN INTERNATIONAL TRADE

THE WORKING CAPITAL CYCLE IN INTERNATIONAL TRADE THE WORKING CAPITAL CYCLE IN INTERNATIONAL TRADE Introduction The working capital cycle is the period of time which elapses between the points at which cash is used in the supply/production process, to

More information

for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA

for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA Version 5.0 - February 2014 for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA All you need to know about SEPA EPC Shortcut Series* Shortcut to SEPA Shortcut to the SEPA Direct Debit Schemes Shortcut

More information

The complete online package for your business

The complete online package for your business The complete online package for your business Bank of Ireland is regulated by the Central Bank of Ireland. 37-1322R (01/16) Manage your cash flow wherever you are Controlling your cash flow is crucial

More information

Business On Line. The complete online package for your business

Business On Line. The complete online package for your business Business On Line The complete online package for your business Manage your cash flow wherever you are Controlling your cash flow is crucial to the success of your business. At Bank of Ireland we understand

More information

Form Payments statistics (formerly form-9006)

Form Payments statistics (formerly form-9006) Form Payments statistics (formerly form-9006) General The report contains data on payments, specifically payments between consumers, businesses and the government. As of July 2014, this report implements

More information

MAYBE STATE-OF-THE-ART: INTERNATIONAL CASH MANAGEMENT

MAYBE STATE-OF-THE-ART: INTERNATIONAL CASH MANAGEMENT MAYBE STATE-OF-THE-ART: INTERNATIONAL CASH MANAGEMENT 2 3 TABLE OF CONTENTS INTRODUCTION 5 PAN-EUROPEAN PRESENCE OF UNICREDIT GROUP 6 UniCredit Group The first truly European bank 7 Cash Management and

More information

A Guide to Using HiFX

A Guide to Using HiFX A Guide to Using HiFX Welcome to HiFX Whatever your international payments needs, HiFX gives you access to consistent bank beating exchange rates and the ability to arrange international money transfers

More information

Corporates. Current Account Overview of Prices and Conditions for Companies

Corporates. Current Account Overview of Prices and Conditions for Companies Corporates Current Account Overview of Prices and Conditions for Companies October, 205 Business Easy Package Simple and geared towards your needs as a small business, our comprehensive banking package

More information

INTERNATIONAL. Helping your money travel around the world. International payments travel money and CHAPS. Talk to us today

INTERNATIONAL. Helping your money travel around the world. International payments travel money and CHAPS. Talk to us today INTERNATIONAL Helping your money travel around the world International payments travel money and CHAPS Talk to us today Access your money, at home and away Maybe you have family overseas and want to send

More information

Pricing as at January 2014

Pricing as at January 2014 Transactional Accounts Pricing still gives you real value for money in 2014 One way to maximise your business profit is to minimise your business expenses. To help you with that, we have once again kept

More information

ibank, ibank Plus & ibank Saver INTERNATIONAL BANKING SERVICES For a life beyond boundaries

ibank, ibank Plus & ibank Saver INTERNATIONAL BANKING SERVICES For a life beyond boundaries ibank, ibank Plus & ibank Saver INTERNATIONAL BANKING SERVICES For a life beyond boundaries About Barclays Wealth At Barclays Wealth we have developed a different approach to financial services. We understand

More information

Streamline End-to-End Payment Processes on a Central Platform

Streamline End-to-End Payment Processes on a Central Platform SAP Brief SAP for Banking SAP Payment Engine Objectives Streamline End-to-End Payment Processes on a Central Platform Extend and simplify payment processes Extend and simplify payment processes Financial

More information

Telecom Expense Management

Telecom Expense Management Telecom Expense Professional Cost Group Ltd. Control your costs Manage your assets Transform your business Visit us online: www.pcmg.co.uk/tem Your Challenges. For most companies, fixed and mobile communications

More information

A guide to business cash flow management

A guide to business cash flow management A guide to business cash flow management Contents 01. Cash flow management 01 02. Practical steps to managing cash flow 04 03. Improving everyday cash flow 06 04. How to manage cash flow surpluses and

More information

E-COMMERCE, MAIL AND TELEPHONE ORDER INNOVATIVE PAYMENT SOLUTIONS FOR RETAIL AND MAIL ORDER

E-COMMERCE, MAIL AND TELEPHONE ORDER INNOVATIVE PAYMENT SOLUTIONS FOR RETAIL AND MAIL ORDER E-COMMERCE, MAIL AND TELEPHONE ORDER INNOVATIVE PAYMENT SOLUTIONS FOR RETAIL AND MAIL ORDER Wirecard is a flexible partner who supports our international growth efforts substantially by providing country-specific

More information

Switching your Business Current Accounts

Switching your Business Current Accounts Switching your Business Current Accounts Summary of the Key Features of the Account Switching Code for Business customers Bank of Ireland ("New Bank") can facilitate all the steps required in order to

More information

Single Euro Payments Area

Single Euro Payments Area Single Euro Payments Area Overview SEPA (Single Euro Payments Area) is a European payments initiative which aims to create one single, integrated, standardised payments market in Europe. It is an area

More information

International money transfer 101

International money transfer 101 International money International money Today we live in a marketplace that s truly global. Constant digital innovations have made overseas trading and purchasing easier than ever. And with 200 million

More information

365 Phone, Online and Mobile Banking Terms and Conditions - Republic of Ireland Effective from 25 th November 2013

365 Phone, Online and Mobile Banking Terms and Conditions - Republic of Ireland Effective from 25 th November 2013 365 Phone, Online and Mobile Banking Terms and Conditions - Republic of Ireland Effective from 25 th November 2013 1.0 Definitions of Terms used in this Document 2.0 Accounts 3.0 Mandates 4.0 SEPA Transfers

More information

Outstanding Prospects for Your Company Software Solutions from DATEV. A Service Provided by Your Tax Advisor

Outstanding Prospects for Your Company Software Solutions from DATEV. A Service Provided by Your Tax Advisor Outstanding Prospects for Your Company Software Solutions from DATEV A Service Provided by Your Tax Advisor Welcome to DATEV! Companies that utilize DATEV solutions not only benefit from first-class software

More information

Classic Account. With you when you want a good all rounder.

Classic Account. With you when you want a good all rounder. Classic Account With you when you want a good all rounder. You ll find everything you need to know about your new Classic Account in the following pages. Welcome 1 Your Bank of Scotland debit card 2 Choose

More information

Billing & Payment. Secure and comprehensive: from order to cash.

Billing & Payment. Secure and comprehensive: from order to cash. Billing & Payment Secure and comprehensive: from order to cash. Billing & Payment by Swiss Post Solutions «Generate more sales by offering your customers new ways of paying. Simplify and optimise your

More information

CHAPTER V. OTHER ACTIVITIES OF THE BANK OF ALBANIA

CHAPTER V. OTHER ACTIVITIES OF THE BANK OF ALBANIA CHAPTER V. OTHER ACTIVITIES OF THE BANK OF ALBANIA V.1 PAYMENT SYSTEM Objectives of the system One of the main tasks of the Bank of Albania (pursuant to the Law On the Bank of Albania ) is the encouragement

More information

SEPA. Frequently Asked Questions

SEPA. Frequently Asked Questions SEPA Frequently Asked Questions Page 1 of 13 Contents General SEPA Questions... 4 What is SEPA?... 4 What is the aim of SEPA?... 4 What are the benefits of SEPA?... 4 What countries are included in SEPA?...

More information

The e-commerce solution

The e-commerce solution Payment Services The e-commerce solution Your key to successful online business 2 The right choice for online and omni-channel payments Omni-channel is the amalgamation of different selling channels that

More information

One for All How Companies Can Benefit from the Standardised ISO 20022 CGI Format for Global Payments

One for All How Companies Can Benefit from the Standardised ISO 20022 CGI Format for Global Payments One for All How Companies Can Benefit from the Standardised ISO 20022 CGI Format for Global Payments November 2013 by Thomas Keim, Senior Consultant, Hanse Orga The standardised ISO 20022 CGI message format

More information

Innovative Financial Services: more than banking...

Innovative Financial Services: more than banking... Innovative Financial Services: more than banking... 2 The power of banking E D I T O R I A L Wirecard Bank AG combines the best of two worlds: the service and depth of performance of a traditional bank,

More information

1. Definition of cash components

1. Definition of cash components Opinion n 2015-06 of 3 July 2015 relating to Central Government Accounting Standard 10 Cash Components On 3 July 2015 the Public Sector Accounting Standards Council adopted this Opinion relating to Central

More information

Xerox in Financial Services

Xerox in Financial Services Xerox in Financial Whether it s through document management or a number of outsourcing services, we can help Financial companies meet their unique business challenges in new ways with measurable results.

More information

The successful introduction of a payment factory

The successful introduction of a payment factory Global Transaction Banking The successful introduction of a payment factory Implementing integration solutions based on best-practice components The purpose of this white paper The white papers published

More information

CenTRXs Central Transaction Services SaaS and BPO services for international banks

CenTRXs Central Transaction Services SaaS and BPO services for international banks We make your business move CenTRXs Central Transaction Services SaaS and BPO services for international banks > CenTRXs Central Transaction Services In today's dynamic markets, banks must act quickly and

More information

SYLLABUS CertICM. Edition 8

SYLLABUS CertICM. Edition 8 SYLLABUS CertICM Edition 8 OVERVIEW CertICM focuses exclusively on global cash management, allowing students to appreciate the importance of and techniques relevant to cash management for corporate treasury.

More information

ACCOUNT CHARGES. Your account charges explained

ACCOUNT CHARGES. Your account charges explained ACCOUNT CHARGES Your account charges explained September 2013 Account charges To put your business in greater control we d like to fully explain your business banking fees. Here we ll outline how our charges

More information

Schedule of Services. Payment and International Banking Charges

Schedule of Services. Payment and International Banking Charges Schedule of Services Payment and International Banking Charges Contents International Drafts and Payments Euro 3 International Drafts and Payments Non Euro 6 Bureau de Change 7 Collections 8 Bonds, Guarantees

More information

EESTI PANK ANNUAL REPORT 2001

EESTI PANK ANNUAL REPORT 2001 EESTI PANK ANNUAL REPORT VI. PAYMENT AND SETTLEMENT SYSTEM The monetary stability as well as efficient and stable financial sector established as the objectives of Eesti Pank presume a payment and settlement

More information

Fees and service charges explained. Business Accounts

Fees and service charges explained. Business Accounts s and service charges explained Business Accounts Correct as at 1 June 2015 Contents Page Explanation of some of the terms we have used in this leaf let 1 Transaction and maintenance or package fees and

More information

Position Paper - Acquirers. acquire. maximum business advantage. from new EU Regulation on interchange. fees for card-based payment transactions

Position Paper - Acquirers. acquire. maximum business advantage. from new EU Regulation on interchange. fees for card-based payment transactions Position Paper - Acquirers acquire maximum business advantage from new EU Regulation on interchange fees for card-based payment transactions The payment landscape has changed a lot over the last few years.

More information

Payment solutions for individual clients in Switzerland

Payment solutions for individual clients in Switzerland UBS AG P.O. Box 8098 Zurich www.ubs.com ab This brochure is intended for information purposes only. The services mentioned herein are subject to legal restrictions in some countries and can therefore not

More information

Welcome to your Business Debit Card

Welcome to your Business Debit Card Help for what matters Welcome to your Business Debit Card Start using your new Business Debit card today This leaflet explains the features and benefits of your new Business Debit card. Please take a few

More information

Guatemala, March 2006.

Guatemala, March 2006. MODERNIZATION OF THE NATIONAL PAYMENT SYSTEM Guatemala, March 2006. MODERNIZATION OF THE NATIONAL PAYMENT SYSTEM I. CONCEPTUAL ASPECTS ABOUT PAYMENT SYSTEMS: 1. The payment system is the group of institutions,

More information

welcome to desjardins the leading cooperative financial group in canada

welcome to desjardins the leading cooperative financial group in canada welcome to desjardins the leading cooperative financial group in canada 04 welcoming you. guiding you. making your life easier AT DESJARDINS, WE CAN HELP YOU BECOME SETTLED IN CANADA. WE VE CREATED THIS

More information

Sales success through optimised processes from branch to head office. Retail Software Solutions

Sales success through optimised processes from branch to head office. Retail Software Solutions Sales success through optimised processes from branch to head office Retail Software Solutions Introduction Finely fitted targeted expertise from the global partner for retail success MICROS-Retail, the

More information

Your Partner for European Payment Processing

Your Partner for European Payment Processing Your Partner for European Payment Processing A state-of-the-art platform built to support European diversity We believe that SEPA and domestic instruments will co-exist for some time, and both need to

More information

Pricing as at January 2015

Pricing as at January 2015 Transactional Accounts Pricing still gives you real value for money in 2015 One way to make the most of your business profit is to reduce your expenses. To help you with that, we have once again kept our

More information

FULL SERVICE FOR NON-CASH PAYMENTS IN EUROPE

FULL SERVICE FOR NON-CASH PAYMENTS IN EUROPE FULL SERVICE FOR NON-CASH PAYMENTS IN EUROPE EVO in Europe: essential facts As a Visa and MasterCard Principal Member, EVO offers international debit and credit card acceptance and transaction processing

More information

The role of banks to support the SME s business models in the international landscape

The role of banks to support the SME s business models in the international landscape The role of banks to support the SME s business models in the international landscape Liliana Fratini Passi ABI - Secretary General CBI Consortium Member - UN/CEFACT TBG5 Member of Expert Group on E-Invoicing

More information

Types of Payment Systems and Instruments

Types of Payment Systems and Instruments Welcome to the Public Awareness column prepared by the Reserve Bank of Fiji. This month s article introduces the types of payment mechanisms available in Fiji and how they work. Types of Payment Systems

More information

Rules for international payments

Rules for international payments Payments to foreign countries If you have to pay an amount to a person or a firm abroad, it is of course important that payment is made on time, in the agreed currency, and with as low charges as possible.

More information

Solution Summary: Payments centralisation

Solution Summary: Payments centralisation Solution Summary: Payments centralisation Companies of all sizes, across a wide range of industries, profiles and geographies are increasingly seeking to centralise business support functions such as finance,

More information

time to get started Intuit QuickBooks Online Quick tips to get you up and running Create and manage invoices Track expenses See how you are doing

time to get started Intuit QuickBooks Online Quick tips to get you up and running Create and manage invoices Track expenses See how you are doing Intuit QuickBooks Online time to get started Quick tips to get you up and running Create and manage invoices Track expenses See how you are doing See inside to learn how you can get the most out of QuickBooks

More information

TOP TRUMPS Comparisons of how to pay for goods and services online

TOP TRUMPS Comparisons of how to pay for goods and services online Cash Cash is legal tender in the form of bank notes and coins Small value purchases e.g. cafes, shops Pocket money Repaying friends Cash is physically transferred from one person to the next, usually face-to-face

More information

Schedule of fees and charges. for business customers

Schedule of fees and charges. for business customers Schedule of fees and charges for business customers Effective June 2011 Contents Introduction 1 Business current account fees and charges explained 2 Types of fees and charges 2 Notification of fees and

More information

Pricing as at January 2016

Pricing as at January 2016 Standard Bank still gives you real value for money in 2016 One way to make the most of your business profit is to reduce your expenses. To help you with that, we have once again kept our annual pricing

More information

Rates for business transaction services. Letting you know where you stand

Rates for business transaction services. Letting you know where you stand Rates for business transaction services Letting you know where you stand All charges at a glance What rates and fees does ING charge for business transactions? This brochure provides an overview of the

More information

I. Details of bottlenecks in the management of trade receivables and liabilities before TSU:

I. Details of bottlenecks in the management of trade receivables and liabilities before TSU: Standardised confirmation of receivables: TSU a new (bank) solution with plenty of potential By Herbert Broens, Head of Export Department Bayer AG Contact: Herbert.broens@bayer-ag.de or Herbert.broens@t-online.de

More information

Trends and Best Practices in Electronic Payments

Trends and Best Practices in Electronic Payments Trends and Best Practices in Electronic Payments Trends and Best Practices in Electronic Payments Over the last year, we have seen a fundamental paradigm shift in the strategies and priorities of our

More information

Your account charges explained.

Your account charges explained. Your account charges explained. To ensure you have everything you need to know about our charges, this brochure has been designed to let you know when and how they will be applied. The charges and tariffs

More information

Credit cards explained

Credit cards explained Credit cards explained What is a credit card? As its name suggests, a credit card lets you buy things on credit meaning that you don t need to have the money upfront to pay for your purchases. If large,

More information

EMP's vision is to be the leading electronic payments processing company in the emerging markets of Africa and the Middle East.

EMP's vision is to be the leading electronic payments processing company in the emerging markets of Africa and the Middle East. EMP's vision is to be the leading electronic payments processing company in the emerging markets of Africa and the Middle East. EMP's mission is to be at the forefront of the region's electronic payments

More information

Bank Wizard. Comprehensive payment data validation and verification

Bank Wizard. Comprehensive payment data validation and verification Bank Wizard Comprehensive payment data validation and verification Introduction The Bank Wizard product family enhances payment efficiency and helps reduce payment fraud with a comprehensive suite of bank

More information

E-commerce. ICICI Bank offerings

E-commerce. ICICI Bank offerings E-commerce ICICI Bank offerings 2015 ICICI Bank Market leader Largest Private Sector Bank in India Wide reach 4,050+ branches and 12,665+ ATMs Presence in 19 countries Global footprint First Indian Bank

More information

THE SINGLE EURO PAYMENTS AREA (SEPA) AN INTEGRATED RETAIL PAYMENTS MARKET

THE SINGLE EURO PAYMENTS AREA (SEPA) AN INTEGRATED RETAIL PAYMENTS MARKET THE SINGLE EURO PAYMENTS AREA (SEPA) AN INTEGRATED RETAIL PAYMENTS MARKET Contents Foreword 3 Introduction 4 1. Creating SEPA 5 Overview of SEPA 5 Stakeholders 5 Why SEPA? 6 What has been achieved so far?

More information

HSBC Your Guide to SEPA. Capitalising on the opportunities

HSBC Your Guide to SEPA. Capitalising on the opportunities HSBC Your Guide to SEPA Capitalising on the opportunities Executive Summary Developed by the European Payments Council, the Single Euro Payments Area or SEPA expands on the vision behind the Euro to establish

More information

Caribbean Electronic Payments

Caribbean Electronic Payments Caribbean Electronic Payments Company Profile Caribbean Electronic Payments Ltd. 1-13 Contents Introduction... 3 Mission & Core Values... 5 CEPAYMENTS Mission... 5 Our Core Values... 5 Innovation... 5

More information

Cross-Border Payment Systems and International Remittances

Cross-Border Payment Systems and International Remittances Cross-Border Payment Systems and International Remittances Seminar Improving Central Bank Reporting and Procedures on Remittances Mexico City, Mexico, July 11-14, 2006 José Antonio García The World Bank

More information

Supporting your foreign exchange needs. Search

Supporting your foreign exchange needs. Search Supporting your foreign exchange needs Understanding Foreign Exchange (FX) risk Trading internationally offers UK businesses the opportunity to buy and sell goods and services in a much larger marketplace.

More information

Business Banking. Our business is banking, what s yours?

Business Banking. Our business is banking, what s yours? Business Banking Our business is banking, what s yours? You have picked up this brochure because you either have your own business or are planning on starting up on your own. At Bank of Ireland, we have

More information

FusionBanking Trade Innovation Software overview. Operational excellence in trade finance. Trade automation to transform service

FusionBanking Trade Innovation Software overview. Operational excellence in trade finance. Trade automation to transform service FusionBanking Trade Innovation Software overview Operational excellence in trade finance Trade automation to transform service To ensure continued success in Asia and to support our domestic clients more

More information

We ve started the Cash Management Revolution

We ve started the Cash Management Revolution We ve started the Cash Management Revolution CASH360 G4S is the world's leading provider of security solutions, operating in over 100 countries across six continents with a workforce of around 600,000

More information

Ibais for Brokers Copyright BA Insurance Systems Pty Ltd. March 2009

Ibais for Brokers Copyright BA Insurance Systems Pty Ltd. March 2009 Ibais for Brokers ibais for Brokers This is the main ibais form Note the simple interface and the use of internet standard navigation and the use of individual Favourite s button for ease of use. ibais

More information

Payment statistics 2014, reporting template

Payment statistics 2014, reporting template Payment statistics 2014, reporting template The data for this table in respect of 2014 is to be reported to the Bank of Finland in the first quarter of 2015. This workbook is not made for reporting, but

More information

Moving from Sage 50 Accounts to Sage 200 Standard Online

Moving from Sage 50 Accounts to Sage 200 Standard Online Moving from Sage 50 Accounts to Sage 200 Standard Online 2 Contents Contents Software that grows with your business...4 Straightforward online accounting...5 Reasons to upgrade...6 Financials - Managing

More information

1. July 2016. Corporates: Current Account Overview of Prices and Conditions for Companies

1. July 2016. Corporates: Current Account Overview of Prices and Conditions for Companies 1. July 2016 Corporates: Current Account Overview of Prices and Conditions for Companies Business Easy Package Business Easy is the full-service offer for small and mediumsized businesses. It includes

More information

Citi. Integrated Freight Processing for the U.S. Government. A powerful e-solution for managing and paying transportation-related expenses

Citi. Integrated Freight Processing for the U.S. Government. A powerful e-solution for managing and paying transportation-related expenses Citi Integrated Freight Processing for the U.S. Government A powerful e-solution for managing and paying transportation-related expenses Finally a better way to receive, audit and pay freight invoices

More information

Asia Market Intelligence Hong Kong SAR

Asia Market Intelligence Hong Kong SAR Asia Market Intelligence Hong Kong SAR Presence The Hongkong and Shanghai Banking Corporation Limited (HSBC) is one of the largest banks incorporated in the Hong Kong Special Administrative Region (SAR).

More information

ING Service for SWIFTNet. 1A single gateway for your financial information!

ING Service for SWIFTNet. 1A single gateway for your financial information! ING Service for SWIFTNet 1A single gateway for your financial information! ING Service for SWIFTNet ING Service for SWIFTNet offers you the possibility to send and receive financial information anywhere

More information

Gold Bank Account Helping you to simplify International Banking

Gold Bank Account Helping you to simplify International Banking GOLD BANK ACCOUNT Gold Bank Account Helping you to simplify International Banking At Santander Private Banking, we are committed to providing a consistently high level of service. We focus on building

More information

Corporate egateway Supports a centralised payment and collection factory

Corporate egateway Supports a centralised payment and collection factory Corporate Supports a centralised payment and collection factory Corporate is Nordea s file based mass payment service for customers demanding one point of entry for bulk payments and collections in the

More information

Payment transactions and account management. Our best conditions for you

Payment transactions and account management. Our best conditions for you ₈₉ Payment transactions and account management Our best conditions for you ₈₉ 01 The right payment order for you Whether you make payments in Swiss Francs or foreign currencies we offer you a wide range

More information

GUIDE TO CORPORATE FOREIGN EXCHANGE

GUIDE TO CORPORATE FOREIGN EXCHANGE GUIDE TO CORPORATE FOREIGN EXCHANGE FOREIGN EXCHANGE & INTERNATIONAL PAYMENTS Founded in 2000, Currency UK has helped thousands of businesses move billions of pounds around the globe. Our focus on delivering

More information

Global CASHplus A New Level of Service in Transaction Banking

Global CASHplus A New Level of Service in Transaction Banking Global CASHplus A New Level of Service in Transaction Banking Offer your clients easy access to data and transactions through the first advanced architecture approach to dashboard cash management. A New

More information

Marcus Evans 6th Annual Liquidity Management Conference 2007 The Impact of SEPA on Cash Management Products and Services

Marcus Evans 6th Annual Liquidity Management Conference 2007 The Impact of SEPA on Cash Management Products and Services Marcus Evans 6th Annual Liquidity Management Conference 2007 The Impact of SEPA on Cash Management Products and Services The views expressed in this presentation are those of the author and do not necessarily

More information

The Hospitality Solution

The Hospitality Solution Payment Services The Hospitality Solution For the restaurant industry For you and your guests: the Hospitality Solution from SIX Table of contents SIX Payment Services 04 The customer experience 05 The

More information

Cash Solutions. Making cash flow. G4S Cash Solutions, and what we can do for you

Cash Solutions. Making cash flow. G4S Cash Solutions, and what we can do for you Cash Solutions Making cash flow G4S Cash Solutions, and what we can do for you Making your cash count for more Efficiency is everything in a climate like this. Tough economic conditions, rising costs and

More information

Simply successful communication.

Simply successful communication. Corporate Business Simply successful communication. Inbound & Interactive Services solutions for perfect call management. Achieving targets more quickly Make communication a success factor. Do you want

More information

Treasury Advisory Services Stability through effective financial risk and liquidity management. Audit. Tax. Consulting. Financial Advisory.

Treasury Advisory Services Stability through effective financial risk and liquidity management. Audit. Tax. Consulting. Financial Advisory. Treasury Advisory Services Stability through effective financial risk and liquidity management Audit. Tax. Consulting. Financial Advisory. Treasury Health Check Identify gaps and benchmark to make informed

More information

CAF Bank features and benefits

CAF Bank features and benefits CAF Bank features and benefits Thank you for choosing CAF Bank for your everyday banking needs. If you have any questions please do not hesitate to call our Customer Services team on 03000 123 456. About

More information

IBM Financial Services Sector. IBM Payment Platform to face SEPA A flexible approach for a Smarter Bank

IBM Financial Services Sector. IBM Payment Platform to face SEPA A flexible approach for a Smarter Bank IBM Payment Platform to face SEPA A flexible approach for a Smarter Bank Market Forces Driving the Payments Industry to Transform Economic Pressures Increasing pressures on fees Margins being squeezed

More information

SMART PAYMENTS - BETTER DECISIONS BANK ACCOUNT MANAGEMENT E BANK ACCOUNT MANAGEMENT BEST PRACTICES IN BANK ACCOUNT MANAGEMENT. www.tis.

SMART PAYMENTS - BETTER DECISIONS BANK ACCOUNT MANAGEMENT E BANK ACCOUNT MANAGEMENT BEST PRACTICES IN BANK ACCOUNT MANAGEMENT. www.tis. SMART PAYMENTS - BETTER DECISIONS E BANK ACCOUNT MANAGEMENT BANK ACCOUNT MANAGEMENT BEST PRACTICES IN BANK ACCOUNT MANAGEMENT www.tis.biz CONTENT 1. Introduction...2 2. Corporates and the ebam Project...2

More information

Or What makes Canadian Banking different?

Or What makes Canadian Banking different? CANADIAN BANKING Sharing a Border Or What makes Canadian Banking different? Ray Kohler Senior Relationship Manager, US Markets RBC Royal Bank 1 Agenda Understand the basic differences between Canadian

More information

5 POINTS TO CONSIDER WHEN CHOOSING YOUR PAYMENT SYSTEM

5 POINTS TO CONSIDER WHEN CHOOSING YOUR PAYMENT SYSTEM G R E AT E R T R A N S PA R E N C Y, R E D U C E D R I S K S A N D O N E M I L L I O N E U R O S AV I N G S P E R Y E A R 5 POINTS TO CONSIDER WHEN CHOOSING YOUR PAYMENT SYSTEM The payment processes in

More information

User Manual Internet Banking Enter and Send Orders

User Manual Internet Banking Enter and Send Orders This manual of ABN AMRO Internet Banking describes how to enter payment orders, stock orders, investment orders and how to send your orders to the bank. You can enter a maximum of 45 orders for dispatch.

More information