TRANSACTIONAL SOLUTIONS

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1 Authorised Financial services and registered credit provider (NCRCP15). The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06). Moving Forward is a trademark of The Standard Bank of South Africa Limited. SBSA /16 TRANSACTIONAL SOLUTIONS

2 TRANSACTIONAL SOLUTIONS Introduction Cash flow management is vital for the growth of your business and you need easy-to-use transactional solutions that enable you to improve your customer collections, make deposits, withdrawals and payments conveniently and efficiently. Our transactional solutions offer flexible, holistic products and services that remove the administrative burden from your business, giving you collection, local and international payment and business account solutions that meet your unique transactional needs. 2 3

3 TRANSACTIONAL SOLUTIONS Did You Know? Business Current Account Maximise transacting convenience, minimise time spent on administration We all know that more time spent on administrative tasks means less time for delivering on core priorities. When you open a Standard Bank Business Current account you ll enjoy the time-saving benefits and convenience of having your account executive meet with you at your business to understand your needs and will act on your fax, phone or instructions by. Our Business Current account not only gives you a secure way of paying and collecting funds, but also acts as a gateway to other tools and services such as Internet banking services through our Business Online platform to provide you with convenience, security and ease in transacting so that you can focus on what s really important: Moving your business forward. A Business Current account is simple to manage and allows you to transact in the way that is most convenient for you. The account is linked to a Business AutoBank card, enabling you to access all our banking channels, do your banking on the Internet, by telephone, cell phone and at our AutoBank machines as well as pay for business purchases at merchants displaying the Maestro sign. The security features built into your Business AutoBank card let you issue cards to as many employees as you need. You are also able to manage the monthly limits on the cards. Depending on your credit rating, you ll have access to an overdraft and a range of business lending solutions through your Business Current account. You can use your account to make third-party and future-dated payments through the Business Online Internet banking platform, and for standing payment orders and/or debit orders. There is no minimum balance needed for a Business Current account. There is no opening deposit or minimum balance required for a Business Current Account. However, to avoid penalties and to prevent the account even being closed, ensure that there is always enough money in the account to cover payments as well as fees. 4 Third Party Fund Administration account Earn competitive interest on third-party managed funds We offer a specialist account solution to attorneys, asset managers, property managers, chartered accountants, estate agents and other organisations that are required to comply with regulations when holding third-party funds. Third Party Fund Administration (TPFA) is an electronic investment and transactional solution that offers competitive interest rates along with the flexibility to manage third-party funds. Interest rates are calculated on the full balances on all of your TPFA accounts. You also have the flexibility of determining customer-defined limits so that you can control funds being released from your account. A TPFA account gives you the ability to decide the interest rate you want to pass to your client, thereby offering the potential to create an additional revenue stream for your firm. Attorney s Trust account Hold funds in trust on behalf of clients while meeting regulatory requirements If you need to deposit client funds for safekeeping and disbursement, as governed by the Attorneys Fidelity Fund and the law societies, then an Attorney s Trust Account caters specifically for the needs and legal requirements of a practicing attorney or firm of attorneys. You can also have charges deducted (less VAT) from gross interest earned on trust balances to be swept to a law society. This investment and trust account solution offers an automated sweeping facility that deducts the net interest and sweeps it to the law society of your choice. Executor s Current account Manage the financial records of your clients while winding up their financial affairs If you have been appointed as a third party to wind up the financial affairs of your client s personal and business entities, then you ll need an Executor s Current account to help you manage and control the relevant financial records. 5

4 TRANSACTIONAL SOLUTIONS Business Online Gain more control over your payments and collections for improved business efficiencies As you grow your business, you need an electronic solution to help you manage your business more efficiently. Business Online offers you advanced security and global access, allowing you to make and receive payments and collections for both domestic and international payments from a single, easy-to-use platform, saving you time so that you can focus on what s really important to you: Moving forward. Advanced security ensures that you can arrange your payment workflow to build the correct authorisation and limits for your users, with audit trails and report monitoring capabilities. Global access gives you access to multiple currencies across Africa in the markets we serve. Company Deposit Identifier Reduce time spent reconciling payments with missing or incorrect references An error or omission of a payment reference makes it challenging to correlate payments to the correct customer account. Our Company Deposit Identifier (CDI) solution helps you to easily identify the electronic payments made to your account by customers. This facility ensures that references are captured correctly and conform to the format that you stipulate. Your company name is listed as a preloaded beneficiary on Business Online, enhancing your corporate identity. You also have improved certainty when receiving your collection as payments received from this service cannot be disputed. Account Verification Service Pay your local and international suppliers conveniently from one easy-to-use platform Cutting costs while improving work procedures and optimising working capital are essential for any growing business. Our electronic payment solutions offer your business a cost-effective and comprehensive range of domestic and cross-border payment solutions from a single platform. Verify your customers account details before receiving collections Account verification enables you to verify your customers account holder information across participating banks in South Africa before processing collections. This ensures that your customer has given you the correct banking details, minimising the chances of debit orders not being fulfilled. The system checks a number of information points and verifies that the account in question is active. International banking solution Take control of your exports and imports and improve your cash flow with our Trade and Forex solutions. Our solutions can help you to strengthen your position and handle the risks associated with international trade. With our significant presence in African and international markets, our team of experienced international trade managers can advise you on foreign exchange risk arising from market volatility and structure international banking solutions to suit your specific business needs, ensuring that you continue to expand into new markets and move your business forward. 6 7

5 PAYMENT SOLUTIONS Inter-account transfers View all your accounts and move funds as and when you need A clear idea of your financial position is essential for improved management of your business working capital requirements, such as ordering inventory, raw material, acquisitions/expansion and investments. Our solution enables you to transfer funds easily between your accounts, allowing you to quickly identify surplus funds that you can use more effectively in your business. Same-Day Value Service Pay your suppliers on the same day you process the payment If you need to manage high-volume bulk payments and process them on the same day, then the Same-Day Value Service gives you a convenient solution to paying beneficiaries on the same day that you process their payments. Same-Day Value Service debits your account and credits your beneficiaries accounts on the same day. Your beneficiaries will see the incoming funds on the same-day if they are Standard Bank customers, or the next day for other banks. Pay Alert Inform your beneficiaries of payments made Pay Alert allows you to send your beneficiaries a fax, or SMS when you have released their payment, ensuring that there are no delays in receiving your goods or services. 8 9

6 PAYMENT SOLUTIONS Real-Time Clearing Make urgent payments that reflect in your beneficiaries accounts in a matter of seconds Your business needs flexibility when it comes to making payments, and the need for sudden or urgent processing of payments is part of doing business. You need a solution that gives you that flexibility. Real-Time Clearing is an electronic payment solution for your time-critical payments. Overnight Process bulk payments overnight at reduced rates If you process large volumes of transactions through the Same-Day Value Service you can choose to process your payment batch overnight. The Overnight solution offers lower rates as your bulk transactions are processed in off-peak time. All beneficiaries receive value on action date with sight the next day. Bulk electronic funds transfer Make bulk payments to beneficiaries on the action date you specify If you want to make bulk payments to beneficiaries on a date that you specify, Bulk Electronic Funds Transfer allows you to select a future date on which payments will be released. SARS efiling Simplify your tax payments and easily track and query transactions We offer you a convenient way to pay the South African Revenue Service (SARS). You can submit your tax forms via the Interfile website and make electronic payments via SARS efiling. This gives you a simple and easy way to track and query your payments electronically

7 COLLECTIONS SOLUTIONS Gain more control over your collections for improved cash flow Minimise the internal administrative burden of following up on payments by implementing an Electronic Collections system through Business Online. This flexible solution enables you to initiate once-off or recurring debits from your customers accounts. The benefits? Accelerated collection process, reduced administration and more predictable cash flow cycles. Same-day debit order Receive your collections on the same day you process them If you want the certainty of receiving your collections on the same day that they are loaded, so that you can better manage your business working capital, then a same-day debit order (Same-Day Soonest Value) gives you the flexibility to load collections on the day they run without the restriction of a lead time. Future debit order Receive your collections on a future date that you choose If you want funds collected from your customers accounts on a future date that you specify, then a future debit order (Due date debit order) gives you the flexibility to decide on a due date. This gives you a lead time to send transactions for processing and better forecast your cash flow requirements. Early debit order Get paid first by ensuring your debit orders are processed ahead of other debits on your customers accounts If your business collects from customers with a history of failed collections, then consider an early debit order collection solution. A Non-Authenticated Early Debit Order (Naedo) is processed directly after salaries and wages are credited to your customers accounts. Early debit orders are given priority and queued ahead of other regular debit orders due for processing. Did You Know? You can process multiple batches each day with a due date debit order solution. These early debit order transactions are randomised before processing to create an equal and fair opportunity for all billers to recover payments due from the account. The Naedo facility also provides your financial team with tracking technology that monitors available funds in a debtor s bank account. This means your debit order will be initiated as soon as funds become available in the account. Our solutions are closely aligned to regulatory requirements and we will give you guidance on implementing the correct compliance measures in your business

8 TAKE THE NEXT STEP If you are an existing Standard Bank customer with a Business Current account and you are interested in our solutions, please contact your appointed account executive. If you would like more information about our transactional solutions, please visit Terms and conditions apply. 14