Details

Cash management services

Reduce delays associated with realising outstation cheques, and free yourself from constant tracking and follow-up of transfer of funds from outstation collection accounts with our Cash Management Services. We offer a comprehensive range of collection solutions to meet your requirements, including collection & clearing of local/outstation cheques, post-dated cheque management, e-alert facility for returned cheques, detailed report on all cheque collections and returns.

Online tax payment facility

Pay your Excise, Service, VAT and Direct taxes online by completing a simple application form. With this facility, your account is automatically debited and funds are remitted to the tax authorities. You will receive an acknowledgement immediately after the amount has been debited from your account.

E-alert facility for ITT/OTT and RTGS transactions

You can now view inward/outward TT and RTGS advice delivered to your inbox automatically. Complete transaction details are captured in the advice, relieving you of the hassle of tracking and monitoring transactions.

Additional Features
  • Free Business debit card offering from MasterCard
  • Free RTGS transactions through S2B
  • Free Online salary upload through S2B
  • Free National Electronic Funds Transfer through S2B
  • Free anywhere banking facility from 100 branches
  • Free cheque pick-up once a day*
  • Free Demand draft at more than 14,000 locations
    (Standard Chartered bank and correspondent banks)
  • Free Anywhere banking facility

FAQs

    • What is a Smart Business Account?
      Smart Business Account is an innovative new Current Account wherein there is no need to maintain an average balance. It provides convenience and flexibility by freeing up precious funds in your current account to be used for your growing business.

      The Account requires you to use the account for a minimum 10 lakhs of collections of business credits every month. A monthly fee is charged only if the business credits in a month fall below this threshold.

    • What are the key features of a Smart Business Account?
      • Freedom from minimum balances
      • Provides progressively lower charges for various transaction fees, as you route more of your business credits through this account
      • Three tiers of pricing based on the amount of business credits every month
      • Consolidated monthly billing advice
      • Comprehensive range of cash management solutions for SMEs
      • Doorstep banking facility with cheque pick-up
      • Convenience of e-alert services for all NEFT, RTGS and remittance transactions
      • Online Tax Payment (Excise, Service, VAT and Direct Taxes) Facility
      • Business Clients MasterCard Debit Card specially suited to your business needs with customised limits and available even for joint operating mandate
    • What are the variants under a Smart Business Account?
      The rigidity of variants does not apply to this account. Our account Provides progressively lower charges for various transaction fees, as you route more of your business credits through this account There are Three tiers of pricing based on the amount of business credits every month.
      • Upto 10 lakh
      • 10 Lakh to 40 Lakh
      • Above 40 Lakh
    • What accounts for Business Credit Transactions
      • Inward local bank e-transfers (NEFT and RTGS transfers)
      • Inward local cheques
      • Inward foreign cheques
      • Book transfers
      • Cash deposits
      • Inward telegraphic transfers (covering SWIFT and transfers between Standard Chartered accounts)
    • How will I know my Pricing Tier
      Based on the total business credits in a month, the pricing tier would be arrived at the beginning of next month. Transactional charges as applicable would be levied thereon.
      For your ease of book-keeping, your transaction charges are conveniently consolidated and reflected in the Billing Advice, which will be sent to you via email every month

    • Which entities are eligible for a Smart Business Account offering?
      • Sole proprietors / proprietorship firms
      • Partnership firms
      • Public and Private companies (including closely-held limited companies)
      • Others such as Professionals, Trusts, Associations, Societies etc
    • How can I open a Smart Business Account?
      You need to submit the following documents at the time of opening your account:
      • Account opening form
      • Most Important Document
      • Individual and Entity KYC documents
      • Documents depending on the facilities sought (eg. trade, internet banking, doorstep banking)
      • You will be advised of any other documents required at the time of application by the salesperson

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Disclaimer

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