Corporate Cheque Outsourcing is when the customer wants to remove all noncore functions and reduce operational risk by outsourcing their cheque issuance function to a Third party. Although Standard Charted Bank is issuing the cheques on behalf of the customer, these instruments are not guaranteed and subject to available funds at the time of clearing. Only the beneficiary name is required to issue a Corporate Cheque.
Inward Telegraphic Transfer and Inward RTGS Sweeping Pooling International Bank Cheques Standing Orders Premium Services Banking & Cash Pick-up and Delivery (PSBCP) ESCROW Virtual Accounts
Inward Telegraphic Transfers are used to receive payments from another bank in foreign currency. Inward RTGS is used to receive payments in local currency from local Banks. Funds are credited to client account upon confirming cover of the relevant remittance.
Sweeping involves the physical transfer of debit and credit balances of accounts in same currency denomination to or from a master account on a periodic basis in such way that the balances of all participating sub accounts finally are transferred to a master account.
Notional cash pooling is based on the fictive consolidation of account balances - there are no real movements of funds between the accounts. Credit and debit balances on the accounts concerned are notionally brought together and offset to establish a net position for the calculation of interest.
International Bank Cheques are used make payments in foreign currency to another Bank. International Bank Cheques are guaranteed instrument. Customers are debited upfront when the cheques are issued. Only the beneficiary name is required to issue an International Bank Cheque.
This is an instruction given by the Customer to Standard Charted Bank to pay a beneficiary a regular amount of money on a periodic basis.
PSBCP comprises Cash, Cheque and Document Collection & Delivery, and provision of mobile teller services or teller implants. The services are selectively offered to customers for convenience,