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 Chartered 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 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.
Interest optimisation 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.
Receivable Management solution provides clients an automated reconciliation by looking at its receivables via connection to its ERP.
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