Payments
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. Business Online payment features
You can access the following payment capabilities within Business Online:
- Online payment and transfers
- Payments can be made from all transaction accounts
- Payments can be created 30 days in advance; they will be stored in the system and released for payment on the defined action date
- Transfers can be made between your own accounts
- Transactions initiated on Business Online after the published cut-off times for a specific day will automatically be warehoused and released for processing on the next business day
- To facilitate multiple (bulk) payments, you can upload payment batches online through a range of proprietary formats which can be audited and authorised
Third-party payments
- Third-party payments: Domestic currency
- Payments made to customer beneficiaries locally in the domestic currency, which could be ad hoc or payments required on a recurring basis
- Third-party payments: Foreign currency
- Payments made to customer beneficiaries locally or cross border in a foreign currency, which can be ad hoc or recurring payments
- When making foreign currency payments, Business Online provides you with indicative rates, giving you a sense of the rate at which the transaction will be made. However, the actual transaction will be processed at that day’s rate
- You have the option to make payments using a forward exchange contract, which would need to be negotiated with the bank’s treasury department
- Payments can be made ‘one-to-one’, ‘one-to-many’, ‘many-to-one’ and ‘many-to-many’
Manage your beneficiaries online
- Easily make online payments to new and existing beneficiaries. You can add beneficiaries on an ad hoc basis to facilitate a once-off payment, as well as pre-define and store regular beneficiaries for supplier and salary payment runs.
- To maintain full security, the self-service beneficiary capability has a full set of control features that protect against fraud, including access control to create or amend authorisation of changes by another user, and an audit history of changes.
Beneficiary management FAQs
- How do I make payments to beneficiaries?
- Using the Payments and Transfers feature, you can create payment instructions that include a combination of both ad hoc and pre-defined beneficiaries.
- How many beneficiaries can I add to Business Online?
- There is no restriction on the number of beneficiaries that can be loaded to your profile. To ensure the channel performs optimally, there are limits on how many beneficiaries can be paid in a single payment instruction.
- How can I add beneficiaries online?
- New beneficiaries can be added either by capturing the details individually online through the BOL self-functionality or by uploading a file containing bulk beneficiary information. All changes and new additions will follow the defined authorisation process for the user, based on the client’s configuration.
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Business Online payment features
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Third-party payments
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Manage your beneficiaries online
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Beneficiary management FAQs
You can access the following payment capabilities within Business Online:
- Online payment and transfers
- Payments can be made from all transaction accounts
- Payments can be created 30 days in advance; they will be stored in the system and released for payment on the defined action date
- Transfers can be made between your own accounts
- Transactions initiated on Business Online after the published cut-off times for a specific day will automatically be warehoused and released for processing on the next business day
- To facilitate multiple (bulk) payments, you can upload payment batches online through a range of proprietary formats which can be audited and authorised
- Third-party payments: Domestic currency
- Payments made to customer beneficiaries locally in the domestic currency, which could be ad hoc or payments required on a recurring basis
- Third-party payments: Foreign currency
- Payments made to customer beneficiaries locally or cross border in a foreign currency, which can be ad hoc or recurring payments
- When making foreign currency payments, Business Online provides you with indicative rates, giving you a sense of the rate at which the transaction will be made. However, the actual transaction will be processed at that day’s rate
- You have the option to make payments using a forward exchange contract, which would need to be negotiated with the bank’s treasury department
- Payments can be made ‘one-to-one’, ‘one-to-many’, ‘many-to-one’ and ‘many-to-many’
- Easily make online payments to new and existing beneficiaries. You can add beneficiaries on an ad hoc basis to facilitate a once-off payment, as well as pre-define and store regular beneficiaries for supplier and salary payment runs.
- To maintain full security, the self-service beneficiary capability has a full set of control features that protect against fraud, including access control to create or amend authorisation of changes by another user, and an audit history of changes.
- How do I make payments to beneficiaries?
- Using the Payments and Transfers feature, you can create payment instructions that include a combination of both ad hoc and pre-defined beneficiaries.
- How many beneficiaries can I add to Business Online?
- There is no restriction on the number of beneficiaries that can be loaded to your profile. To ensure the channel performs optimally, there are limits on how many beneficiaries can be paid in a single payment instruction.
- How can I add beneficiaries online?
- New beneficiaries can be added either by capturing the details individually online through the BOL self-functionality or by uploading a file containing bulk beneficiary information. All changes and new additions will follow the defined authorisation process for the user, based on the client’s configuration.
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