Cash management

Standard Bank offers a range of cash management solutions customised to meet our clients’ specific account management, payments, collections and liquidity management requirements, both domestically and internationally. Our solutions are designed to help both our business and our corporate customers manage their working capital requirements more effectively and efficiently.

To read more about cash management across Africa download the brochure and fact sheets below.

To read about currency capabilities to meet your African FX requirements download the brochure below.

For all new business queries contact cash.management@standardbank.co.za

 

Account management

Standard Bank offers a range of account types to suit your company's individual requirements. Resident and non-resident accounts are available in 15 African currencies with the ability to transact in a further 20 non-African currencies (more currencies can be added, if required).

We offer the following account types:

  • Current accounts
  • Investment / deposit and savings accounts
  • Money market accounts
  • Loan accounts
  • Accounts for financial institutions
  • Foreign currency accounts
Payments

Standard Bank’s payment solutions ensure that our clients’ payments are implemented accurately and on time. Payments can be made electronically via a range of secure data transfer channels, or physically by means of cash, cheque or card.

Our electronic payment solutions enable our clients to:

  • Initiate payments from remote locations in South Africa, Africa and globally
  • Make single or bulk payments, for same day value or future value
  • Make local or foreign currency payments from a single point of origin
  • Transfer funds easily between Standard Bank accounts in your own global banking portfolio
  • Submit your tax filing (South Africa only)
  • Generate comprehensive reports
  • Advise beneficiaries proactively when payments have been made

Cash facilities are available for your float, payroll and petty cash requirements. Distribution of cash is handled by our extensive network of branches and cash centres throughout Africa.

Standard Bank is able to generate cheques for single and bulk payments in high or low volumes. A bank generated cheque dramatically reduces the risks associated with the signing of handwritten cheques.

Our corporate card facility provides a convenient payment method for all business expenses. Detailed statements ensure our clients maintain control and keep track of their overheads, and simplify accounting and auditing processes. The card is accepted by more than 30 million merchants and 900 000 ATMs internationally.

As an additional service, Standard Bank is able to issue guarantees of payment to our clients’ creditors where required.

Collections

Standard Bank’s collection solutions ensure value is passed to your accounts as quickly and securely as possible, and that enough information is provided for you to identify the source of any funds entering your accounts.

Our range of collection solutions include:

  • Direct debit: Funds are pulled electronically from your debtor’s account for credit to your bank account
  • Cash collection via numerous channels, including AutoSafe (a secure cash accepting terminal that counts, verifies, validates and secures bank notes in a tamper-proof container on your premises), branches and cash centres. Click here to learn more about Autosafe.
  • Teller on site: A team of bank tellers handle receipting and counting of cash on your premises
  • Cheque collection
  • Foreign currency receipts
  • Merchant acquiring service: A facility that allows our clients’ customers to pay by credit or debit card.
Liquidity management

Services offered by our liquidity management team include:

  • Notional pooling and sweeping products, which are available on request through the Standard Bank network in Africa
  • A consolidated view of cash positions across Africa via our electronic banking platform, including the ability to fund or de-fund countries as required
  • An exchange control advisory service which assists with advice on cross-border liquidity management services

Click here for Investor services

Present, Collect and Reconcile seamlessly with MyBills from Standard Bank

Collecting from your customers is often a time-consuming and frustrating process. Chasing outstanding accounts, managing reconciliations and dealing with reversal of payments are some of the challenges facing organisations and institutions that collect from a large base of bill payers.

Standard Bank's MyBills solution allows you to deliver accounts to your customers and collect the funds relating to those accounts via a single, seamless, electronic transaction.

How MyBills works

Once you have signed up for the service, Standard Bank is able to retrieve bills from your systems. Depending on how your systems are configured, you will be able to elect whether bills are retrieved on a real time basis or a scheduled basis. Once retrieved, the bills are automatically matched to your customer.

When your customers log onto their Internet Banking profile they will access their bills by clicking on the MyBills tab. The bill will then be presented to them. They will then be given the option to pay the amount owing, or a portion thereof, directly from their nominated Standard Bank account.

Features and benefits

  • Funds are deposited directly into your account with the correct references, making reconciliation easier and eliminating unallocated receipts.
  • Real time billers are provided with immediate notification when bills are paid.
  • A mark-up file is provided to ensure all bills paid can be reconciled in your systems.
  • Payments can be made on Internet Banking, which means your collection reach extended.
  • This also makes it more convenient for your customers, since the channel is available 24/7.
  • Your customers receive their bills instantly, helping to reduce lead times between sending bills and receiving payment.
  • Once a payment is made it is unlikely to be reversed since the payer actively initiated it.
  • Benefits to your customers include improved flexibility and control, reduced cost and heightened convenience.

For more information on how MyBills can help you to streamline your collections, email transactions@standardbank.co.za

Since Chinese authorities started developing the nation’s currency, the renminbi (RMB), as a currency of international trade, it has been growing in circulation on global markets. Although still fairly regulated, the renminbi is being promoted by the Chinese government as legal tender in deals with foreign companies and institutions.

While not considered a major currency in terms of volume at this time, the RMB’s projected growth as a currency of trade is considerable. As the currency’s global activity grows, it will have an enormous impact on the way we do business in Africa, since China is Africa’s largest trading partner.

The Standard Bank Group was one of the first financial institutions to recognise and focus on the growing relationship between Africa and Asia. Our relationship with Asia, and with China in particular, is underscored by our close ties with the Industrial and Commercial Bank of China, which holds a 20% stake in the Standard Bank Group.

As the largest banking group in Africa, we are well placed to provide payment clearing and trade settlements in the domiciled currency of Mainland China through a centralised solution designed to meet your requirements.

Click here to view the brochure.

To read more on Trade and payment solutions using Renminbi download the below brochure.

Download brochure - Benefits of using the Standard Bank Group's centralised RMB Capabilities.

Client value propositions


Financial institutions

The Standard Bank Group provides a facility for financial institutions looking for RMB settlement solution for their clients in Africa. The facility can also be used to sell currency, hedge currency risks and provide leverage for short-term funding at low rates.

African importers and exporters

The Standard Bank Group allows African importers and exporters to settle Chinese trade deals directly in RMB, reducing foreign currency translation risk, aiding price negotiations, promoting price transparency and providing access to lower-cost funding.

Chinese importers and exporters

The Standard Bank Group’s direct RMB settling facility reduces the need for a pricing buffer against currency fluctuations, lessens the cost of international trade, reduces the need for hedging, and promotes the use of renminbi as a trade currency in line with the Chinese government’s national strategy.

Investors

The Standard Bank Group provides access to a range of RMB (onshore renminbi traded in Mainland China) investment assets such as foreign exchange, money market products, term deposits and bonds. The renminbi market is an attractive investment option both from an appreciation and diversification perspective.

Benefits of using the Standard Bank Group's centralised RMB solutions
 

  • Payments and trade settlements can be initiated on existing channels in RMB, giving you the option of dealing with your Chinese partners in their native currency and aligning with
  • China’s national promotion of the use of the renminbi
  • Importers and exporters can settle trade transactions in Renminbi.
  • RMB clearing through a centralised solution for cash management, payments, trade and client services
  • Direct settlement in RMB reduces foreign currency translation risk
  • Access to RMB loans helps to reduce the cost of funding by improving your working capital cycle and shortening your cash-conversion cycle
  • Foreign currency revenue and cash flows are easier to manage
    The diversification of FX exposure lessens the impact of USD exchange-rate fluctuations on your business

Contact us

For more information on the renminbi service offering, contact your trade sales manager, or email TPSTradesales@standardbank.co.za.

Why talk to us?
  • Standard Bank is the market leader in electronic payments and collections in South Africa, and has been named the best bank in electronic banking in the country by research house BMI TechKnowledge every year since 1993. Our online applications offer a range of solutions  ncluding foreign exchange dealing, international and domestic payments, custody  ommunications and trade in Africa and South America.
  • Robust account management processes help our clients manage their business accounts simply and cost-effectively. Resident and non-resident accounts are available in over 30 currencies. We offer a range of secure communication channels for data transfer, including host-to-host, SWIFT, and South Africa’s number one front end solution, Business Online.
  • Our cash management solutions are supported by a network of over 1 230 branches across Africa.
  • Standard Bank is a Continuous Linked Settlement member . All Standard Bank clients have access to our well-trained support staff. Our dedicated relationship managers provide a single point of entry into our full financial services competencies, and ensure exceptional standards of service at all times.
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Best Treasury & Cash Management Provider in Angola - 2016 2017

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