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| Home : Corporate Banking |
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Cash Management |
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| Making & Receiving Payments |
| We can offer you a range of solutions that would make receiving and making payments in Pakistan and overseas easier and effective. |
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| Collection Services |
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| Comprehensive receivables management solutions |
| Barclays Bank Plc, Pakistan (Barclays) understands your key business concerns, especially when operating and sustaining a profitable business in today's tough environment: |
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- Receivables Management - ensuring efficiency and effective receivables management to ensure optimal utilization of funds
- Cost Management - reducing interest costs and maximizing float gains through optimal utilization of funds and effective receivables management.
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| Our Collections Solution |
| Our Collections Solutions leverage Barclays expertise and extensive network covering over 3,000 locations across the country, using various strategic and business alliances. |
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| The main platform for our Collection Solutions includes the following: |
| 1. Extensive Coverage |
| We have developed an extensive network using our correspondent banks and other strategic alliances across the country to help you manage your collections in a more efficient and timely manner, across the country |
| 2. Comprehensive MI Services |
| We at Barclays understand the importance of timely information about your cash flows. We offer comprehensive MI services as part of our collections solutions to help you manage your cash flows more effectively by matching your payables with your receivables. Our internet banking platform provides visibility on a real time basis, giving you greater control of your cash. |
| 3. Cash In Transit (CIT)* |
| Under this product we offer cash pick up services using an armored vehicle through our strategic alliances |
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| Our Collection Services: |
- Courier pick-up service, which is available for cheques, POs and DDs from your office, dealers' and distributors' offices.
- Clearing of instruments whether local or foreign currency through the clearing houses, directly by Barclays or through our correspondent bank network.
- Data capture of information pertaining to collection of Cash/Instruments and provision of a Daily MI (Pre and Post Clearing Information).
- Multi Level Reconciliation.
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| Please refer to your relationship manager to request a proposal as per your requirements. |
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| *Please check with your Relationship Manager to confirm the availability of this service as this is currently being firmed up. |
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| Effective Solutions to Manage your Payables |
| I. Local Payments |
| Cash, Local Bank Cheques, Demand Drafts, Pay Orders and Faster Payments through Bank to Bank settlement |
| All instruments, except those paid in at the branch on which they are drawn, must go through the local clearing house. This normally takes 3 working days. Using our strategic alliances with other banking and non banking financial institutions we can reduce the cycle time to between 24-48 hours. |
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| II. Quicker Payments |
| Using our alliances for Rupee payments in Pakistan, we offer to send high volume payments that will reach beneficiary account with other bank on the same day. |
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| III. Tax Payments |
| Your tax payments will be processed on the same day and an electronic copy of the Computerized Payment Receipt (CPR) will also be provided the same day. |
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| IV. International Payments |
a. Outbound International Payments/Outward Remittances
Providing a flexible means of sending funds overseas, the service has been specially designed to meet business needs in terms of cost and speed. Payments are sent using an electronic bank-to-bank transfer, which is suitable for both urgent and less time critical payments and enables the secure transfer of funds from Pakistan to overseas beneficiaries, seamlessly. |
b. Inbound International Payments/Inward Remittances
You benefit from a range of cross-border payment services designed to meet your individual business needs. An inbound international payment is also an electronic bank-to-bank transfer and the fastest and most secure method of receiving funds from overseas.
If you wish to receive funds in this way, you should ensure that the overseas payer has your full banking details. You should always provide the payer with your IBAN (International Bank Account Number) and Barclays SWIFTBIC (Bank Identifier Code) which is BARCPKKA. |
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| You can also benefit from reporting services via SWIFT using our MT940 & MT 942 channels to receive statements and keep track of your account activity. |
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| V. Local & International Dividend Payments |
End to end dividend payment solution. With daily MI services giving you pre and post clearing status of dividend warrants. |
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| VI. Royalty/Technical Payments |
| A dedicated SBP Desk will help you with your Royalty/Technical agreements with the Central Bank to enable International and Domestic Royalty Payments. |
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| VII. Structured Payroll Solution |
| End to end salary solution with numerous benefits to your management and employees. |
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| VIII. Corporate Utility Bill Payments |
| Barclays accepts utility bill payments and provides confirmation of payments, offering you ease of payment. |
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| IX. FCY Clearing Services |
| International Bank Cheques for FCY Payments |
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| X. State of the Art Electronic Banking Platform |
| Using our E-Banking platform you can make payments ranging from simple online transactions via Internet banking to Bulk Cheque Printing powered by dual system integration. A dedicated channel manager will be available to help integrate systems along with dedicated relationship and relationship support managers to help customize solutions to help you manage your working capital in amore efficient manner. |
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| For more information related to our products, services and corporate solutions feel free to call us at Telephone: +9221-111-105-555. |
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