2. What are the services offered in CIMB Biz-Channel?
Based on the services subscribed, organization users can accomplish these tasks using CIMB Biz-Channel:
Account Management
Account management allows customers on-line, real-time and secure access to information through CIMB. With this service, you can:
- View account statements and details of transactions
- View historical data up to a specified period of time with search function ability
- Statement downloads in various formats for ease of bank account reconciliation and seamless intergration to your accounting systems
- Cheque status inquiry, stop cheque inquiry and cheque book inquiry.
Accounts Payable Management
Accounts payable management solutions aim to expedite payments in the most cost-efficient manner to enhance a corporate's purchase-to-pay cycle with the following solutions:
- e-Payroll including salary credits, EPF, LHDN, SOCSO and ZAKAT
- IBG-MEPS
- Standing Instructions
- Banker's Cheques
- Demand Drafts
- RENTAS
- Telegraphic Transfers
- Government Payment Services
- B-to-B Payments
- FPX Payments
Accounts Receivable Management
An accounts receivable management solution focuses on providing cost-efficient solutions to enhance a company's order-to-cash cycle. Value for funds and information flows for account reconciliation are enhanced via the following solutions:
- Collection inquiry module
- Bill Payment Service
- FPX collections
- Reconciliation
Liquidity Management
CIMB's liquidity management structures allow companies to centrally manage their liquidity in order to reduce interest expense, cost of borrowing and maximize yields from excess funds.
The automated sweep structure offered by CIMB will allow our customers full control and flexibility to enhance their liquidity management requirement.
- Cash Concentration
- Reverse Sweep
Trade Finance Reports
Trade Finance Reports allow customers on-line and secure access to review and monitor the various transactions done up to a specified period of time. With this service, you can have:
- Summary of daily request status by product and user
- Transaction status report submitted and approved
- Transaction history report
- Loan interest report
- Matured and overdue bills report
- Facilities outstanding report
Letters of Credit
A Letter of Credit is a written undertaking given by a Bank to a seller (local or foreign) to the effect that the Issuing Bank will pay the seller a certain amount stipulated in the credit, provided that the seller complies with the terms and conditions of the Letter of Credit.
- Foreign Letters of Credit
- Domestic Letters of Credit.
Trust Receipt
Trust Receipt is a facility to finance documents against: -
- Letters of Credit or.
- Inward Bills for Collection
- Open Account basis
Loans, Deposits, Foreign Exchange(FX) / Money Market (MM)
The loans feature gives you access to the different type of loans and credit card that you have with CIMB. Our drill down capabilities allows you to have complete and detailed information of your existing loans and credit cards portfolio.
Fixed deposits feature gives you access to all the information on your fixed deposits that you have with CIMB. You have access to essential information relating to the interest rates, tenure period and the exact maturity date of all your fixed deposits.
Foreign exchange features gives you access to your foreign exchange outstanding contracts, foreign exchange expiry and foreign exchange utilization for all the different product types such as spot purchase and sales, forward purchase and sales that you hold with CIMB.
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