Payables and receivables must be carefully managed to ensure the smooth running of your business.
At UOB Business Banking, our wide range of products and services can be customised to provide your business with payment and collection solutions that can effectively manage your business cashflow.
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UOB Funds Transfers
- An economical and convenient way to perform funds transfers electronically from your UOB accounts to any payee who maintains an account with UOB or another bank in Singapore.
- Two types of funds transfers available – Interbank Funds Transfer and Inter-account Funds Transfer;
- No signing or mailing of cheques required; and
- Choice of immediate processing or a specific future date.
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Telegraphic Transfers
- A secure and prompt solution for the electronic transfer of funds within and out of Singapore.
- Make overseas payment through SWIFT or Singapore Dollar same-day transfers via MAS Electronic Payment System (MEPS);
- A comprehensive list of payment currencies are available and you have the option to use UOB's prevailing exchange rates or special rates contracted online via UOB Business Internet Banking or with your dealer;
- Send your instructions through UOB Business Internet Banking or submit a form at any of our UOB Group Branches; and
- Enjoy better cut-off times as well as preferential fees for transactions sent via UOB Business Internet Banking.
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Cashier’s Order and Demand Draft Services
- You can purchase a Cashier's Order (S$) or a Foreign Currency Demand Draft through UOB Business Internet Banking or at any UOB Group Branch.
For transactions sent via UOB Business Internet Banking, you will enjoy preferential fees. In addition, you can request to have the Cashier's Order or Demand Draft mailed directly by the Bank to your beneficiaries or to collect from any UOB Group Branch of your choice.
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UOB Bulk Payments
- Bulk payment offers customers an economical and efficient way of issuing multiple payments to UOB through a single instruction. Send payment instructions conveniently via UOB Business Internet Banking.
UOB Business Banking offers the following bulk payment services:
- Bulk Payment (for supplier and vendor payments via GIRO, Cashier's Order or Cheque);
- Bulk Payroll (for salary crediting via GIRO); and
- GIRO with Beneficiary Advice (notifying your suppliers via email of successful payments made to them).
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Bulk Collection
- With UOB Direct Debit, you can now collect payments due to you by directly debiting your customers' bank accounts maintained with any GIRO-participating bank in Singapore. Once your bank has successfully processed your customer’s Direct Debit Authorisation form, you can start to initiate the collection of funds directly from them on the specific dates.
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UOB eNETS
- UOB eNETS is a receivables solution offered via the NETS (Network for Electronic Transfers (S) Pte Ltd) platform that allows your customers to make internet banking payments to you conveniently and securely. The funds will be credited to your UOB account the next business day.
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Cheque Deposit Solutions
- • Cheque Deposit File Service
A unique solution to automate your account reconciliation process
• Cheque Image Service
Receive electronic images of the cheques deposited by your customers via UOB File Transfer Service to enhance your receivables management
• Cheque Number Reference Service
A simple solution to provide you with cheque reference details to ease your account reconciliation
