Collection Solutions

  • Collection solutions Collection solutions

    Collection solutions

    Receive payments faster to improve your business cash flow

Overview

UOB's integrated collection solutions help you to manage your end-to-end receivables cycle with greater speed and efficiency, and free up your resources so you can benefit in the following areas:

  • Improved cash flow and working capital by speeding up collections
  • Streamlined reconciliation process leading to lower Days Sales Outstanding (DSO)
  • Greater cost savings and better business performance when you outsource your receivables processing

Local Collections

PayNow and SGQR

PayNow and SGQR

Receive payments immediately when a sender makes payment to your UEN or scans your SGQR code

 

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Corporate Deposit Card

Corporate Deposit Card

A deposit-only card for your corporate account

 

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eNETS

eNETS

A receivables solution offered via the NETS platform

 

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UOB Corporate Deposit Card is a deposit-only card that allows you or your staff to deposit cash into your bank account(s) securely at any UOB cash deposit machines island-wide.

  • Enjoy flexibility of depositing cash at your convenience at any UOB cash deposit machine island-wide
  • No cash deposit fees when depositing at any UOB cash deposit machine
  • No personal identification number (PIN) or account number is required when making deposits
  • No account balance is displayed on screen or printed on the receipt
  • UOB eNETS allows your customers to make internet banking payments to you conveniently and securely.
  • Funds will be credited to your UOB corporate account the next business day.
  • Terms and Conditions for UOB eNETS Service
Direct Debit

Direct Debit

Take control of your billing cycle by collecting payments electronically

 

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UOB mCollect

UOB mCollect

Simplify business processes by digitising your invoices and collections

 

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UOB Direct Debit is a timely and flexible collection arrangement that helps you take greater control of your receivables. It debits your customers’ accounts directly with any participating banks in Singapore and enables you to collect payments electronically.

  • Direct debit instructions can be submitted via UOB Business Internet Banking Plus (BIBPlus) or Host-to-Host connectivity
  • Upon receiving your instructions, the Bank will debit your customers’ accounts on the date specified by you, and your account will be credited on the next business day

Overseas Collections

Telegraphic Transfers

Telegraphic Transfers

Speed up receipt of funds from overseas

 

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Reconciliation Solutions

UOB Virtual Account

UOB Virtual Account

Streamline and automate your account receivables reconciliation

 

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Cheque Reconciliation

Cheque Reconciliation

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Timely and accurate information is key to efficient accounts receivable (AR) management. With UOB Virtual Account solution, you can streamline and automate your AR reconciliation. Our simple and cost-effective end-to-end solution enables you to quickly identify all incoming remittances from your clients, regardless of the payment type and currency.

  • 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 that provides you with cheque reference details to ease your account reconciliation

 

How to Apply

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