Electronic Cheque Collection
This system covers the transfer of cheques either for collection or guarantee purposes to HSBC Cheque Clearing Office by the customers, and subsequent to the clearing, automatically uploading and entering the information into the accounts of the customers accounting system.
Features and Advantages
- Transaction costs are decreased via the accounting integration.
- Operational costs are decreased.
- Operational workload and margin of error is reduced.
- Cash flow and prospective cheque information become accessible.
- Scanned cheques can be archived in the form of image text.
- 1. Entry of cheques by the Company:
- Cheques are transmitted to HSBC electronically, via data exchange in a predetermined format.
- Results are transmitted to the Company via the same exchange channel
- Results are automatically updated and entered in the accounting system of the Company.
- Standard or customized file format can be designed.
- Standard or customized data exchange models can be applied.
- Data, which are received from the Company, are checked, against incomplete MIRC (Bank code, Branch code, cheque number, and account number) information. After completion of the missing data, cheques are sent for clearing.
- Scanners are allocated to Companies, holding high volume of cheques, for quick and easy loading into their accounting systems and fast transfer to the Bank for collection.
- Entry of Cheques by the Bank:
- Cheques are collected from the Company, and cheque information is input through the system by the Bank.
- Cheque datasets are transmitted to the Company via data exchange files (specified in your format) in order to be uploaded into your cheque reserves and input in your accounting system.
- The day after the expiration date, results are transmitted to the Company in the form of specified file format.
For further information please call HSBC Bank Telephone Banking at 444 0 424.