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International Banking

International banking is a module of Business Online that can be accessed anytime, anywhere, at your convenience. Our Business Online international banking channel will allow you to process your cross-border payments. You can also manage your customer foreign currency (CFC) accounts, offshore accounts and foreign currency accounts (FCA) and make inter-CFC account transfers. Local and cross-border transactions can be made, account statements can be viewed online and audit trails are available to monitor all transactions. International banking allows you to:

  • Manage your foreign currency (CFC) and offshore accounts through the account management and funds transfer modules
  • Process local and cross-border transactions from current (ZAR) accounts and FCAs
  • Process payment instructions to other financial institutions
  • Manage pre-loaded beneficiaries and payments online or offline
  • Capture data, which can be either online for immediate transmission or through your ERP system
  • Access our offline functionality for later importation into the online facility, which eliminates dual capturing
  • Make use of our specialised administration department, which provides final verification and Swift validations to ensure that payments achieve straight-through processing

International Banking via Business Online

Benefits

  • Controlled access to accounts with segregation of duties and transaction limits
  • Convenience of pre-loaded beneficiaries
  • Allows for straight-through processing
  • International banking within a secure and stable environment
  • Minimised risk – ability to track all activity and transactions
  • Training and dedicated support is provided by Standard Bank
  • Cost-effective online banking solution

Features

  • Various settlement options are available
  • Spot, one-day and same-day value payments from Standard Bank CFC accounts
  • Payments can be made from a CFC, offshore account and a ZAR account
  • Payments can be captured up to 30 days in advance
  • Statements for offshore accounts held with financial institutions can be viewed online
  • Statements for Standard Bank CFC accounts can be viewed online
  • Statement details can interface with your internal financial systems
  • Up to 65 days of statement history is available, including balances, transactions, interest statements and account exposures
  • Interest statements can be daily, weekly or monthly
  • Forex transaction reports are sent electronically to the South African Reserve Bank
  • Swift message print-outs for foreign payments and receipts are available
  • Information is displayed for a currency cut-off time
  • Audit trails can be viewed online or printed
  • Beneficiaries can be selected from a pre-loaded beneficiary file

International Banking clients have full access to our specialised administration department, which provides final verification and SWIFT validations to ensure that payments achieve straight through processing.

Contact your Standard Bank representative to help you determine the exact requirements for your business and create the necessary profiles.