Features
Enables your accounting department to link
operating (or sub accounts) accounts with a central account,
all held with UOB. When all daily debits and credits are
posted to the sub accounts, the Bank will automatically
off-set the sub accounts by
- sweeping surplus funds from the sub accounts
to the central account, and/or
- sweeping funds from the central account
to the sub accounts.
The sweeping facility would allow coporations
to improve at their liquidily.
Benefits
- Eliminate
or Reduce Idle Balances: Eliminates the need to
hold idle balances in each account to meet end-of-day batch
payments such as cheque clearing and media clearing.
- Reduce
Overdraft Charges: System automatically off-sets
any deficits with credit balances, thus reducing the need
to incur overdrafts.
- Reduce
Transaction & Administration Costs: System
automatically sweeps funds to cover cash shortfalls, which
eliminates the time, effort and costs involved in the physical
movement of funds. Similarly, the swept funds can be reversed
the next business day to meet daily transactions.
- Improve Yields on the Investment
of Surplus Funds: System enables surplus funds
of various entities to be physically commingled, providing
greater flexibility in making short-term investments to
enhance yields on available funds.
- Automated
Computation and Re-allocation of Interest: Interest
is reallocated to the respective accounts reducing the time
and effort spent calculating inter-company borrowings and
inter-company settlements arising from daily sweeps.
- Control: Comprehensive
reports are provided to the parent or group account, detailing
the daily activities of the swept balances, interest benefits,
and positions of each participating entity.
- Maximum
Interest: Automates the movement of funds from
non-interest bearing accounts to an interest bearing accounts
Cash Management Customer
Service :
Tel. 0-2343-4848
Fax. 0-2285-1746
Cash Management Division
United Overseas Bank (Thai) Public Company Limited.
191 South Sathon Road, Yanawa, Sathon, Bangkok 10120
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